Foxconn Technology Group said Thursday it is committed to its contract with the state of Wisconsin but is also open to new ideas.
“Foxconn’s commitment to job creation in Wisconsin remains long term and will span over the length of the WEDC contract and beyond,” the company said in a statement.
Gov. Tony Evers on Wednesday said he is looking to renegotiate portions of the state’s contract with the Taiwanese tech giant. Former Gov. Scott Walker struck a deal in 2017 that made $3 billion in tax incentives available to Foxconn if the company invested $10 billion and created 13,000 jobs in the state.
The project laid out ambitious timelines for job creation and capital investment, but Foxconn has also scaled back its plans since the deal was originally announced, citing a changing market and need for product flexibility.
The company fell short of its job creation targets in the first year of the deal, hiring 178 people when 260 jobs were required to earn any payroll tax credits. The company needs to add another 342 jobs this year and 1,642 by the end of 2020 to earn any payroll tax credits. Read the full story here.