Foxconn‘s U.S. construction plant or $3 billion in tax breaks

Tencent technology (on July 26, according to foreign media reports, apple iPhone supplier foxconn is planning the construction of large factories, in the American state of Wisconsin in the next few years, it has the potential to gain the federal, state and local governments to provide $1 billion to $3 billion tax credit. Supporters of the project say foxconn‘s factories could have a big impact on the state‘s economy. 

 

Photo: terry gou, chairman of hon hai precision, Taiwan‘s parent company, visited the foxconn factory in shenzhen on May 26, 2010 

 

In Wisconsin, such a massive stimulus would have been almost impossible to achieve, and the plan would have to be approved by the state legislature. Wisconsin senate majority leader Scott Fitzgerald has said he wants Democrats and republicans to support the stimulus plan. While Fitzgerald did not disclose more details, sources close to the situation said the overall stimulus package could be between $1 billion and $3 billion. 

 

The Milwaukee journal sentinel quoted a source as saying that foxconn would announce this week that it would include Wisconsin as the preferred option for the company. Foxconn executives have said that investing heavily in the us would create thousands of jobs. In recent weeks, they have visited Wisconsin and several other states in the United States to assess their options. 

 

Given foxconn‘s huge investment, one source said Wisconsin would offer a tax break of up to $1 billion. Three others said the offer was close to $3 billion. A fifth source said the deal was initially set at $3 billion, but has since fallen slightly. Two of the sources said the stimulus would be completed in 15 years. It is unclear whether the United States federal, Wisconsin, and how to allocate between local government stimulus plan, but incentives there are many different forms, including cash spending or tax cuts, infrastructure investment, loans, etc. 

 

For Scott Walker, the governor of Wisconsin, and Paul Ryan, the speaker of the house of representatives, it was a huge victory for foxconn to build a factory in the state. It also has an unusual meaning for President Donald Trump, who has promised to bring manufacturing jobs back to the us. The us manufacturing industry has been in recession for decades, and Mr Trump is the first republican presidential candidate to win Wisconsin after Ronald Reagan. 

 

The deal could be announced in Wisconsin or Washington, dc, the sources said. A source said Wisconsin will make a statement at the Milwaukee gallery. On Tuesday night, with foxconn CEO Terry Gou (Terry Gou) private plane has arrived Dulles international airport outside of Washington, d.c., the same gulfstream 650 also appeared in Milwaukee and Madison airport. Although official information about the plane has not yet been made public, its tail indicates that it is registered in Taiwan, and Taiwanese media have confirmed that the plane was Mr. Gou‘s seat. (compile/deer)