Foxconn’s $10 Billion Wisconsin Investment Now Just a Fading Memory

In 2017, Foxconn made a commitment to invest $10 billion in establishing facilities in Wisconsin, with the expectation of creating up to 13,000 jobs. However, the Taiwanese supplier to tech giants such as Apple is now selling two properties in Eau Claire and Green Bay, which were purchased for nearly $12 million in 2018. Wisconsin Public Radio, as reported by Gizmodo and The Verge, discovered that only three out of the six floors in the Green Bay building are currently being utilized. Additionally, the portion of the mixed-use property in Eau Claire owned by Foxconn has reportedly remained vacant for several years.

Foxconn initially said it would build “innovation centers” in Wisconsin, including one that will serve as an LCD factory. The project had to be massive enough to win a $2.85 billion tax credit deal with the local government. When the project was announced, President Donald Trump said that if he wasn’t elected, Foxconn “wouldn’t spend $10 billion” manufacturing in the United States. The former president was also involved as the project progressed, equipped with a golden shovel.

In 2021, however, Foxconn massively changed the scale of the project, telling the local government that it would invest $672 million instead of the $10 billion it had planned. It also reduced the number of potential jobs created to 1,454 out of 13,000 jobs. The company said at the time that its initial projections “changed due to unexpected market fluctuations” and that scaling back the project in the US gives it “the flexibility to pursue business opportunities in response to changing global market conditions.”

Foxconn would not comment on its Eau Claire property, but told WPR it will “add to the vibrancy of downtown.” Green Bay Mayor Eric Genrich posted on X that he hopes the sale “will lead to better utilization of a fantastic waterfront building.”