HNHAF - Foxconn signs new deal with Wisconsin that lowers tax breaks from $3B to $80M

Foxconn, formally known as Hon Hai Precision Industry (HNHAF), has signed a new contract with the state of Wisconsin that lowers its taxpayer subsidies from nearly $3B to $80M.Democratic Gov. Tony Evers, a vocal critic of the facility deal signed by his Republican predecessor, says the new deal "treats Foxconn like any other business and will save taxpayers $2.77 billion, protect the hundreds of millions of dollars in infrastructure investments the state and local communities have already made, and ensure there’s accountability for creating the jobs promised.”The original $2.85B in subsidies required Foxconn to invest $10B in the LCD production facility and create 13,000 jobs.Foxconn soon backed away from the plans for producing large panels at the facility and as of today still isn't completely sure what the investment will focus on.Under the new deal, Foxconn needs to invest $676M and employ at least 1,454 people with $53,875 by 2026 to receive the

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Foxconn signs new deal with Wisconsin that lowers tax breaks from $3B to $80M