October 28, 2021

The Queens County Citizen

Complete Canadian News World

Foxconn’s investment is less than Trump promised

Foxconn's investment is less than Trump promised

Image copyright
AFP / Getty

Image title

Foscon initially said it would invest $ 10 billion in a new manufacturing facility in Wisconsin

While US President Donald Trump praised the company’s promises to build a factory as a symbol of American manufacturing revival, Foxconn Technology Group fell short of its promises in 2017.

Politicians say the deal could eventually create 13,000 new jobs.

But it has brought in less than 300 jobs so far – far below the initial targets, Wisconsin officials said.

Foxconn has already said it is changing its plans for the plant.

Wisconsin officials have identified the job numbers so far in a letter condemning Foxconn’s tax breaks, which the state gave to Apple’s major supplier as part of a 2017 deal.

The incentives for the company to meet certain investment and job creation goals were conditional and caused significant controversy in Wisconsin, an important state in the U.S. election calculus.

The move by state officials to stop tax breaks a few weeks before voters in America go to the polls to determine whether Trump is eligible for a second term as president.

  • Trump-backed US factory ‘re-examined’
  • US Foxconn concessions provoke debate

In 2016, Mr. Trump, with the campaign slogan “Make America Great Again”, sought to present his tenure as a boon to the American economy.

Even before the economic collapse caused by the pandemic, employment in the manufacturing sector was relatively flat.

Democrats in Wisconsin have seized statistics as further proof of the deal, claiming the state spent $ 1 billion on the project.

“This is one of the promises that shattered Foxconn’s legacy, the lack of transparency and the complete failure to create jobs,” said Gordon Hintz, a Wisconsin state spokesman, state Democrat leader and critic of the project. “Republican politicians need to be held accountable.”

READ  Quebec has reported more than 3,000 cases