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thewayneSo when it comes to Foxconn, the emphasis is on the CON.
Two sets of offices are going up for sale in Green Bay and Eau Claire. There is some manufacturing going on, but contrary to the 10,000 jobs promised, FoxCONN says they've created around 1,000.
There's one problem with these going on the market right now. I don't know if this holds true for the Green Bay or Eau Claire commercial real estate markets, but commercial real estate is in a very sad state right now. The Return To Office movement after Covid showed the office drone work force that working from home was not only viable but good, has made it hard for businesses to get their workers back into the office. This has led to lots of businesses selling office space, not renewing rents, cancelling construction, etc. In other words, LOTS of empty office space.
Which leads us to the question: what will happen with another two large areas of office space hitting the market in WI? Even prime space in San Francisco and San Jose is not moving quickly - people like working from home! And newer, more flexible companies are capitalizing on it at the expense of companies that are showing themselves to be more rigid and demanding face-to-face time with their employees.
It will be interesting to see how long this space will remain on the market.
They got huge incentives from then-Gov. Scott Walker for a big industrial plant, ground was broken by then-Prez Trump, and that plant never produced what was promised. FoxCONN then promised design centers all over the state. Looks like another CONN.
How many of us are surprised?
https://www.wpr.org/foxconn-sell-green-bay-eau-claire-properties-development-jobs
Two sets of offices are going up for sale in Green Bay and Eau Claire. There is some manufacturing going on, but contrary to the 10,000 jobs promised, FoxCONN says they've created around 1,000.
There's one problem with these going on the market right now. I don't know if this holds true for the Green Bay or Eau Claire commercial real estate markets, but commercial real estate is in a very sad state right now. The Return To Office movement after Covid showed the office drone work force that working from home was not only viable but good, has made it hard for businesses to get their workers back into the office. This has led to lots of businesses selling office space, not renewing rents, cancelling construction, etc. In other words, LOTS of empty office space.
Which leads us to the question: what will happen with another two large areas of office space hitting the market in WI? Even prime space in San Francisco and San Jose is not moving quickly - people like working from home! And newer, more flexible companies are capitalizing on it at the expense of companies that are showing themselves to be more rigid and demanding face-to-face time with their employees.
It will be interesting to see how long this space will remain on the market.
They got huge incentives from then-Gov. Scott Walker for a big industrial plant, ground was broken by then-Prez Trump, and that plant never produced what was promised. FoxCONN then promised design centers all over the state. Looks like another CONN.
How many of us are surprised?
https://www.wpr.org/foxconn-sell-green-bay-eau-claire-properties-development-jobs
no subject
Date: 2023-09-01 06:39 am (UTC)no subject
Date: 2023-09-01 07:24 pm (UTC)And they found two suckers in Walker and 45. I think the state was able to claw back some money, but not all.