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Foxconn 'ineligible' for tax credits until contract language changed, state official says

Posted at 3:17 PM, Dec 13, 2019
and last updated 2019-12-13 22:32:07-05

A state official tells TODAY'S TMJ4 that Foxconn will be "ineligible for tax credits until language in the original contract is changed.

In a statement sent to TODAY'S TMJ4, Foxconn Technology Group says they are in discussions with the State "regarding our commitment to bring substantial impact to Wisconsin’s economy workforce and educational institutions."

The company added they are "in compliance with the terms of the agreement with WEDC" and will "continute to work with the State in good faith."

"Foxconn is hopeful that we will arrive at a mutually acceptable resolution so we can continue with a project that is important to our company and to the development of technology in Wisconsin."

The new development was first reported by The Verge.

State officials say Foxconn has shrunk the scope of the original project, one that President Trump and former Governor Scott Walker helped bring to Wisconsin.

"We continue to see great progress each day on the ground here in Racine County," Racine County Executive Jonathan Delagrave said in a statement. "The local contract signed between Racine County, the Village of Mount Pleasant and Foxconn Technology Group ensures strong taxpayer protections and minimum valuation guarantees. Foxconn continues to fulfill all its obligations under the local contract. The State of Wisconsin's contract is separate."