Foxconn to build plant in Wisconsin, invest $10B

WSJ      Apple     Supplier     Foxconn     Circling     Wisconsin     for     New     Display     Factory

In 2013, Foxconn said it would invest US$30 million and hire 500 workers for a new factory in Pennsylvania.

Taiwanese technology giant Hon Hai Precision Industry Co., better known as Foxconn Technology, has announced that it is to build a £7.67 billion display panel factory in the USA state of Wisconsin, its biggest ever investment in the region.

In another indication of good news for Wisconsinites, Gov. Scott Walker (R-Wis.) said on Twitter Wednesday that he had a big job-related announcement to make at the White House with President Donald Trump.

"I would see Terry, and I would say 'Terry, you have to give us one of these massive places you do great work with, '" Trump said, later telling Gou "the American worker will not let you down". The company hopes to break ground on one or more facilities - potentially on the same large campus - in 2018 and begin production about two years later, according to the Wisconsin source. The package includes a potential $1.5 billion in state income tax credits for creating jobs, up to $1.35 billion in credits for the investing capital, and a potential $150 million in sales tax exemptions on construction materials, according to the Journal Sentinel. "This right here shows actual results", said Speaker Ryan.

President Trump announced on Wednesday that the electronics manufacturer Foxconn will be building a new US plant in Wisconsin to produce LCD screens. The Trump administration said there is also the potential for future facilities in other states like Illinois, Indiana, and MI. In fact, he has even spoken specifically about getting Apple to manufacture its products in the United States.

The company has been accused in the past of poor working conditions, particularly at its plants in China.

In a recent interview, Trump claimed Apple CEO Tim Cook had called him on the phone and "promised me three big plants-big, big, big", adding, "I said you know, Tim, unless you start building your plants in this country, I won't consider my administration an economic success". "ORCRP001070-topic.html" class="local_link" >Apple Inc. has committed to build three "big" manufacturing plants in the US, although Apple did not announce that, nor did the company respond to a request for comment.

With the new plant in Wisconsin, Foxconn is expected to receive a sizable tax break.



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