The China Post
Date: November 11, 2017
RACINE, Wis. (AP) — Wisconsin Gov. Scott Walker and Foxconn Technology Group
FILE – In a Monday, Aug. 21, 2017 file photo, Wisconsin Gov. Scott Walker speaks about the Foxconn deal at the Chippewa Valley Technical College Energy Education Center in Eau Claire, Wis. Walker planned to launch his re-election campaign for a third term Sunday, Nov. 5, 2017, at a factory outside of Milwaukee.( Marisa Wojcik/The Eau Claire Leader-Telegram via AP, File)
Chairman Terry Gou have signed off on a $3 billion contract for the Taiwanese company to build a massive display-screen factory in southeast Wisconsin.
Walker and Gou signed a contract Friday that locks the state into providing up to $3 billion in tax incentives if Foxconn invests $10 billion on a new display-screen manufacturing factory and campus near Racine. The company would also have to hire 13,000 workers to get the full benefit.
It is the largest state tax incentive package offered to a foreign company in U.S. history.
Gou says he will pay Wisconsin up to $500 million if Foxconn does not fulfill its side of the contract.
The contract signing comes after the state Legislature approved general terms of the deal. Wisconsin beat out several other states for the plant. [FULL STORY]