Tax breaks for Foxconn plant considered in Wisconsin

Posted August 04, 2017

Some observers said Trump intentionally released the encouraging news about the US$30 billion investment simply to encourage the small-business leaders.

"What we are getting from Foxconn is that they are committing to Wisconsin", Ryan said during a wide-ranging one-on-one interview with FOX6 News, NBC15's sister station. Trump announced last week that Foxconn will invest roughly $10 billion in Wisconsin to build a manufacturing facility that is expected to create up to 13,000 jobs in the state.

President Donald Trump casually mentioned Tuesday that Foxconn's chairman told him in confidence the electronics giant's investment could reach $30 billion, triple the size of last week's deal with Wisconsin that some already viewed as optimistically inflated.

"But he told me that off the record, so I promised I wouldn't tell anyone", Trump added. "We will provide an update as soon as we have finalised those plans".

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Tillerson's comments sound at odds with those of Vice President Mike Pence, who said the president is "unified" with Congress. The pair met a day after Trump fired FBI Director James Comey over the Russian Federation investigation.

Wisconsin's top economic development official Mark Hogan said Wisconsin had to be competitive with other states also trying to land the plant.

Thursday's hearing came just six days after the bill was introduced. Some Democrats and others have questioned whether the incentives are too much, while also raising concerns about the proposed waiving of state environmental permit requirements and other regulations to speed up construction.

The headline of this story has been corrected to reflect that Trump referenced a $30 billion investment, not $3 billion.

In related news, representatives of the medical equipment division within Foxconn recently met with the head of the Carbone Cancer Center at the University of Wisconsin-Madison about potential collaboration with cancer researchers in Taiwan, according to another USA media report. It's best known for making iPhones and other Apple devices but its long list of customers includes Sony Corp., Dell Inc. and BlackBerry Ltd.