A new chapter in the cautionary tale.
Foxconn Technology Group and the state of Wisconsin have reached a new deal, reducing tax breaks for a scaled-back project planned for Racine County in southeast Wisconsin, reports Scott Bauer for the Associated Press.
The terms of the deal, negotiated with Wisconsin Economic Development Corp., are still unannounced, but they follow a historic tax deal negotiated with the company in 2017, and touted as a major political victory for former Gov. Scott Walker and former President Donald Trump, before falling well short of expectations. The original deal promised $4 billion in tax breaks from the state, and concessions in environmental regulations, in return for the construction of a $10 billion manufacturing facility once promised to employ as many as 13,000 people.
A press release from the office of Wisconsin Gov. Tony Evers announced the new deal.
FULL STORY: Foxconn, Wisconsin reach new tax break deal for scaled-back project
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