Evers announces renegotiated Foxconn contract, saves taxpayers $2.77 billion
Wisconsin Governor Tony Evers has announced a contract between the WEDC and Foxconn has been renegotiated.
Under the new contract amendment, which Evers says was approved by the WEDC Board of Directors on Tuesday, Foxconn will be eligible to receive up to $80 million total in performance-based tax credits during the course of six years.
Missy Hughes, the WEDC Secretary and CEO, issued this statement regarding the amended contract: “The agreement provides the opportunity to be responsive to the marketplace that a modern, forward-looking company like Foxconn needs to pursue innovation. At the same time, by right-sizing the contract, our state is in a position where we can ensure that all businesses – everywhere – have the resources they need to grow and prosper.”
(Adapted from “Evers announces renegotiated Foxconn contract, saves taxpayers $2.77 billion ,” Apr. 20, 2021, WEAU)
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
