Electronics giant Foxconn will build plant in Wisconsin

Foxconn to produce display panels in Wisconsin - report

Foxconn Technology Group announced at the White House Wednesday its plans to invest $10 billion to build a massive display panel plant in Wisconsin that could employ up to 13,000 workers but would require up to $3 billion in subsidies from state taxpayers.

The announcement comes months after Foxconn Chairman Terry Gou said his company would invest at least $7 billion in the US and create between 30,000 and 50,000 jobs.

The investment, the official said, represents "a milestone in bringing back advanced manufacturing, specifically in the electronics sector, to the United States". The company said it planned to invest billions in US manufacturing just one month after Trump was elected. 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.

Walker said Wisconsin will provide Foxconn with $3 billion in incentives, half of which will go to capital costs and the other half to workforce development. "This right here shows actual results", said Speaker Ryan. In return, the state of Wisconsin will provide Foxconn with $3 billion in economic incentives, Walker said. Walker said Foxconn is considering several sites in southeast Wisconsin and will announce its plans soon. While it is not clear whether Tim Cook actually promised Trump last week to build three "big, big, big" Apple plants in the U.S., the president has apparently been involved in a previously rumoured venture with Foxconn that was officially announced yesterday.

Foxconn had considered building the plant in Ohio, Michigan and Pennsylvania, among other states.

It still isn't clear if Trump was referring to Foxconn or Apple specifically.

President Donald Trump has called for companies to build more products in the United States and open additional plants.

Trump told The Wall Street Journal on Tuesday that Apple CEO Tim Cook promised him that the company would create three new manufacturing plants in the US - a claim the company declined to confirm.

Hon Hai Precision Industry, one of Apple's top suppliers and more popularly known as Foxconn, revealed its plans to build a $10 billion plant in Wisconsin.

Foxconn is expanding its presence in the USA with a $10 billion investment in Wisconsin, which is initially projected to create about 3,000 jobs in the region.

Foxconn has faced criticism in China for working conditions and in 2012, faced the threat of a mass suicide by workers at a factory in Wuhan.

Foxconn makes displays for iPhones and other devices, but so far only has plants in Asia.

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