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DOWNSIZE MEANS NO TAX CREDITS FOR FOXCONN

DOWNSIZE MEANS NO TAX CREDITS FOR FOXCONN

Governor Tony Evers’ administration is telling Foxconn that there won’t be any tax breaks until the company agrees to a new deal.

Department of Administration Secretary Joel Brennan sent a letter to Foxconn last month that said Foxconn will not qualify for any hiring-based tax breaks because Foxconn is moving ahead with a smaller LCD production facility. Brennan said the current project doesn’t qualify for the tax breaks. Foxconn reportedly told the state that they are in compliance with the agreement signed under Governor Walker.

Foxconn last week said it’s hired more than 520 people this year, and that should be enough for million in tax credits.

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