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Foxconn Says It Will Build Wisconsin Factory After All (cbsnews.com)
Citing a phone conversation with President Trump, Foxconn said it will proceed with plans to build a government-subsidized plant in Wisconsin to make liquid crystal display screens. The news capped a week of reversals about the Taiwanese company's plans in the state. CBS News reports: Foxconn drew headlines in 2017 when it said the company would invest $10 billion in Wisconsin and hire 13,000 people to build a factory to make screens for televisions and other devices. State leaders offered nearly $4 billion in tax incentives to help seal the deal. Last year Foxconn said it would reduce the scale of the factory from what is known as a "Gen 10" factory to "Gen 6". But this week, Foxconn executive Louis Woo seemed to move away from a factory altogether, saying the company couldn't compete in the TV screen market and would not be making LCD panels in Wisconsin.
On Friday, in yet another twist, Foxconn said that, after discussions with the White House and a personal conversation between Mr. Trump and Foxconn chairman Terry Gou, it will proceed with the smaller manufacturing facility. Woo told Reuters earlier this week that about three-quarters of workers in Wisconsin would be in research and development, not manufacturing, and that the facility would be more of a research hub. Foxconn, the world's largest electronics company, said Friday the campus would house both an advanced manufacturing facility and a center of "technology innovation for the region."
On Friday, in yet another twist, Foxconn said that, after discussions with the White House and a personal conversation between Mr. Trump and Foxconn chairman Terry Gou, it will proceed with the smaller manufacturing facility. Woo told Reuters earlier this week that about three-quarters of workers in Wisconsin would be in research and development, not manufacturing, and that the facility would be more of a research hub. Foxconn, the world's largest electronics company, said Friday the campus would house both an advanced manufacturing facility and a center of "technology innovation for the region."
Wisconsin?
Some form of high tech booze? Perhaps an autonomous glass, that keeps pouring it down you, after you (pass out/puke/piss yourself)?
John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
I-94 to be tolled in 202x?
Unless you got that shit in writing, you honestly expect a corporation to actually do what they promise?
If you are stupid enough to give away $4 billion in incentives without a fairly detailed agreement, you're too stupid to be in the position of offering $4 billion in incentives in the first place.
Surely they have a written agreement with penalties spelled out, right?
Or have they just played everyone?
reduce their tax credits by $500 Million.
Celebrated a little too soon, huh? Your President Trump wins again. Of course, it's a little questionable how happy you anti-American scum gets whenever billion dollar business deals get cancelled and thousands of Americans lose their jobs.
They should nix Foxconn and just give the money directly to those a factory would create jobs for...
If the facility is never built, and no one is ever hired, how do you know who the hypothetical workers would have been?
Maybe they could just run a lottery, and give away tax dollars to random people. That would have the same overall effect.
Look at Foxconn's track record in other countries to see how this will all shake out in the end. They promise the world to get tax breaks and incentives and invariably scale back during the actual build and startup.
Right now there's a media firestorm and even Trump got dragged into it again so of course Foxconn can say they'll do the full factory to calm everything down, even though last week they were saying there's no profit to building LCD panels in the US. Talk. Is. Cheap. Let's wait and see what they actually end up doing. I bet it won't be anything close to what the talk promised. Just like in Brazil and Indonesia.
Right! Wisconsin people should learn to code and send those factory jobs overseas. Nobody should have a starter career.
Don't feed the NPC
They're just running out the Trump clock here...
What if I do not like the deal maker,oh well.
4 billion, divided by 13,000 employees is $307,692 per employee.
At $15/hr, that's 20,513 hours of wages
At 2080 work hrs per year that's a smidge under 10 years
So we're giving them tax breaks to make products and the tax breaks are as much as the factory would pay local labor over a 10 year period?
As Rick Sanchez might day: "That sounds like welfare but with extra steps"
Warning: Teh poster of this messaeg is lysdexic
I've made horrible life decisions. And I have a great job.
Har har har! You add no value or content and make no pint but NPC echo chamber likes!
Me like too because Orange Man Bad!!
Wisconsin minimum wage is currently $7.25. That's about $15,000 per year for working 40 hours a week.
How long will it take Wisconsin to recoup that $4.1 billion in tax incentives? Never.
https://www.theverge.com/2018/10/29/18027032/foxconn-wisconsin-plant-jobs-deal-subsidy-governor-scott-walker
Some doubt the subsidy will ever actually be recouped. “Realistically, the payback period for a $100,000 per job deal is not 20 years, not 42 years, but somewhere between hundreds of years and never,” wrote Jeffrey Dorfman, an economics professor at the University of Georgia, in a story for Forbes. “At $230,000 [or more] per job, there is no hope of recapturing the state funds spent.” And this was before the subsidy had risen to $4.1 billion, or about $315,000 per job.
It's a poor use of taxpayer money.
I feel like this sentiment is most strongly communicated by people who have only slightly better shitty jobs and project hostility towards people who don't see a slightly less shitty job as worth the effort. It's like they don't like their situation very much and are angry or jealous of people who won't accept the same crummy deal they got.
The angry blue collar worker pissed at his lazy kid who won't knuckle under and take the same blue collar job and future he accepted.
Many truly "good" jobs -- high wages, good working conditions, ample future growth opportunity -- either require skills or abilities that aren't universal, or are really the byproduct of a ton of luck, either in being born in the right place or being part of the right circles.
I don't think I could have become a surgeon no matter how hard I worked at it, for example, and I've certainly met IT people that were no smarter and less hard working than I was -- if they were, most of the time they wouldn't be paying me to do their projects.
Foxconn (con?) has a history of making grand job pronouncements only to later scale back of evaporate altogether. I'll believe that they'll build this LCD factory only when it is done and up and running. I feel bad for Wisconsin citizens, they were sold a bill of goods (jobs, prosperity) by corrupt politicians and greedy companies.