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According to foreign media The Verge, a report released by the Wisconsin State Department of Finance and Executive Budget shows that Foxconn’s LCD factory in Wisconsin is far from complete.
The report confirms that Foxconn has yet to build the 10.5-generation liquid crystal display (LCD) factory specified in the contract. The report also pointed out that the factory claimed by Foxconn is only a 6-generation smaller LCD factory, and there is no indication that the factory can produce LCD, and it may be more suitable for display.
According to industry consultants in Wisconsin, Foxconn has yet to order the equipment needed to make LCDs. If this factory is to produce LCDs, it will be the world’s smallest sixth-generation LCD factory. “In the long run, it looks more like a model factory than a viable business.”
The analysis also indicated that if LCDs are to be produced at this factory, they can be produced elsewhere and imported into Wisconsin for final assembly. This plan has little impact on the local supply chain and will not hire Foxconn or the 13,000 workers expected in the contract.
Wisconsin Secretary of State Administration Joel Brennan said in an interview with The Verge: “Obviously, the sixth generation LCD factory built in Mount Pleasant is different from other sixth generation LCD factories in the world.”
This report also explains why Wisconsin has so far refused to pay Foxconn subsidies. The Wisconsin State Economic Development Corporation (WEDC), which was responsible for the transaction last week, rejected Foxconn’s first refundable tax credit of nearly $ 3 billion on the grounds that Foxconn did not build an LCD factory under contract.
Additionally, Foxconn did not hire the expected number of workers contracted with Wisconsin. By the end of last year, Foxconn had only hired 281 qualified people who complied with the contract, instead of the expected 2,080, or even the 520 required for tax subsidies. By the end of 2022, Foxconn should have hired 13,000 workers according to the contract, and it likely won’t be able to reach this number by then.
The Verge investigated Foxconn and found that in late 2019, a large number of regional college students and foreign graduates were recruited via visas to try and reach the required employment threshold for grants, but once the period of the visa, a large number of employees will be laid off.
The report also noted that Foxconn’s decline in employment this year has not met its contractual obligations, meaning it has maintained employment levels for several years.
(This article is reprinted with permission from Leifeng.com; source of first image: shutterstock)
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