Foxconn scraps plan to build $10 billion Wisconsin factory Trump bragged about

Scott Olson  Getty Images North America

Louis Woo, the special assistant to Foxconn chief executive Terry Gou, told the press service that the company was still considering its options in Wisconsin, but said the cost of manufacturing TVs in the us was simply too high.

The Chinese company said in 2017 that the $10 billion facility would make LCD displays and employ up to 13,000 people - including a sizable manufacturing workforce.

"In Wisconsin we're not building a factory", Louis Woo, a high ranking assistant to Terry Gou, Foxconn's chairman, tells Reuters. A company official said it is scaling back, though, and possibly ending plans to build liquid crystal display panel screens, saying it can not compete in the U.S.

In a statement Wednesday morning to WPR, Foxconn did not dispute the Reuters report, but said the company remained committed to Wisconsin.

But what was left out of the statement was that Walker and others pursued the deal in large part because the massive development is expected to generate other new businesses, new housing and other economic activity that will, in turn, produce even more tax revenue. "We are upholding our commitment to Wisconsin". It does most of its manufacturing in the mainland, sells products to Americans and faces pressure from both sides to maintain or create new jobs. The price tag for the state of $3 billion did not seem to justify 13,000 jobs - that works out to $230,000 of taxpayer money spent on each $54,000 job created.

It plans to hire mostly engineers and researchers not manufacturing workers.

"Trump bragged about his deal with Foxconn to bring jobs to Wisconsin".

August 15, 2017 - One Wisconsin Now says Wisconsin's $3 billion incentive offer to Foxconn is "the largest gift ever by a state to a foreign company".

Trump Blasts FOX News Reporters, Pundit Ann Coulter
The survey found that 50 percent of Latino adults approve of Trump's job as president - a 19 percent increase since December.

However, the latest news could dent the image he likes to project of the dealer-in-chief who can deliver, and comes soon after he backed down in his standoff with Democrats over his Mexican border wall in a dispute that closed the government for a month.

And though Foxconn has restated their intent to fulfill their 13,000 job promise, doing so may be a fool's errand.

It hired 178 full-time jobs rather than the 260 targeted in 2018, failing to earn a state tax credit worth up to $9.5 million.

But he added: "Given global economic conditions and the trade tensions between China and the US.it's impossible that we can always stay committed to our original plan without any change".

Assembly Speaker Robin Voss (R) and Senate Majority Leader Scott Fitzgerald (R) released a joint statement saying, "We don't blame Foxconn for altering plans in an ever-changing technology business. And now, it appears Foxconn is living up to their failed track record in the USA - leaving another state and community high and dry".

"Republicans will do all that we can to keep Wisconsin open for business and the Manufacturing and Agriculture Tax Credit in place".

Company representatives did not immediately respond to requests for comment. Critics of the deal, including a number of Democrats, called it a corporate giveaway that would never result in the promised manufacturing jobs and posed serious environmental risks. "Greatest phrase ever used in politics, I suspect". He said Foxconn can succeed if the plant becomes more research-oriented because its areas of interest match up with Wisconsin's strengths - such as robotics, medical imaging, and industrial imaging.

Related News:



Most liked

Margot Robbie Teases First Photo of Harley Quinn in 'Birds of Prey'
As you can see, the footage is labeled "See You Soon", and is the only video upload from YouTube user CheekySneakyPeeky . The film's writer Christina Hodson had previously said they had meant to change the working title but it simply stuck.

British vote raises risk of disorderly Brexit — EU leader Juncker
The Green MP Caroline Lucas accused the Prime Minister of chasing "heated up fantasies that have already been rejected by the EU". The unlikely pair are key figures behind a proposal that emerged overnight on Monday in a bid to unify the Conservative Party.

IOS 12.2 Beta Hints at Downtime Customisation in Screen Time
A developer beta for watchOS 5.2 was released, but Apple typically doesn't launch public betas for its smartwatch software. Though with the current implementation, the time window you set applies to the entire week.

Kangana's sister Vs director Krish — Twitter war
Krish has accused Ranaut of hijacking the filmmaking process even though he had been brought on as solo director. Director Krish is on the receiving end in the on-going controversy over credits for the movie 'Manikarnika '.

Arsenal interested in signing Mata on a free transfer
Talks over a new one-year deal have been ongoing since late last year without agreement and he will be a free agent in the summer. He had only featured in half of Ole Gunnar Solskjaer's first eight matches in charge, and this was his first start in four games.

Celine Dion Has A Response For Her Body Shamers
As earlier reported, speculations have it that her 34-year-old boy toy might be responsible for Celine's drastic weight loss . We bonded right away as friends, it evolved... but let's not mix everything. "He's giving me his hand to go out".

California's Largest Utility Goes Bankrupt Under Billions In Wildfire Debt
PG&E is facing roughly $30 billion in potential liability after it caused hundreds of fires in the past few years. Rather, they along with the company's creditors and suppliers, will need to tussle for a payout from the company.

Tennis champ Andy Murray confirms hip operation, metal joint implant
That did not work as, despite a comeback at Queen's in the summer, Murray was not able to compete sufficiently on the tour. And if it does not allow him to return to the court, he will have played the last game of his glittering career.

Police find footage of potential suspects in Jussie Smollett attack
The publication further reports that production is set to resume on Thursday if weather conditions permit. Smollett has been active in LBGTQ issues and he released his debut album, "Sum of My Music", a year ago .

Miguel Almiron to sign for club-record fee
Atlanta United's Miguel Almiron flew to England on Tuesday as a move to Newcastle nears completion, according to ESPN FC sources. Almiron enjoyed a terrific campaign with Atlanta previous year , with 13 goals and 11 assists being recorded from 37 appearances.

Novak Djokovic: 'Rod Laver Arena brings me a lot of memories'
Conviction fuels the firmness of goal and gives a person the energy to knock down the hurdles that lay in their path. The 53rd instalment of the epic Djokovic-Nadal rivalry had been billed as one of the most anticipated ever.

Neymar Out For Over Two Months With Foot Injury
An operation would have put Neymar's participation in that tournament at risk, as well as effectively ending his club season. The Brazil forward suffered the injury in a 2-0 French Cup victory over Strasbourg on Wednesday, 23 January.

Bournemouth boss Howe: Man-marking Jorginho key to beating Chelsea
That will be the only way to keep him, which means that Sarri must back up his words with action. He has the potential to be the best player in Europe at the moment".

Brooklyn courthouse is Ground Zero for US-Chinese tech battle
The second set of charges against Huwaei accuses the company of trying to steal technology from USA telecoms network T-Mobile. Mnuchin said the United States security concerns raised by the Huawei case were separate from the trade issue.

Measles outbreak in Washington state, BCCDC advises residents to update immunization
The introduction of the vaccine, which is 97 percent effective after two doses, dramatically reduced measles rates in the country. The tragedy is that the deadly disease and its consequences are nearly 100 percent preventable if the population is vaccinated.