Hon Hai Technology Group (Foxconn) will be eligible to receive nearly $30 million in tax credits in Wisconsin, the United States. This is the first time Hon Hai has received U.S. state assistance since breaking ground on its facilities in the state in 2018.
According to reports, documents obtained by the Wisconsin State News confirm that Hon Hai has reached the benchmarks for job creation and investment and therefore is eligible for the credit. According to the documents, Hon Hai created 579 eligible jobs at its factory in Racine County last year and made a capital investment of US$266 million, making Hon Hai eligible for US$2.2 million in employment deductions and 26.6 million. U.S. dollar capital investment deduction.
According to the report, the new tax agreement between Hon Hai and the state government is similar to the performance-based incentive program. Hon Hai can obtain tax incentives as long as it meets its recruitment and capital investment goals, without requiring specific requirements for the company's production content.
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