|Foxconn Shrinks Plans for Wisconsin Plant|
Electronics maker signs new deal with state to invest up to $672 million, instead of up to $10 billion
Some snips from behind paywall: wsj.com
Foxconn is scaling back plans for a liquid-crystal-display plant in Wisconsin, saying it expects to invest a fraction of the $10 billion promised nearly four years ago, according to a new contract with the state.
Foxconn, a supplier of screens for Apple Inc., has previously said fast-changing LCD technology complicated plans in Wisconsin. In a recent report, Foxconn said the project was also slowed by “cultural assimilation, changing business demands, tariffs, a pandemic, and a presidential election year.”
The new contract allows incentive payments for “economic investment activities related to locating and operating a technology and manufacturing ecosystem.” The old contract required Foxconn to build a specific type of screen-making facility in Mount Pleasant, 25 miles south of Milwaukee.