Foxconn to build $10 billion LCD plant in Wisconsin

  • Foxconn to build $10 billion LCD plant in Wisconsin

Foxconn to build $10 billion LCD plant in Wisconsin

Foxconn is expected to build a plant that produces display panels for large televisions at Ryan's home district in southeastern Wisconsin.

Walker called Foxconn's plans "the single largest economic development project in the history of the state of Wisconsin".

The incentives would be pro-rated, based on how much is spent and how many jobs are created by Foxconn.

Seven U.S. states have competed for new investments from Foxconn.

White House spokesman Josh Raffel confirmed the Trump announcement would be on Foxconn, but said he would not release details ahead of the event. Speaker Paul Ryan, R-Wisconsin, and other Congressional leaders attended the announcement, along with Republican Wisconsin Gov. Scott Walker and President Trump. "That's where we want our jobs". Trump has been quite engaged with the tech sector in particular, where bringing the production of iPhones to American soil seems like one of his top priorities in the business field.

As the New York Times points out, Foxconn has previously fallen short on its promise to invest in the United States. The Foxconn plant would make LCD displays used in computer screens, televisions, and vehicle dashboards.

Wisconsin offered at least $3 billion in subsidies to iPhone supplier Foxconn to entice the Taiwanese company to build a flat panel screen plant, the Milwaukee Journal Sentinel reports.

Tai Jeng-wu, CEO of Foxconn's Japanese unit Sharp Corp., said in June that six USA states were being evaluated for a possible location for a plant to make displays.

Foxconn now has facilities in Virginia and in, each of which employ fewer than 1,000 workers, according to its website.

The announcement is scheduled to begin at 5:00 p.m. EST. Trump also took credit in December for Son's commitment to invest $50 billion in the create 50,000 jobs, including 5,000 new positions at Sprint. He continued, "In other words if I didn't get elected he definitely would not be spending $10 billion dollars".

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.

At its peak, Foxconn employed more than one million people.