Taiwan-based Apple supplier Foxconn is failing to deliver on promises associated with its multibillion-dollar manufacturing facility in Wisconsin – so much so that the state is withholding coveted tax incentives.

The world’s largest electronic provider was promised a $3 billion incentives package, but failed to meet key milestones necessary to receive subsidies, documents first reported by The Verge showed.

The Wisconsin Economic Development Corporation on Monday denied Foxconn’s application for tax subsidies on the basis that it did not hire the promised number of eligible employees and that it was not following through on plans to build a liquid crystal display fabrication facility.

“It is evident from the Recipients’ 2019 Annual Project Report that the recipients are not building a 10.5 Fab, and that current activities are smaller in scale and economic impact to the region and the State of Wisconsin than those projected by the analyses run on the 10.5 Fab when WEDC initially approved and executed the agreement,” the WEDC wrote.

APPLE PARTNER FOXCONN MULLS NEW FACTORIES FOR MEXICO, NOT CHINA 

As noted by The Verge, Wisconsin lawmakers have tried to renegotiate the company’s contract for the facility – but have so far been unable to do so.

Wisconsin lawmakers originally put together a $3 billion incentives package to lure the company to the state.

A spokesperson for Foxconn did not return FOX Business’ request for comment.

FOXCONN’S REVENUE HAMMERED BY CORONAVIRUS

The deal to build the facility was struck in 2017 by former Republican Gov. Scott Walker, and has been touted by President Trump as a victory for the U.S. manufacturing sector. As part of the deal, state lawmakers negotiated a package including about $3 billion

CHICAGO, Oct. 6, 2020 /PRNewswire/ — According to the new market research report Power Plant Boiler Market by Type (Pulverized Coal Towers, CFB, Others), Capacity (<400 MW, 400–800 MW, ≥800 MW), Technology (Subcritical, Supercritical, Ultra-supercritical), Fuel Type (Coal, Gas, Oil), and Region- Global Forecast to 2025″, published by MarketsandMarkets™, the global Power Plant Boiler Market size is expected to grow from an estimated USD 18.1 billion in 2020 to USD 22.8 billion by 2025, at a CAGR of 4.8%, during the forecast period. Market growth can be attributed to the increasing demand for electricity and the rising consumption of clean fossil fuel for power generation.

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By type, the pulverized coal towers segment is the largest contributor in the Power Plant Boiler Market during the forecast period.

In pulverized coal tower type boilers, coal is pulverized to a fine powder. The pulverized coal is blown into the boiler plant through a series of burner nozzles using combustion air. Most coal-fired power stations and many large industrial water-tube boilers use pulverized coal.  The growth of this segment is driven by advancements in supercritical and ultra-supercritical technologies to upgrade conventional and aging power plant boilers to improve efficiency.

Browse in-depth TOC on “Power Plant Boiler Market”
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https://www.marketsandmarkets.com/Market-Reports/advanced-utility-boilers-market-117514945.html 

By capacity, the <400 MW segment is expected to grow at the fastest rate during the forecast period.

Power plant boilers less than 400 MW are small-sized boilers in terms of capacity. These types of power plant boilers are used for reliable and stable baseloads on a smaller scale. Increasing investments by companies to increase the efficiency of power are expected to continue to drive the growth of the <400-MW capacity segment in

add Chinese customs statement on Thursday

SAO PAULO/BRASILIA, Sept 30 (Reuters)China on Wednesday said it would temporarily suspend imports from a beef plant owned by Brazilian meatpacker Minerva SA BEEF3.SA for a week, in the latest suspension amid concerns over coronavirus contamination in Brazilian meat plants.

The Chinese customs authority said in a statement on its website dated Wednesday that the suspension would take effect on Thursday and last for one week, after which imports could resume.

The statement did not give a reason for the suspension and identified the facility by its registration number as a plant in the Barretos municipality of Sao Paulo state.

According to a Chinese customs statement issued on Thursday, the authority said the suspension came after a package of frozen boneless beef from Minerva SA had tested positive for the coronavirus.

Minerva declined to comment. The company is South America’s largest exporter of beef, with China being the largest importer of Brazilian meat.

As the coronavirus ravaged Brazilian meat facilities with thousands of cases, China has halted meat imports from Brazilian food processors including Marfrig MRFG3.SA, JBS SA JBSS3.SA and BRF SA BRFS3.SA over contamination concerns in the past few months.

Not including the weeklong Minerva temporary suspension, a total of seven Brazilian meat plants remain suspended from exporting to China, with some of them having stopped shipments voluntarily, according to Chinese customs office records.

Marfrig’s chief executive said on Tuesday that he expects China to issue new export licenses to Brazilian and Argentine meat plants later this year, but did not give further details.

(Reporting by Nayara Figueiredo and Jake Spring, and Muyu Xu in Beijing Editing by Chizu Nomiyama)

(([email protected]; +55 61 99653-2429; Reuters Messaging: [email protected] / Twitter: https://twitter.com/jakespring))

The views and opinions expressed herein are

Ohio is ordering General Motors to pay back $28 million in tax credits after it failed to meet the terms of the 30-year agreement by closing its Lordstown plant after 10 years.

GM has also been ordered to invest an additional $12 million for community development in the state, which has long struggled to regain its former manufacturing swagger.

In 2008, with gas prices soaring, GM received more than $60 million in tax credits for agreeing to keep 3,700 employees at the plant through 2028 under the Job Retention Tax Credit program and for agreeing to create 200 new jobs under the Job Creation Tax Credit program if it maintained operations through 2037 to develop the fuel-efficient Chevy Cruze.

“The company did not maintain its commitment to retain the jobs,” the Ohio Development Services Agency said in a news release.

If Ohio had ordered the repayment of all of the $60.3 million in tax credits, it would have been one of the largest tax credit clawbacks in U.S. history.

Presidential candidate Donald Trump traveled to the region in 2016 and told rallygoers, “Don’t move, don’t sell your house,” because the jobs that had left Ohio were “all coming back” if he was elected.

But in 2018, the company announced amid declining sales that it would cease production of the Cruze at the Lordstown plant and shut down operations, along with those of four other North American plants.

Construction of a GM joint-venture battery cell plant began this year on the site of the former facility with the promise of creating 1,100 new jobs. And a new company called Lordstown Motors, working with a financing deal with GM, began producing an electric pickup truck called Endurance, also on the former grounds.

Trump travels to Cleveland on Tuesday to appear in the