Donald Trump Terry Gou

Foxconn is currently building a giant factory complex in Wisconsin, powered partially by $4.5 billion in taxpayer subsidies.
But Foxconn is increasingly backing away from some of its promises to Wisconsin politicians and President Donald Trump.
Wisconsin could be subsidizing Foxconn up to $1 million per job created, according to the New Yorker.
Now Foxconn is looking to bring Chinese engineers over to the United States because it can’t find enough skilled workers for the plant, the Wall Street Journal reported.

Foxconn chairman Terry Gou didn’t become one of the most powerful people in technology by being bad at negotiating.

And increasingly, it seems like he and his company, which manufactures electronics like the Apple iPhone and Microsoft Xbox, negotiated a stunning package to build a 21.5-million-square-foot factory complex in Wisconsin.

In exchange for building that massive factory, which Foxconn said at the time could create 13,000 blue collar jobs, the Taiwanese electronics giant received:

$4.5 billion in taxpayer subsidies, most of it in “direct cash payments from taxpayers.” That works out to between $220,000 and $1,000,000 per job created.
An exemption from limits on smog pollution and other environmental rules, allowing it to reroute …read more

Source:: Businessinsider – Technology

      

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