MADISON - Wisconsin and Foxconn are on the brink of a new agreement over the tech giant's role in the Badger State, which so far has failed to live up to a $3 billion deal struck by Republicans and company officials four years ago.
Gov. Tony Evers announced Monday that his administration and Foxconn officials have reached an agreement on new terms and that the new deal will go before the Wisconsin Economic Development Corp. board of directors for approval on Tuesday.
“I’ve said all along that my goal as governor would be to find an agreement that works for Wisconsin taxpayers while providing the support Foxconn needs to be successful here in our state,” Evers said in a statement.
The WEDC declined to comment on the proposed deal citing its policy of not commenting on negotiations with companies before board approval.
Evers did not provide details of the new agreement.
Foxconn Board Chairman Jay Lee said the company "began formal negotiations with a desire to lower taxpayer liability in exchange for the flexibility to pursue business opportunities (that) meet market demand," according to the governor's office statement.