Foxconn to Spend $5.57 Billion to Build Wisconsin Plant, EY Reports for State
EY estimates Foxconn will spend $5.57 billion to build a plant in Wisconsin (see 1707270018), half for construction supplies and equipment paying no sales taxes, the state Department of Administration reported Thursday. The plant is expected to reach full employment…
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in 2021, with average salaries approaching $54,000. The report analyzed legislation introduced last week in the Assembly, and referred to its Jobs and Economy Committee, to authorize the state to grant Foxconn about $3 billion in incentives to coax the contract manufacturer to complete construction and begin producing display panels within four years. The legislation, which received its first hearing Thursday, incorporates terms of a July 27 memorandum of understanding that CEO Terry Gou signed with state officials. EY representatives didn’t comment further Friday.