Foxconn’s promise to invest $10 billion in Wisconsin is now a distant memory

When Foxconn introduced its plans to open amenities in Wisconsin again in 2017, it promised to take a position $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 (through 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 stated that it was going to construct “innovation facilities” in Wisconsin, together with one that can function an LCD manufacturing unit. The challenge was alleged to be huge sufficient to strike a $2.85 billion tax credit score take care of the native authorities. On the time the challenge was introduced, then President Donald Trump stated 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 challenge broke floor, outfitted with a golden shovel. 

In 2021, nonetheless, Foxconn massively altered the dimensions of the challenge and informed the native authorities that it might be investing $672 million as a substitute of $10 billion prefer it meant. It additionally diminished the variety of potential jobs produced to 1,454 from 13,000 positions. The corporate stated again then that its authentic projections “modified on account of unanticipated market fluctuations” and that decreasing the dimensions of its challenge within the US offers it the “flexibility to pursue enterprise alternatives in response to altering world market situations.”

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