Foxconn falls short on jobs promise
Foxconn Technology Group fell 82 jobs short of the minimum required 260 full-time jobs in 2018, meaning the Taiwanese company changing the landscape in southeastern Wisconsin will not immediately receive tax-credits that could have amounted to as much as $9.5 million.
However, terms of a 15-year agreement with the state allows the company to earn those 2018 tax credits back if Foxconn reaches promised employment levels in the future, according to a story in the Milwaukee Journal Sentinel. The company could receive as much as $1.5 billion in job credits as part of a public subsidy package, and that subsidy could total as much as $4 billion.
As proposed, Foxconn must produce 13,000 jobs averaging $53,875 a year at its Mount Pleasant manufacturing plant to receive all the tax credits.