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Falling TV Prices Killed the Foxconn Factory

01 February 2019

Foxconn chief Terry Gou (郭台銘) and President Donald Trump announced the project at a White House ceremony in 2017, indicating that the factory would result in 13,000 jobs for the region, but only 1,000 might be hired by 2020, later reports said. "You can't use a factory to view our Wisconsin investment", Woo said.

But he added: "Given global economic conditions and the trade tensions between China and the US.it's impossible that we can always stay committed to our original plan without any change".

The company said that it remained committed to creating as many as 13,000 jobs in Wisconsin, and continued to "actively consider opportunities" involving flat-screen technology.

"In addition to our consideration of plans to produce traditional products such as television sets, we are also examining ways for Wisconsin's knowledge workers to promote research and development in advanced industrial internet technologies and produce high-tech applications and solutions for industries such as education, medical and healthcare, entertainment and sports, security, and smart cities".

To be sure, Foxconn has not said it is abandoning Wisconsin or the facility where it has already invested more than $200 million and employed 178 people as of December 31, 2018. Taiwan-based manufacturer Foxconn made a decision to build a 20-million-square-foot facility there, with the main focus being on manufacturing LCD panels for TVs.

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"It seems clear that, whatever Foxconn eventually develops in Wisconsin, this will look nothing like the project that Scott Walker and his cronies. sold to the public", Levine said in an email. Foxconn was required to invest $10 billion and create 13,000 jobs to get the full incentives.

Walker lost his reelection bid to Democrat Tony Evers in November amid harsh criticism of the Foxconn deal, which he'd championed since 2013.

Still, who supports the project, noted the company has already invested as much as $200 million in Wisconsin, and he's not anxious that the company might pull out.

"Trump bragged about his deal with Foxconn to bring jobs to Wisconsin".

There's been no response from Evers himself yet, though Secretary of Administration-nominee Joel Brennan says that despite regular communication with Foxconn officials, they "were surprised to learn about this development". Foxconn fell short of its employment goal in 2018, hiring 80 fewer people than the 260 it promised and missing a $9.5 million state tax credit. They also cited Foxconn's history of reneging on high-profile job-creation promises after the media spotlight fell away.

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What this move does affect is the local businesses that have agreed to partner with Foxconn.

"And now, it appears Foxconn is living up to their failed track record in the USA - leaving another state and community high and dry".

"Foxconn has broken its promises in Pennsylvania, Brazil, China, and now Wisconsin".

The massive scale of the Foxconn project was a major selling point for former Republican Gov. Scott Walker, who boasted that once it was finally built, the Wisconsin plant would be the size of "11 Lambeau fields".

Democratic critics said the incentives promised to Foxconn were too rich, and they questioned whether the company would ever fulfill its promises.

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Falling TV Prices Killed the Foxconn Factory