Foxconn story far from a happy ending

The final chapter may be long from written. But so far, the story of Foxconn in Wisconsin isn’t exactly the great story we were told it would be. We were told the state’s $4.5 billion investment in the foreign technology company would create 13,000 jobs. Turns out, after year one, the company has failed to live up to its promises. The contract with the state called for Foxconn to create more than 1000 jobs in year one in order to qualify for state tax credits. They weren’t even close. In year one Foxconn created less than 200 jobs, less than even the minimum amount to qualify for any state money. The good news is taxpayers aren’t on the hook, and Foxconn could still claim the available tax breaks by creating lots more jobs next year. But it is concerning the story keeps changing from what were first told. The company’s footprint in southeastern Wisconsin won’t be as big. The screens they make are a different sort, smaller, requiring a smaller investment. And now we now they aren’t yet creating the jobs they promised. It is too early to say the story of Foxconn won’t someday have a happy ending, but so far this is not a great read.