In 2017, Wisconsin promised $3 billion in taxpayer money to Foxconn to build what President Trump called “the eighth wonder of the world.” By 2021, the governor admitted it wasn’t going to happen.
This is the most documented cautionary tale for any community considering massive incentives for a single developer. And it is the closest parallel to what Wheatland County is being asked to accept.
The Promise (2017)
President Trump, Speaker Paul Ryan, and Governor Scott Walker announced a $10 billion investment that would bring 13,000 jobs to Mount Pleasant. The plan: a state-of-the-art LCD manufacturing facility.
Wisconsin offered Foxconn $3 billion in tax breaks — the largest incentive in state history. Over 1,200 acres of farmland were rezoned for industrial use. The message was clear: this was a once-in-a-generation opportunity, and Wisconsin was all in.
The Reality
As of 2024, Wisconsin spent $683 million in taxpayer money on Foxconn. What does that buy you? Three massive empty buildings. Fewer than 1,500 jobs — less than 12% of the original promise.
The facility never produced a single LCD screen. The company pivoted, downsized, and collapsed in any meaningful form.
The Village of Mount Pleasant borrowed $808 million for roads, water, and sewer infrastructure built specifically for Foxconn. Foxconn never used most of it. The taxpayers are still holding that debt.
Governor Tony Evers said it plainly: “It’s not going to happen.”
Why It Failed
Single-company dependency. All the eggs, one basket. When Foxconn changed plans, the community had no backup.
No clawback. No penalty for missing job targets. Foxconn fell short year after year without consequence.
Infrastructure built before the tenant was secured. Mount Pleasant spent hundreds of millions before Foxconn committed to anything concrete. Once the infrastructure was in the ground, the village had lost its leverage.
Paid before delivered. Incentives were paid before job targets were met.
Rezoned land is leverage lost. Once farmland was rezoned, the government couldn’t undo it. The community had no exit strategy.
The Parallels to Goldfinch
Farmland being rezoned for speculative industrial use — just like Mount Pleasant.
A single developer — Diode — making promises without a named end user. Who is actually going to occupy the data centre? We don’t know.
No clawback mechanism made public. What happens if the jobs don’t materialize?
Infrastructure costs uncertain. Who pays for roads, water, and power upgrades? The community deserves answers.
No community benefits agreement. What guarantees are on the table?
Wheatland County could be left with rezoned land and zero development — just like Mount Pleasant.
The Foxconn Site Today (2026)
The Foxconn site is being marketed for other uses. The infrastructure is the only legacy. Taxpayers are still paying off the bonds. The farmland is gone forever — rezoned, cleared, and unlikely to ever return.
That is the real cost. Not just the dollars, but the irreversible loss of productive farmland, the debt left to the community, and the trust that was broken.
What This Means for Wheatland County
The same mistakes are being proposed today — on a smaller scale, but with the same fundamental risks.
The question every resident should ask: What happens if Diode doesn’t deliver?
We need clawbacks. We need a community benefits agreement. We need real answers about infrastructure costs. And we need a named end user before we rezone a single acre of farmland.
Learn the facts about the Goldfinch proposal. Then get involved before it is too late.
Read the facts about the Goldfinch Data Centre proposal
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