Wisconsin Gov. Tony Evers this week successfully negotiated an agreement between the state and Foxconn, saving taxpayers $2.77 billion. The new agreement also maintains accountability measures requiring job creation to receive incentives and protects hundreds of millions of dollars in local and state infrastructure investments made in support of the project. The previous deal, agreed to by the Walker-Kleefisch administration, had delivered bloated tax breaks to Foxconn on the backs of Wisconsin taxpayers.
On the 2018 campaign trail, Gov. Evers had promised to work with Foxconn to negotiate a better deal that worked for Wisconsin. The new deal marks the fulfillment of that campaign promise.
Read more about Gov. Evers’ landmark deal below:
Associated Press: Wisconsin Gov. Tony Evers clawing back Foxconn state tax breaks
Foxconn Technology Group, the world’s largest electronics manufacturer, has reached a new deal with reduced tax breaks for its scaled-back manufacturing facility in southeast Wisconsin, Gov. Tony Evers and the company announced on Monday.
Wisconsin Public Radio: Evers, Foxconn Reach New Agreement Lowering Burden On Taxpayers
Foxconn Technology Group has reached a new deal, with reduced tax incentives, for its scaled back project in Racine County, Gov. Tony Evers and the company announced Monday.
Wisconsin has denied the technology manufacturing giant any consideration of tax credits because there’s no activity in Mount Pleasant resembling any of the detailed production included in the original $3 billion contract with the state.
In a statement, Evers said it has been his goal to “find an agreement that works for Wisconsin taxpayers while providing the support Foxconn needs to be successful here in our state.”
Wisconsin State Journal: State, Foxconn say new deal reached for southeast Wisconsin manufacturing plant with fewer tax credits
After more than a year of negotiations, state and Foxconn Technology Group officials say they have reached a new agreement regarding the Taiwan-based company’s manufacturing plant near Racine that would provide Foxconn fewer state tax credits than originally agreed upon.
WBAY: Evers announces renegotiated Foxconn contract, saves taxpayers $2.77 billion
Wisconsin Governor Tony Evers has announced a contract between the Wisconsin Economic Development (WEDC) and Foxconn has been renegotiated.
According to Evers’ office, the renegotiations will save Wisconsin taxpayers a total of $2.77 billion compared to the previous contract.
Under the new contract amendment, which Evers says was approved by the WEDC Board of Directors on Tuesday, Foxconn will be eligible to receive up to $80 million total in performance-based tax credits during the course of six years.
Channel 3000: Speaker Vos shares excitement for Foxconn deal with Wisconsin
Assembly Speaker Robin Vos released a statement Tuesday in response to the amended agreement between Foxconn Technology Group and the state.
Under the new contract, Foxconn will be eligible for up to $80 million in state tax incentives. Gov. Tony Evers shared details of the new contract Tuesday.
Vos approved of the agreement and expressed excitement toward the company’s continued growth in Mount Pleasant.