Foxconn’s promise to speculate $10 billion in Wisconsin is now a distant reminiscence

When Foxconn introduced its plans to open amenities in Wisconsin back in 2017, it promised to speculate $10 billion into bringing manufacturing to the US that was anticipated to result in as many as 13,000 jobs. Now, the Taiwanese provider to tech giants like Apple is promoting two properties in Eau Claire and Inexperienced Bay, bought for nearly $12 million in 2018. The property listings have been first reported by Wisconsin Public Radio (by way of Gizmodo and The Verge), which revealed that solely three flooring of the Inexperienced Bay constructing’s six flooring are in use. In the meantime, the portion Foxconn owns in a mixed-use property in Eau Claire has reportedly remained empty for years. 

Foxconn initially mentioned that it was going to construct “innovation facilities” in Wisconsin, together with one that may function an LCD manufacturing facility. The mission was speculated to be large sufficient to strike a $2.85 billion tax credit score take care of the native authorities. On the time the mission was introduced, then President Donald Trump mentioned that if he did not get elected, Foxconn “would not be spending $10 billion” on manufacturing within the US. The previous president was additionally there when the mission broke floor, outfitted with a golden shovel. 

In 2021, nevertheless, Foxconn massively altered the scale of the mission and advised the native authorities that it might be investing $672 million as a substitute of $10 billion prefer it supposed. It additionally lowered the variety of potential jobs produced to 1,454 from 13,000 positions. The corporate mentioned again then that its authentic projections “modified because of unanticipated market fluctuations” and that decreasing the dimensions of its mission within the US provides it the “flexibility to pursue enterprise alternatives in response to altering international market situations.”

Foxconn did not touch upon its Eau Claire property, but it surely advised WPR that it “will add to the vibrancy of town’s downtown.” Inexperienced Bay Mayor Eric Genrich posted on X that he hopes a sale “will result in higher utilization of a unbelievable waterfront constructing.”