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Foxconn to build a $10billion tech factory in US
28 July 2017, 12:18 | Nellie George
Foxconn to produce display panels in Wisconsin - report
President Donald Trump'sannouncement Wednesday that Wisconsin had won the high-stakes fight to be home to Foxconn's first us manufacturing plant - a $10 billion investment that could mean 3,000 jobs or more for the state - comes as Walker is preparing to run for a third term. President Trump said at a White House ceremony about FoxConn's investment that the company's chairman Terry Gou "has been watching" the Trump administration roll back regulations. The company's initial investment will create 3,000 jobs at a minimum with potential of 13,000 in the very near future.
The new factory appears to be politically slanted to award Wisconsin for voting for Trump in a tight election and a state that just happens to be where House Speaker Paul Ryan and White House Chief of staff Reince Prebus are from.
Foxconn, a giant manufacturer of electronics like Apple's iPhone and Microsoft's Xbox, said on Wednesday that it plans to open its first major American factory in Wisconsin.
It's unclear whether the announcement in Wisconsin means that other states that were vying for the plant did not receive a Foxconn contract. Gou has made it clear he intends for Foxconn to build its brand and acquire leading technology of its own.
Now that Wisconsin has landed a coveted Foxconn plant it will need to quickly transition to a more highly skilled workforce than the assembly lines that established the state's manufacturing legacy.
The company said last month it plans to invest more than US$10 billion in a display-making factory in the United States.
Foxconn has announced plans to build a massive facility in the United States, one that will include housing units, service businesses, stores and more.
While a senior White House official deferred a number of questions about the deal to Walker, he said the deal was secured by in part by the newly created White House team tasked with modernizing government operations that's led by Trump senior adviser and son-in-law, Jared Kushner. The displays would be used for large-screen televisions. "It would also require "$1 billion to $3 billion in local, state and federal incentives" the paper reports.
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