Foxconn, Wisconsin Reach New Deal On Scaled Back Facility

(AP)

MADISON, Wis. (AP) — Foxconn Technology Group has reached a new deal with reduced tax breaks for its scaled-back manufacturing facility in southeast Wisconsin.

Gov. Tony Evers and the world’s largest electronics manufacturer announced the new deal on Monday.

Details of the new agreement were not immediately released.

A person with knowledge of the new contract who was not authorized to speak publicly about the deal said Monday that it will reduce the potential tax breaks by billions of dollars and still have potential tax breaks worth more than $10 million for the company.

It was scheduled to be approved at a Tuesday meeting of the Wisconsin Economic Development Corp.

The original deal with nearly $4 billion in state and local tax incentives was struck in 2017 by then-Gov. Scott Walker.

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