A new report filed by Foxconn Technology Group says the company spent nearly $93 million acquiring real estate in 2018 and about 90 percent of its employees were Wisconsin residents.
The company submitted the job creation report by an April 1 deadline to the Wisconsin Economic Development Corp. (WEDC) as required by Foxconn’s contract with the state. Foxconn also submitted a report on capital expenditures in 2018 but was not required to do so under the state contract.
The first required capital spending report will be due April 1, 2020, for the period ending Dec. 31, 2019.
The Milwaukee Business Journal obtained the documents through a public-records request to the WEDC. The report provides a snapshot of the high-profile Foxconn project’s status at year-end 2018.
Foxconn pre-empted the report’s employment news by submitting a letter to WEDC in January indicating the company fell short of job-creation goals for 2018 that would have qualified for state tax credits.
Also in January, Foxconn executive Louis Woo said the company “invested over $200 million to date in Wisconsin.” It wasn’t clear what Woo was referring to and the new report to WEDC does not include that dollar figure. Read the full story here.