Taiwan's Foxconn Promises New Wisconsin Tech Campus
Taiwan-based electronics manufacturer Foxconn on July 26 said it plans to build a flat-panel LCD-monitor production facility as large as 20 million sq ft at an unspecified southeastern Wisconsin location. While no site has been selected, Gov. Scott Walker (R) offered the firm incentives in an agreement with the state that includes up to $3 billion in state tax breaks. The Legislative Fiscal Bureau noted that it could take Wisconsin 25 years to break even. Foxconn has committed to creating 3,000 jobs by 2020.
Another 10,000 jobs could materialize from construction and supporting businesses, according to the agreement. Approval of the full incentive package for its “Fab18” facility could provide Foxconn, which reported nearly $140 billion in revenue in 2015, up to $1.5 billion in tax cuts.