Foxconn Won’t Build TVs in Wisconsin
Can’t compete in U.S., company exec tells Reuters.
Tech giant Foxconn won’t build televisions in Wisconsin, according to a report in Reuters, focusing instead on hiring engineers and researchers at its Mount Pleasant facility.
While Foxconn Technology Group said Wednesday it remained committed to the Wisconsin project and the jobs it promised, the move would represent a dramatic about-face for the company, whose promise to bring TV manufacturing to North America helped it secure billions of dollars in state tax incentives.
“In terms of TV, we have no place in the U.S.,” Woo told Reuters. “We can’t compete.”
Woo said it would be more profitable to make LCD panels in China and Japan, then ship them to Mexico for final assembly.
“We remain committed to the Wisconn Valley Science and Technology Park project, the creation of 13,000 jobs, and to our long-term investment in Wisconsin,” the company said in an email. “As we have previously noted, the global market environment that existed when the project was first announced has changed. As our plans are driven by those of our customers, this has necessitated the adjustment of plans for all projects, including Wisconsin.”
Woo told Reuters about three-quarters of Foxconn’s eventual Wisconsin jobs would be in research, development and design.
“In Wisconsin we’re not building a factory,” Woo told Reuters. “You can’t use a factory to view our Wisconsin investment.”
The massive scale of the Foxconn project was a major selling point for former Republican Gov. Scott Walker, who boasted that once it was finally built, the Wisconsin plant would be the size of “11 Lambeau fields.”
The incentives package Walker negotiated and signed in 2017 would have Wisconsin state government pay Foxconn up to about $3 billion in tax credits depending on the size of the plant it builds and the number of employees it hires. When all state and local incentives are added up, Wisconsin’s Foxconn package totaled roughly $4.5 billion.
Report: Foxconn Won’t Build TVs At Wisconsin Plant was originally published by Wisconsin Public Radio.
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