MOUNT PLEASANT, Wis.—Nearly five years after iPhone assembler Foxconn Technology Group unveiled plans for a factory that would transform this corner of southeastern Wisconsin into a high-tech manufacturing hub, only a few buildings occupy the 3,000-acre site, a huge power substation stands largely untapped and new roads are sparsely traveled.

But Taiwan-based Foxconn remains on the hook to pay for the infrastructure improvements and land acquisition for its now-abandoned grand plans. Starting next tax year, Foxconn’s payments to a special tax district in this village of around 27,000 people will more than double to about $36 million a year and stay at that level for more than 20 years until the debt on the infrastructure is paid off.



Source link

By Author

Leave a Reply

Your email address will not be published.

%d bloggers like this: