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News Worms


Foxconn plans $10 billion Wisconsin plant; MI still in talks

Foxconn plans $10 billion Wisconsin plant; MI still in talks

"We are going to change that", Foxconn chairman Terry Gou said at the White House news conference. The number of jobs could eventually increase to 13,000, Trump said.

Foxconn - the manufacturer responsible for bolting together most of Apple's products - is planning to build a factory on U.S. soil, reports the New York Times.

President Donald Trump says that electronics giant Foxconn will build a $10 billion factory in Wisconsin that's expected to initially create 3,000 jobs. The campus dubbed "Wisconn Valley", would cover almost 1.6 square miles and be three times the size of the Pentagon.

Gov. Scott Walker shared the news at the White House along side President Donald Trump, Vice President Mike Pence and Speaker Paul Ryan.

The move is hailed by the White House as proof of the Trump administration keeping its promise to bring manufacturing jobs back to America, a talking point since he was on the campaign trail. Other states vying for the plant are Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas.

Trump said in an interview with The Wall Street Journal on Tuesday that Apple CEO Tim Cook had agreed to build "three big plants - big, big, big".

Wisconsin is one of the key states, including Pennsylvania and MI, which swung the election for Trump last November.

Foxconn's estimate on jobs was more conservative. He did not exactly specify where the plant will be built but focused on high definition "8k" displays with enhanced screen resolution. "In other words, if I didn't get elected, he definitely would not be spending $10 billion", Mr. Trump said, making the announcement at the White House. Over time, the Trump administration believes it could grow to employ as many as 13,000 workers while paving the way for additional Foxconn investments in other parts of the country.

Foxconn has the potential to create more manufacturing jobs than we have seen in many decades.

An invitation to the announcement describes the plant as a "state-of-the-art Gen 10.5 manufacturing facility for the production of LCD panel products". In return, the state of Wisconsin will provide Foxconn with $3 billion in economic incentives, Walker said.

Wisconsin state Senator Jennifer Shilling, a Democrat, questioned whether there is "legislative appetite for a US$1 to US$3 billion corporate welfare package".

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