Foxconn mostly abandons $10 billion Wisconsin project touted by Trump

[turbinetree]

Source: CNBC

PUBLISHED WED, APR 21 20215:46 AM EDT

Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”

Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.

The Foxconn-Wisconsin deal was first announced to great fanfare at the White House in July 2017, with Trump boasting of it as an example of how his “America First” agenda could revive U.S. tech manufacturing.

Read more: https://www.cnbc.com/2021/04/21/foxconn-mostly-abandons-10-billion-wisconsin-project-touted-by-trump.html

[magicarpet]

1. Once again,... a fabulous trDUMP fortune disintegrates into a flop.

[modrepub]

2. Politicians And Business Do Not Mix

If you've chosen to be a politician, by default you're a lousy business person. Folks who believe politicians and their business "models" will soon be parted from their tax dollars.

Now maybe business tax incentives work, but only if they apply evenly to all businesses (including Tony the hot dog cart vender) and they are capped so the big players don't get all the benefit.

[iluvtennis]

6. + agree. nt

[Canoe52]

3. I wonder how the Carrier plant is doing that the idiot "saved"?

[Jay25]

4. Trump's no longer an asset, so no further need for pretensions.

[Wild blueberry]

5. Don't forget Wanker

Foxconn (emphasis on CON) was Scott Walker's self-professed Shining Accomplishment. False, hollow, rotten.

[riversedge]

11. @scottWalker and #wisconsin #Republicans @wisGOP scamed the taxpayer!!

[usaf-vet]

7. Who is or has paid the price? My understanding is that people lost their homes and property....

..... to the massive project PUSH by then-Governor Scott Walker.

Many taxpayers protested this project. The protester's complaints were ignored.

What is the COST today to Wisconsin taxpayers and future taxpayers?

IT WAS A LIE AND A SCAM FROM DAY ONE!

[Firestorm49]

15. Absolutely. And so far, after the state of Wisconsin poured millions into infrastructure,

Foxconn has provided, supposedly, a few hundred jobs. Ooh! Wow!

This has been another boondoggle promoted by short sighted Republicans, namely, Skippy Walker and his cronies. Foxconn has a history of reneging on their obligations all across the country. As Vizzini once said in The Princess Bride, “Never trust an Asian in a land war.”

Wisconsin, the property owners in the area who were forced out by eminent domain, as well as all Wisconsin taxpayers, have been royally screwed by 1 Republicans (again) and 2 Foxconn.

Gov. Evers is trying to forge a deal. We’ll see how it works out, but don’t bet on very much.

[edhopper]

8. Another giant Trump failure/scam

that his devoted cult will ignore.

[KG]

9. nothing that sewer rat has ever done has been on the up and up.

[Ford_Prefect]

10. IMO this is what Foxconn planned for in order to get the tax deferment and other benefits on offer.

We saw Dell do the same thing in NC. Big up front promises to get tax and other benefits for investment, and then flee or reduce the deal once they had reaped them.

[Javaman]

12. I've been following this slow motion Titanic since it was first announced.

none of this surprises me. the entire thing was nothing but pure unadulterated bullshit since the start.

the amusing part is: foxconjob still claims it will still hire 1454 people.

I don't think that will happen. I think in the end, they will pack what ever bags they have here, pull up stakes and tell Wisconsin to take a hike.

this was nothing more than a gigantic grift.

and now that the orange asshole is out, foxconjob did a cost benefit analysis on their ability to continue to spread their bullshit. They found that it was no longer an option.

so give time, this saga is not yet finished.

there is still more bullshit from foxconnjob yet to come.

[LuckyLib]

21. On target: "unadulterated bullshit" from the start. Wanker and Drumpf

waltzing together for the RW press and nut job followers. Disgusting waste of money, land, and human effort.

[SWBTATTReg]

13. I hope that these rip off artists get what they deserve, in ripping off tax payers and also,

that the state of WI has a claw back feature on any benefits already paid out.

[IllinoisBirdWatcher]

14. Dumpster tRump and Wanker Walker

How much did Wisconsin taxpayers spend on infrastructure for this "wonder" of tRump's world?

Another typical con.

[Firestorm49]

17. Much needed freeway improvements were put on hold so Skippy could divert the money,

which they could not seem to come up with earlier for actually needed road improvements, and fork it over to another con job named Foxconn. What a joke. Actually, it’s not a joke. It’s infuriating..

[IllinoisBirdWatcher]

19. and instead building miles of roads for the "thousands" of workers who

will now never work at the "Fox Con." Miles of empty roads built to hold massive transport trucks going nowhere through the farm fields east of I-94.

Infuriating is the correct word.

[monkeyman1]

16. FOX --- "CONN" KEY WORD !!

[Initech]

18. Guess Wisconsin got "Art of The Deal'd"?

I'll show myself out!

[Praek3]

20. Scott Wanker & Dotard Trump

Seriously can anyone list two things either of these two pos have done, that were successful and of benefit to society writ large?

[Xolodno]

22. Probably what they wanted the whole time.

I forget the movie, but it stars Johnny Depp as a reporter in Puerto Rico. A developer enlists his help for favorable news treatment...but he eventually relents and fails.

But in one scene one of the developers say; yeah we only want one luxury resort tower, but were going to propose two. They'll push back and we will fight a little and then relent. So it looks like they won, but in reality, we got what we wanted.

[JustABozoOnThisBus]

23. Can the abandoned Foxconn building be re-purposed as a Casino/Resort?

With the name "TRUMP" emblazoned over the door, it should bring billions to Wisconsin.