The long-running Foxconn saga of the maybe-someday factory in Wisconsin continues. A new report today says that company chairman Terry Gou is flying to DC tonight for a White House meeting to discuss the project …
Reuters carries the unconfirmed report.
The original deal, as announced by President Trump, was for the establishment of a hi-tech display factory which was expected to generate 13,000 Wisconsin jobs. So far, however, there is no sign of the factory or any actual construction work on it, and just 178 jobs were created last year.
A spokesman for Hon Hai Precision Industry Co Ltd, the formal name of Foxconn, said the firm wouldn’t comment on the chairman’s itinerary.
Wisconsin governor Tony Evers declared earlier this month that the deal ‘is no longer in play’ and said the state needs to renegotiate the promised $4B tax breaks to protect taxpayers. Although most of the sum is contingent on hitting jobs targets, almost a billion of it was agreed as up-front investment by the state in land and infrastructure improvements designed to support the promised facility.
Foxconn said it was still committed to the project, despite earlier reports that it was scaling back the plans or not building a factory at all. However, Gov. Evans called Foxconn’s bluff with a letter to the CEO’s office calling on the company to announce concrete details about the promised jobs.
Given Trump’s high-profile involvement in announcing the deal in the first place, and his subsequent assurance that he had talked the company around, it seems likely that the president has called the meeting to try to salvage something from the current mess.
Thank you for helping us better understand Foxconn’s plans to ensure we can forge a strong path forward together for Foxconn and for Wisconsin residents and taxpayers.
The smart money, however, would be on yet another vaguely reassuring message, with no details of dates, financial investments or jobs.
Photo: Shutterstock
