Taiwan’s Foxconn qualifies for nearly $30 million tax breaks in Wisconsin

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FILE PHOTO: Construction continues on the Foxconn manufacturing complex in Mt. Pleasant

– Foxconn has qualified for $28.8 million in Wisconsin tax credits as the Taiwan electronics manufacturer, best known for making Apple iPhones, pushes to set up manufacturing plants in the state.

The world’s largest contract manufacturer of electronic devices has been working on a 20-million-square-foot manufacturing campus in Wisconsin, in which it will invest $10 billion over four years, to build electric vehicles.

Over the past year, Foxconn has created 579 jobs and has invested $266 million in the community, with nearly $1 billion in total investments for Wisconsin, the state’s assembly speaker Robin Vos said in a statement.

“With the current work environment, it’s crucial we highlight and focus on the businesses that want to participate in Wisconsin’s economy,” Vos said.

The project, first announced in 2017, was once called “the eighth wonder of the world” by former U.S. President Donald Trump.

The company had said in April it would reduce its planned investment and cut the number of new jobs, citing market fluctuations and changing global market conditions.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)