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Foxconn objects to Wisconsin's denial of tax credits

Posted at 2:02 PM, Oct 30, 2020
and last updated 2020-10-30 15:02:55-04

MADISON, Wis. (AP) — Foxconn Technology Group has notified the state of Wisconsin that it objects to the state’s denial of job-creation tax credits.

The Wisconsin Economic Development Corp. earlier this month said that Foxconn did not qualify for tax breaks based on capital investments and hiring done in 2019.

The state economic development agency determined that Foxconn only hired 281 full-time employees who are eligible to count toward tax credits at its facility in southeastern Wisconsin and made just $300 million in capital expenditures.

Taiwan-based Foxconn disputes those numbers and said it a letter Friday that it hopes to resolve the disagreement within 30 days.

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