Audit faults plans to credit Foxconn for work outside state
MADISON — The Wisconsin Legislative Audit Bureau says the state needs to modify its procedures so tax credits aren’t awarded for Foxconn Technology Group employees who don’t do work in Wisconsin.
The Audit Bureau on Wednesday released its findings that the procedures established by the Wisconsin Economic Development Corporation don’t comply with the law or the Foxconn contract.
No tax credits have been awarded to Foxconn. The first round would come next year.
WEDC Secretary Mark Hogan says there is “ample opportunity” to consider the audit bureau’s recommendations and make changes if necessary.
The state approved nearly $3 billion in tax credits to Taiwan-based Foxconn for its project near Racine. Foxconn says it plans to invest up to $13 billion and potentially hire 13,000 people at the display screen factory and campus.