When Foxconn entered into a deal with another manufacturer to make electric cars, the companies predicted the partnership would "revolutionize the automotive industry." They compared their work to the scientific discoveries of Isaac Newton. And they hinted they could even manufacture the cars here in Wisconsin.
Worldwide electronics leader Foxconn Technology Group violated terms of its contract in Wisconsin, while local governments spend hundreds of millions of dollars to prepare for the project, a lawsuit filed by a real estate development company alleges.
Foxconn Technology Group is willing to accept a reduction in state tax credits "in exchange for a flexible business environment in Wisconsin," the company told state officials as both sides move closer to reaching a new deal.
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.
Days before the state declined to give the Foxconn Technology Group tax credits for work done in 2019, officials wrote that the company’s Mount Pleasant factory "may be better suited for demonstration purposes rather than as a viable commercial glass fabrication facility."