Foxconn says that it remains committed to Wisconsin investment project

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on the top of the building in Taipei, Taiwan, March 30, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) – taiwan’s Foxconn said on Friday it remains committed to its contract to build a display plant and technical research facilities in Wisconsin, days after the U.S. state, the governor said that he wanted to negotiate the deal.

The democratic Governor Tony Evers, who has inherited a deal to give Foxconn $4 billion in tax breaks and other incentives when he took office in January, said Wednesday that he wanted new negotiations because the company does not expect that the employment goals for the state.

Foxconn’s proposed 20 million square metres of Wisconsin campus, announced at a White House ceremony in 2017, marks the largest greenfield investment by a foreign-based company in AMERICAN history, and was praised by President Donald Trump as evidence of his ability to revive the U.s. industry.

Foxconn, a major supplier of Apple Inc., has pledged to eventually create 13,000 jobs in Wisconsin, but said earlier this year had slowed down the pace of the rent.

“Foxconn remains committed to our contract, the company said in a statement on Friday.

“Foxconn’s commitment to the creation of jobs in Wisconsin will remain on long-term, and span over the length of the WEDC (Wisconsin Economic Development Corporation) the agreement and beyond,” he said, adding, the construction of the LCD-display of the production facility will begin in the summer.

In order to qualify for tax credits, Foxconn must meet certain hiring and investment goals under the current contract.

The deficit of the employment target in 2018, the hiring of 178 full-time employees, rather than the 260, and not to earn a tax credit of up to $ 9.5 million.

Reporting by Yimou Lee, writing by Miyoung Kim; Editing by with the ipad has Himani

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