Foxconn Wisconsin Tax Deal
About Foxconn Wisconsin Tax Deal
In 2017, Foxconn announced a 10 billion display factory in Wisconsin, promoted by President Trump and Governor Scott Walker as a manufacturing renaissance. Wisconsin offered up to 4 billion in tax incentives, one of the largest state incentive packages ever. The deal was projected to create 13,000 jobs. The factory was never built at the promised scale. By 2021, Foxconn employed approximately 1,000 people in Wisconsin, far below the 13,000 promised. The property Foxconn did develop was used for various purposes, including storage. Wisconsin Governor Tony Evers renegotiated the deal in 2021, reducing tax credits to reflect actual employment. The Foxconn deal is considered a cautionary tale about corporate tax incentives. Wisconsin taxpayers paid for infrastructure and land acquisition that benefited Foxconn without delivering the promised jobs.
Related Entries
Stamp Act 1765
The Stamp Act of 1765 required American colonists to pay a tax on every piece of printed paper they ...
Magna Carta Taxation
Magna Carta, signed in 1215, limited the power of King John to impose taxes without consent. Clause ...
US Income Tax 1861
The first US federal income tax was enacted in 1861 to fund the Civil War. The Revenue Act of 1861 i...
16th Amendment
The 16th Amendment to the US Constitution, ratified in 1913, gave Congress the power to lay and coll...