Foxconn, the world's largest electronics maker significantly reduces the scale of a $10 billion investment to build a plant in Wisconsin, United States.

An agreement jointly announced by Foxconn and the governor of Wisconsin indicates that the scale of Foxconn's investment in the upcoming plant in Wisconsin will be significantly reduced from the initial $10 billion to $672 million.

According to the agreement, the planned number of jobs will be reduced from 13,000 to 1,454, and the tax credits provided by Wisconsin for the project will be reduced from $2.85 billion to $80 million.

When the investment was announced, the 20-million-square-foot site marked the largest foreign investment in a new plant in U.S. history.

Foxconn noted that the company has invested $900 million in Wisconsin since 2017, including several different facilities in the state.

Source: https://www.reuters.com/business/foxconn-sharply-scales-back-wisconsin-investment-2021-04-20/