Foxconn recommits to $10B Wisconsin plant after call from Trump
FBN's Jeff Flock on Foxconn's deal with Wisconsin versus Amazon's HQ2 deal with New York City and Crystal City, Virginia.
Apple supplier Foxconn confirmed on Friday that it will build a $10 billion Wisconsin plant, after concerns bubbled up this week that it was backing away from its initial commitment.
Following a call from President Trump, the Taiwanese company doubled down on its Wisconsin plans and said screens for small electronic devices will be built at the new factory.
In a statement, the company said the site will serve as “an advanced manufacturing facility” and “a hub of high technology innovation.”
Foxconn said its chairman, Terry Gou, and President Trump personally spoke, in addition to other discussions between the company and the White House.
Earlier this week, Reuters reported that Foxconn was reconsidering its plans to build liquid crystal display panels at the facility – causing confusion and raising doubts as to whether it would fulfill its promise to eventually employ 13,000 workers, primarily from the manufacturing sector.
It did not say on Friday what types of workers it will be looking to hire.
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All along there have been concerns Foxconn may not fulfill its end of the bargain, after it promised in 2013 to build a $30 million factory in Pennsylvania that never materialized.
Wisconsin lawmakers put together a $3 billion incentives package to lure the company to the state. The facility was announced in 2017.