Is this Korean investment going to turn out to be similar to the FoxConn "Eighth Wonder of the World" investment in Wisconsin?
What happened to Foxconn plant in Wisconsin? A look at the $1.2 billion spent and where it all went
www.nbcmiami.com
... It was supposed to be a giant manufacturing plant that would spur the growth of "Wis-con Valley." Instead, it's a mostly-abandoned stretch of four lane roads and barren fields.
In 2018, President Donald Trump came to southeast Wisconsin to proclaim the coming of "the eighth wonder of the world."
He was standing on a plot of land near Mount Pleasant, Wisconsin -- a mostly-rural village of 27,000 people nestled between Racine to the east, and Interstate 94 to the west.
That "eighth wonder" was a sprawling new manufacturing plant, to be built in Mount Pleasant by a giant Taiwanese tech company called Foxconn, which promised to hire more than 13,000 local people to build high-definition TV screens.
Local and state officials said it would be the beginning of a technological renaissance in the area, which they planned to call "Wis-con Valley."
It never happened.
But, over the past seven years, the toll it took on Mount Pleasant residents, the billions of dollars it sucked from state and local coffers and the virtually-barren land that's been left in its wake are a painful lesson on what can happen when public officials jump on an opportunity without really studying a company's history and listening to citizens, before committing more than $1 billion of those citizens' money on a project that didn't make a lot of sense in the first place. ...
