KENOSHA, WI -- Foxconn will dial back plans for a major LCD manufacturing plant here, citing changes in the market and customer needs.

"The global market environment that existed when the project was first announced has changed. As our plans are driven by those of our customers, this has necessitated the adjustment of plans for all projects, including Wisconsin," Foxconn said in a press statement.

A Foxconn spokesperson later told media that, "Given global economic conditions and the trade tensions between China and the US... it's impossible that we can always stay committed to our original plan without any change."

When Foxconn announced the plant, it touted $10 billion in investment and said it would hire 13,000 workers. The state of Wisconsin also wooed Foxconn with billions of dollars in tax incentives. (The size and scope of the investment was questioned by CIRCUITS ASSEMBLY, as Foxconn has a history of overstating its expansion intentions outside China.)

The firm held fast to its previous promise to create 13,000 jobs. However, it scaled back its plans. Now, the firm says, it will build a science park in Wisconsin, where "knowledge workers" can create "high-tech applications and solutions."

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account