Foxconn’s investment breaks Trump’s promise

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Foxconn initially announced it would invest $ 10 billion in a new manufacturing facility in Wisconsin


Foxconn Technology Group’s investments in the United States fell short of promises made in 2017, when US President Donald Trump hailed the company’s pledges to build a factory as a sign of the manufacturing renaissance American.

Politicians had said the deal could potentially generate 13,000 new jobs.

But it has created fewer than 300 jobs so far – well below original targets, Wisconsin officials said.

Foxconn had previously said he was changing his plans for the factory.

Wisconsin officials have identified the extension numbers so far in a letter denying tax breaks to Foxconn, which the state gave the company, a major supplier to Apple, as part of the 2017 deal. .

The incentives were conditional on the company meeting certain investment and job creation goals and generated significant controversy in Wisconsin, a state important in US electoral calculations.

The decision by state officials to withhold tax breaks comes just weeks before American voters go to the polls to decide whether Mr. Trump deserves a second term as president.

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Mr. Trump, whose campaign slogan in 2016 was “Make America Great Again,” sought to portray his tenure as a boon to the US economy.

But even before the economic collapse triggered by the pandemic, employment in the manufacturing sector had remained relatively stable.

Wisconsin Democrats seized the numbers as further evidence that a deal had gone awry, noting that the state had spent $ 1 billion to support the project.

“This confirms Foxconn’s legacy as one of the broken promises, a lack of transparency and a complete failure to create jobs,” said Wisconsin State Representative Gordon Hintz, a leader of the Democrats in the ‘Status and a critic of the project. ‚ÄúRepublican politicians should be held accountable. “

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