Apple supplier Foxconn denied tax breaks by Wisconsin - Business Insider

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Wisconsin just denied Apple's biggest supplier a huge tax break after the company failed to build a factory that promised to bring thousands of jobs to the state

But according to the Wisconsin Economic Development Corporation , the company has yet to employ the number of people required for Foxconn to receive the subsidies, per the report. The agreement stipulated that Foxconn would need to have at least 520 people under employment by the end of 2019 to receive the tax subsidies. Foxconn claimed to have hired 550 people, but according to the WEDC, only 281 of them meet the qualifications listed in the contract.

"The Recipients are ineligible for tax credits because of their failure to carry out the Project," the WEDC wrote in its letter to Foxconn, according to The Verge. "The fact that the Recipients have neither built, nor started to build or operate, the required Generation 10.5 TFT-LCD Fabrication Facility is not in dispute.

The company attempted to tweak its existing contract with the state to align with its updated plans, which would include a smaller factory and a much lower number of people employed there, but a revised deal was never made.as the administration was moving forward with its call to reenergize manufacturing on American soil.

Foxconn is the largest iPhone maker in the world. Its massive manufacturing facility in Zhengzhou, China — otherwise known as "iPhone City,"

 

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