Fii, the subsidiary or Foxconn constructing these new buildings, is
not party to the terms of the state or local contracts with Foxconn.
Only SIO International, FEWI Development and AFE Inc. are. Mount
Pleasant knew this when they approved the plans for the Fii buildings,
never questioning whether it was legal or appropriate to allow public
land conveyed to Foxconn to be used for a purpose not agreed upon in
the contract or the TID.
Foxconn wants tax credits for the construction cost of these buildings
which represents a 15% cash rebate and a 17% payroll rebate on the
people they hire at Fii anyway.
In other words, Foxconn wants us to uphold our end of the contract
while they flagrantly disregard their end. Foxconn says these
distinctions are “immaterial.” Millions of public dollars are at
The Journal Times constantly ignores matters of fact regarding
Foxconn, preferring to play cheerleader, rather than a journalistic
advocate. It’s embarrassing.