11-12-21 foxconn mystery in wisconsin

What exactly is Foxconn doing in Wisconsin?   Since arriving in Wisconsin in 2017, Foxconn has made several high profile announcements that have either underperformed or been quietly abandoned.  This week marks the four year anniversary when former Governor Scott Walker signed a deal that would have provided Foxconn with nearly $3 billion in state tax credits if it invested nearly $10 billion and created 13,000 jobs which never came to pass.  Under a new deal announced earlier this year, Foxconn would qualify for $80 million in state tax credits if it employs just over 1,400 people and invests $676 million by 2026.    That’s more state assistance offered more than a decade ago to keep Mercury Marine in Fond du Lac even though Merc has created more jobs and invested more money than Foxconn is required to do.  Fonddu Lac County executive Al Buechel says the county also provided Merc  a $50 million loan,  with half of that used to invest in bringing a new boat engine technology to market.  Buechel says the problem with the Foxconn project is that the marketplace has changed.   In less than ten years Merc expanded it’s workforce by 12 percent adding about 1,700 jobs, invested more than $1 billion in expansion and research and development and was named Manufacturer of the Year in 2019.   Earlier this month Foxconn struck a deal to purchase an electric automaker plant in Ohio,  raising more questions about what’s next for Wisconsin?  Foxconn says to date they’ve invested approximately $900 million in Wisconsin, including an “advanced manufacturing” facility in Mount Pleasant.