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Technology

Foxconn to save $80m in taxes at sharply scaled-back US plant

Taiwan tech giant lowers initial $10bn investment in Wisconsin to $670m

Foxconn's facility in the Racine County town of Mt. Pleasant, Wisconsin, in April 2019.   © Reuters

PALO ALTO, U.S. -- Foxconn, the world's biggest contract electronics manufacturer, will receive $80 million in tax incentives if the company hits targets for job creation and capital investment under a massively scaled-back new deal at its plant in the U.S. state of Wisconsin.

The new agreement, announced by Foxconn and Wisconsin Gov. Tony Evers on Monday, was approved by the state's top business agency, Wisconsin Economic Development Corp., on Tuesday.

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