Advertisement

Walker, Foxconn Leader Sign Plant Contract

Walker, Foxconn Leader Sign Plant Contract

November 10, 2017 06:00 PM

RACINE, Wis. (AP) - Wisconsin Gov. Scott Walker and Foxconn Technology Group Chairman Terry Gou have signed off on a $3 billion contract for the Taiwanese company to build a massive display-screen factory in southeast Wisconsin.

Advertisement – Content Continues Below

Walker and Gou signed a contract Friday that locks the state into providing up to $3 billion in tax incentives if Foxconn invests $10 billion on a new display-screen manufacturing factory and campus near Racine. The company would also have to hire 13,000 workers to get the full benefit.

It is the largest state tax incentive package offered to a foreign company in U.S. history.

Gou says he will pay Wisconsin up to $500 million if Foxconn does not fulfill its side of the contract.

The contract signing comes after the state Legislature approved general terms of the deal. Wisconsin beat out several other states for the plant.


WDIO

Copyright 2017 The Associated Press. All rights reserved.

Advertisement
Advertisement
Relay Media Amp

Shopper's Ready as Black Friday Sweeps Duluth

Runners Celebrate Thanksgiving with Gobble Gallop 5K

Local Church Hosts Thanksgiving Dinner for Disabled Veterans

Volunteers Serve Up Thanksgiving Buffet at DECC

Man Found Dead in Duluth's East Hillside, No Foul Play Suspected

One-fifth of Upper Midwest Residents Traveling for Holiday

Advertisement