by Mike ‘Mish’ Shedlock
The Street
Foxconn’s $3 billion investment promise in Wisconsin turns more than a bit sour.
Eighth Wonder of the World
Please note Wisconsin Says Foxconn Doesn’t Qualify for Subsidies.
Wisconsin officials have denied a request by Foxconn Technology Group for the first payments in what had been envisioned as $3 billion in state subsidies for a major technology complex President Trump hailed as the “eighth wonder of the world.”
State officials said in a letter Monday that Foxconn had failed to create enough jobs to receive subsidies in 2019 and that the scope of the project had changed so much that it must draw up a new contract to qualify for future subsidies.