Foxconn qualifies for $8.7M in state tax credits for fiscal year 2023

Foxconn is eligible for more than $8.7 million in state tax credits for the 2023 fiscal year, according to the latest annual review from WEDC. 

The Taiwanese tech company, through multiple subsidiaries operating in Wisconsin, earned the annual tax credits by creating 1,114 jobs and making more than $24 million in capital investments. Those subsidiaries include: FEWI Development Corporation; AFE Inc.; SIO International Wisconsin, Inc.; and FII USA, Inc. 

Under the company’s tax credit agreement with the state, which runs through the end of 2025, the company can earn up to $80 million in total tax credits if it creates 1,454 jobs and invests just over $672 million during that period...

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Ken Notes: Remember they would love to walk away and they are still on the hook for a lot of infrastructure payback. They are doing business here and have created over 1,000 jobs.