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Wisconsin governor says he wants to renegotiate Foxconn contract
Source: Reuters
BUSINESS NEWS APRIL 17, 2019 / 4:46 PM / UPDATED 4 HOURS AGO
Wisconsin governor says he wants to renegotiate Foxconn contract
Karen Pierog, Caroline Stauffer
4 MIN READ
(Reuters) - Wisconsin’s governor said on Wednesday he wants to renegotiate the state’s contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state.
Democratic Governor Tony Evers, who took office in January, inherited a deal to give Foxconn around $4 billion in tax breaks and other incentives that was championed by Scott Walker, Evers’ Republican predecessor.
Announced at a White House ceremony in 2017, Foxconn’s 20-million-square-foot campus marked the largest greenfield investment by a foreign-based company in U.S. history and was praised by President Donald Trump as proof of his ability to revive American manufacturing.
Foxconn, a major supplier to Apple Inc, has pledged to eventually create 13,000 jobs in Wisconsin, but said earlier this year it had slowed its pace of hiring.
“The present contract deals with a situation that no longer exists so it’s our goal to make sure that the taxpayers are protected and environmental standards are protected, and we believe that we need to take a look at that contract,” Evers told reporters.
-snip-
Wisconsin governor says he wants to renegotiate Foxconn contract
Karen Pierog, Caroline Stauffer
4 MIN READ
(Reuters) - Wisconsin’s governor said on Wednesday he wants to renegotiate the state’s contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state.
Democratic Governor Tony Evers, who took office in January, inherited a deal to give Foxconn around $4 billion in tax breaks and other incentives that was championed by Scott Walker, Evers’ Republican predecessor.
Announced at a White House ceremony in 2017, Foxconn’s 20-million-square-foot campus marked the largest greenfield investment by a foreign-based company in U.S. history and was praised by President Donald Trump as proof of his ability to revive American manufacturing.
Foxconn, a major supplier to Apple Inc, has pledged to eventually create 13,000 jobs in Wisconsin, but said earlier this year it had slowed its pace of hiring.
“The present contract deals with a situation that no longer exists so it’s our goal to make sure that the taxpayers are protected and environmental standards are protected, and we believe that we need to take a look at that contract,” Evers told reporters.
-snip-
Read more: https://www.reuters.com/article/us-foxconn-wisconsin/wisconsin-governor-says-he-wants-to-renegotiate-foxconn-contract-idUSKCN1RT2IN
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
to see how successful the governor will be in doing something about this giant tax give-away. 
