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Foxconn disputes Wisconsin ‘s refusal to grant government tax credits Local government

“Once Foxconn has been able to detail the scope and nature of its project, WEDC is ready to work on a new agreement that balances the company’s needs with the interests of taxpayers in Wisconsin,” Hughes said.

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This year would mark the state̵

7;s first payment of repayable tax credits to Foxconn. In 2018, the company dropped 82 jobs to the minimum required to apply for state tax credits.

Foxconn said it created more than 800 jobs in 2019, more than the 520 minimums needed for government subsidies. Under the contract, the goal was to have 2,080 full-time jobs and more than $ 3.3 billion in capital expenditures by the end of 2019. Foxconn’s jobs report this summer also identified more than $ 415 million in capital investment – a significant unlike Foxconn’s 280 million reported in April.

WEDC announced earlier this month that only 281 of Foxconn’s reported jobs had been checked as eligible and the company had invested approximately $ 300 million in capital expenditures.

Regardless of how many jobs Foxconn has created, government officials have said that the tax subsidies agreed in the original contract are tied to jobs and capital investments for specific projects that Foxconn fails to provide. The Foxconn contract requires a Generation 10.5 facility to build larger panels for TV screens, but the project has been reduced to Generation 6, which will produce small screens for mobile phones, tablets, laptops and wearables.

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