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Thread: Foxconn mostly abandons $10 billion Wisconsin project touted by Trump

  1. #1

    Foxconn mostly abandons $10 billion Wisconsin project touted by Trump

    The continuing saga of the taxpayer-subsidized, eminent domain-based plan to build a giant Foxconn factory in Wisconsin...

    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.

    For Foxconn, the investment promise was an opportunity for its charismatic founder and then-chairman, Terry Gou, to build goodwill at a moment when Trump’s trade policies threatened the company’s cash cow: building Apple Inc’s iPhones in China for export to America.

    Foxconn, the world’s largest contract manufacturer of electronic devices, proposed a 20-million-square-foot manufacturing campus in Wisconsin that would have been the largest investment in U.S. history for a new location by a foreign-based company.

    It was supposed to build cutting-edge flat-panel display screens for TVs and other devices and instantly establish Wisconsin as a destination for tech firms.

    But industry executives, including some at Foxconn, were highly skeptical of the plan from the start, pointing out that none of the crucial suppliers needed for flat-panel display production were located anywhere near Wisconsin.

    The plan faced local opposition too, with critics denouncing a taxpayer giveaway to a foreign company and provisions of the deal that granted extensive water rights and allowed for the acquisition and demolition of houses through eminent domain.

    As of 2019, the village where the plant is located had paid just over $152 million for 132 properties to make way for Foxconn, plus $7.9 million in relocation costs, according to village records obtained by Wisconsin Public Radio and analyzed by Wisconsin Watch.

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  3. #2
    I'd back out too.

    The guy I made the deal with is gone, and the people that supposedly are represented by his replacement want Marxism.
    According to government's own numbers, over half a MILLION people are dead, just in the US alone, because of a man made virus designed to be even more deadly than what would be found in nature, released, possibly on purpose, from a Chinese lab, a virus that that was created from funding and prior research given to the Chinese scientists by our own government because we, in fit of sanity, pulled the plug on funding here.

  4. #3
    Quote Originally Posted by Anti Federalist View Post

    The guy I made the deal with is gone, and the people that supposedly are represented by his replacement want Marxism.
    Did I miss something here that needs explanitized?

    Unless you meant something completely different and mistyped your entire sentence, reading word for word, ^^ that right there ^^ is why liberty is near extinction.

    Politicians, and GD voting “republicans” should stay OUT of politics altogether.
    “The right to life is the source of all rights—and the right to property is their only implementation. Without property rights, no other rights are possible. Since man has to sustain his life by his own effort, the man who has no right to the product of his effort has no means to sustain his life. The man who produces while others dispose of his product, is a slave.”

    An Agorist Primer

  5. #4
    Awww...suicide net manufacturers gonna be pissed!

    Quote Originally Posted by Anti Federalist View Post
    I'd back out too.

    The guy I made the deal with is gone, and the people that supposedly are represented by his replacement want Marxism.
    You'd think Communists would welcome a Chinese style Foxconn factory, no?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

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