Developer Sues Foxconn For Breach Of Contract Over Stalled Wisconsin Project

Lawsuit Seeks Damages On Behalf Of Mount Pleasant, Racine County, Residents

Three years after committing to build a state-of-the-art manufacturing facility and create 13,000 jobs in Wisconsin that have still yet to materialize, Taiwanese tech company Foxconn is being sued by a real estate company for failing to deliver on its promises.

The lawsuit, filed in Racine County Circuit Court by Daniel Hintz, and Hintz Real Estate Development Co., also names Racine County and the Village of Mount Pleasant, which has spent millions of dollars on upfront investments, including infrastructure and land acquisition for the project since 2017.

Foxconn originally proposed a "Gen 10.5" facility that would manufacture the latest high-tech LCD monitors in Mount Pleasant. In return, the state`s GOP leaders signed a $3 billion tax incentive deal based on job creation....

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Ken Notes: This would set a horrible precedent as most projects begin with visions or grandeur that are more often than not unrealized. Remember every professional athletic team begins the season with a vision of super bowl or world series win at the end of the year. We need to understand development like football is a difficult game...

Has anyone else noted that when the story ins negative the Foxconn dome is half complete when it is positive...



- - Volume: 9 - WEEK: 6 Date: 2/5/2021 8:15:07 AM -