Foxconn’s Wisconsin Tax Break Haul Shrinks From $3B to $80M (1)

Foxconn Technology Group will receive a mere fraction of the $3 billion in tax subsidies once promised by Wisconsin under a retooled agreement designed to help the Taiwan-based tech giant build a science and technology campus south of Milwaukee.

The stripped-down tax incentive plan offers Foxconn up to $80 million in performance-based tax incentives over the next five years if it meets hiring and capital expenditure targets, Foxconn Vice Chairman Jay Lee and Wisconsin Gov. Tony Evers (D) said late Tuesday.

The agreement, approved earlier in the day by the Wisconsin Economic Development Corporation, stipulates Foxconn must make a ...