Foxconn Technology Group may be on the hook for more tax payments to Wisconsin after scaling back plans for a massive plant in the southeastern part of the state.
Website The Verge reports that the Wisconsin Economic Development Corp. has said that since the proposed 20 million-square-foot, 13,000-employee LCD display plant in Mount Pleasant isn't going ahead as planned, the Taiwan-based electronics company does not meet the terms of its agreement with the state for $4.5 billion in tax subsidies.
While Foxconn is opening a 1 million-square-foot plant there to make personal protective equipment this year, it fails to meet hiring goals noted in the original agreement, the state said.
"At the end of this year, Foxconn would need to employ at least 1,820 people, a number it is nowhere near reaching," The Verge reported.
The company also had promised more than $4 billion in spending to a local supplier base, including for plastics.