Foxconn has announced that it will be building a plant, possibly in Wisconsin, that could support up to 3,000 jobs in the next four years or so, and state authorities are mulling over the possibility of offering the firm around $3 billion worth of tax breaks and other initiatives in return for going through with and expanding on that plan in order to create what's been nicknamed the "Wisconn Valley." The entire plan would center around the aforementioned plant, which could be expanded in the future to support up to 13,000 jobs. Foxconn's announcement of the plant put the estimated total cost at around $10 billion, and the company announced that the plant would be dedicated to producing LCD screens.
The whole operation is pending on both sides as of now. Foxconn has not filed for permits, broken ground, or made any other moves toward completing the project beyond the initial announcement. As things stand now, state Governor Scott Walker will be holding a state legislative session this week that will be dedicated to deciding whether to offer the initiative to Foxconn. If the decision to make the offer is reached, the proposed initiative package is set to be disbursed over the course of 15 years in order to foster long-term engagement with the project from Foxconn.
Foxconn announced a similar plan, albeit on a smaller scale, back in 2013. The company was initially supposed to lay down around $30 million to create 500 jobs at a new plant in Pennsylvania. Thus far, the tech giant has not given any updates on the project, and has made no moves to complete it; essentially, it's either stuck in planning limbo or has been scrapped entirely without another word on the matter from Foxconn. It is also possible that this project in Wisconsin could suffer a similar fate, which may be at least part of the motivation behind offering Foxconn such a significant sum in return for actually going through with the expansion that the company announced. If negotiations between Foxconn and the state of Wisconsin are successful, such a development could set a precedent that may help entice more Asian manufacturers to set up shop in the United States.