Foxconn Technology Group is getting another $16 million from Wisconsin taxpayers in return for the company expanding its Mount Pleasant operations by adding more than 1,300 jobs.
Wisconsin Economic Development Corp., a state agency, approved what it calls “performance-based tax incentives” for Foxconn, a Taiwan-based electronics manufacturer.
The company said the additional work was tied to demand from data centers such as the massive $7.3 billion Microsoft complex under construction nearby on land previously controlled by Foxconn.
The state funds will support the company’s investment of an additional $569 million, creating 1,374 new jobs over the next four years, according to the agency’s Nov. 25 announcement.
With that expansion, Foxconn could receive up to $96 million in state tax credits through 2029.
Under the amended WEDC contract, the company will create 2,616 jobs and spend $1.2 billion in capital investments during that period.
“WEDC has been committed to ensuring Foxconn’s success and growth in our state,” said Sam Rikkers, deputy secretary and chief operating officer, in a statement.
Foxconn says it’s expanding to meet rising demand from U.S. customers.
“As the demand for more data infrastructure continues to rise, Foxconn will keep responding to our customers’ needs with flexibility and at scale in the United States,” said Jerry Hsiao, chief product officer.
This is Foxconn’s second contract amendment with WEDC.
A 2021 agreement allowed Foxconn to earn up to $80 million in state tax credits by the end of 2025 based on the company’s planned investment of $672 million and creation of 1,454 jobs.
WEDC says it’s verified that as of Dec. 31, 2024, Foxconn had invested nearly $717 million in its Mount Pleasant operations and created 1,242 jobs, qualifying the company for $62.9 million in tax credits.
Then-Gov. Scott Walker and Foxconn in 2017 agreed to a $2.85 billion tax incentive package ― including state and local funds ― if the company met annual hiring and capital investment goals.
Foxconn promised to bring 13,000 high-tech jobs to Wisconsin and create a massive large-screen LCD manufacturing facility in Mount Pleasant.
But those plans failed to materialize, and Foxconn instead shifted to contract manufacturing with fewer jobs and lower capital investments.
That led to the 2021 renegotiated WEDC contract under the administration of Gov. Tony Evers.
Meanwhile, much of the land acquired for Foxconn has since been sold to Microsoft Corp. for its data center campus.
Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Bluesky, X and Facebook.
This article originally appeared on Milwaukee Journal Sentinel: Foxconn promises 1,374 new jobs, gets $16 million more in state money
Reporting by Tom Daykin, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
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