Foxconn not expected to meet hiring goals in next 3 years

[TexasTowelie]

MADISON, Wis. (AP) — Foxconn Technology Group is not expected to receive tax credits in the next three fiscal years, continuing its failure to meet goals for hiring and investing in its Wisconsin manufacturing complex, according to state officials.

The Department of Administration’s projection came in its budget request for the fiscal years 2022 and 2023. Administrators say the Wisconsin Economic Development Corp. doesn’t expect Foxconn to comply with the state agreement that provides up to $2.8 billion in tax credits, the Milwaukee Journal Sentinel reported.

In 2017, Foxconn said it would invest up to $10 billion in a Racine County plant that could generate 13,000 jobs and make large LCD screens.

Since then, Foxconn has scaled back its plans to a Gen 6 plant that would make screens for TV’s, smart phones and tablets.

Read more: https://dailyreporter.com/2020/12/03/foxconn-not-expect-to-meet-hiring-goals-in-next-3-years/
(Milwaukee Daily Reporter)

[lkinwi]

1. No surprises.

[abqtommy]

2. Fer sure...

[justhanginon]

3. One too many n's in Foxconn.

[Luciferous]

5. Ha, right?! This news should come as a surprise to no one. It was

obvious from the beginning that this deal was a scam.

[SmartVoter22]

4. Foxconn, Kestrel Airplanes and GOP's WEDC monster

This Foxconn investment reminds me of Scott Walker and the GOP's other failed projects.
WEDC failed to research it's projects, secure it's loans and administer the projects, as any bank would. The GOP created a monster. With the pandemic out of control, one would think our electeds would meet, maybe once, to address the continuing problems WEDC has, and take steps to prevent more damage and waste.
Wisconsin's GOP has allowed WEDC to become the poster child of failed GOP economic leadership.
Dems should be using this failure in every campaign starting with the Feb 17, 2021 spring primary election.

When Walker was elected he jumped on a failed Kestrel airplane manufacturing project. In Jan 2012, Walker announced the "Kestrel' airplane project in Superior, WI. 600 jobs promised. In Aug 2019, it owed the state and local governments millions, which the bankruptcy court felt would never be recovered. Kestrel filed in Oct 2018 for Chapter 11.

"... An audit by the Legislative Audit Bureau showed less than 35% of any jobs were created and WEDC did not track any jobs created.
It did not require grant and loan recipients to submit detailed information on how many jobs they add or retain, or what those jobs pay.
WEDC also failed to collect detailed information from grant recipients about their current employees, information that would provide a baseline to measure future employment growth at a business.
Auditors also found WEDC did not annually verify the jobs-related information it was given.
https://www.wpr.org/audit-wedc-still-not-tracking-job-creation


The Foxconn project... They couldn't even create 281 jobs to continue the contract by Oct 2020!
"... Foxconn isn’t building what it promised and failed to hire enough people."
https://www.theverge.com/2020/10/12/21512638/wisconsin-foxconn-tax-subsidies-lcd-factory-rejected