Foxconn to break ground this summer
The Milwaukee Business Journal reports that Foxconn will break ground on its Mount Pleasant LCD screen fabrication plant in Racine County this summer, creating 1,500 new full-time jobs by the end of 2020.
The state contract promises $1.5 billion in job-creation tax credits based on the number of full-time jobs created. Foxconn has touted 13,000 new jobs, but the company fell short of its December 2018 goal by 84 jobs and thus did not receive any tax credits.
Foxconn still has until December 2022 to reach the 13,000 target to receive it’s full slate of credits, though it can continue collecting credits if it hits a lower target of 10,400 jobs by 2027 and holds that number steady through 2032.