https://www.engadget.com/foxconns-promise-to-invest-10-billion-in-wisconsin-is-now-a-distant-memory-090555405.html

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

It's now selling two mostly empty buildings in the state.

President Donald Trump participates in a Foxconn groundbreaking
ceremony, Thursday, June 28, 2018, in Mt. Pleasant, Wis. From left,
Gov. Scott Walker, R-Wis., Trump, Foxconn Chairman Terry Gou, and
Speaker of the House Rep. Paul Ryan, R-Wis. (AP Photo/Evan Vucci)
ASSOCIATED PRESS
Mariella Moon
Mariella Moon|@mariella_moon|August 29, 2023 5:05 AM

When Foxconn announced its plans to open facilities in Wisconsin back
in 2017, it promised to invest $10 billion into bringing production
to the US that was expected to lead to as many as 13,000 jobs. Now,
the Taiwanese supplier to tech giants like Apple is selling two
properties in Eau Claire and Green Bay, purchased for almost $12
million in 2018. The property listings were first reported by
Wisconsin Public Radio (via Gizmodo and The Verge), which revealed
that only three floors of the Green Bay building's six floors are in
use. Meanwhile, the portion Foxconn owns in a mixed-use property in
Eau Claire has reportedly remained empty for years. 

Foxconn originally said that it was going to build "innovation
centers" in Wisconsin, including one that will serve as an LCD
factory. The project was supposed to be massive enough to strike a
$2.85 billion tax credit deal with the local government. At the time
the project was announced, then President Donald Trump said that if
he didn't get elected, Foxconn "wouldn't be spending $10 billion" on
manufacturing in the US. The former president was also there when the
project broke ground, equipped with a golden shovel. 

In 2021, however, Foxconn massively altered the scale of the project
and told the local government that it would be investing $672 million
instead of $10 billion like it intended. It also reduced the number
of potential jobs produced to 1,454 from 13,000 positions. The
company said back then that its original projections "changed due to
unanticipated market fluctuations" and that reducing the scale of its
project in the US gives it the "flexibility to pursue business
opportunities in response to changing global market conditions."

Foxconn didn't comment on its Eau Claire property, but it told WPR
that it "will add to the vibrancy of the city's downtown." Green Bay
Mayor Eric Genrich posted on X that he hopes a sale "will lead to
better utilization of a fantastic waterfront building."

    This is a great property downtown. Hoping this potential transfer
    in ownership will lead to better utilization of a fantastic
    waterfront building. https://t.co/BHTScUNbzF

    -- Eric Genrich (@MayorGenrich) August 15, 2023

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