China's Foxconn will open U.S. plant

Posted August 04, 2017

Trump announced to a group of small-business officials at the White House on Tuesday that Terry Gou, the CEO of Foxconn CEO, had told him privately that the Taiwanese electronics manufacturer was going to invest $30 billion in the U.S.

"Any further speculation on Foxconn is really dependent on other things that might be happening that would affect the marketplace for them", Walker said.

The deal, which Wisconsin leaders and President Donald Trump have heralded as transformational for the state and national economy, requires the state to approve $3 billion in tax breaks tied to Foxconn hiring and spending as promised. "Think of this. He may go 30 billion dollar investment, but he told me that off the record so I promised I wouldn't tell anyone".

"Our investment in Wisconsin will be the first of a series of facilities we will be building in several states as part of a robust electronics ecosystem we will be creating in the United States", Foxconn said in an emailed statement. "We will provide an update as soon as we have finalized those plans".

Foxconn claims it's considering investment plans for other sites around the U.S.

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USA Today has since reported that Foxconn is considering a second Wisconsin facility.

Gou previously said that Foxconn was considering opening plants in seven states before Trump announced last week that a massive factory would be coming to Wisconsin.

Foxconn hopes to open the plant by 2020 with 3,000 workers that could grow to 13,000 over six years. Some other opined that he was trying to test the response of Foxconn to the claimed US$30 billion investment or leverage the matter to directly triple his administration's achievement in soliciting overseas foreign investments in the manufacturing industries in the US.

The bill would also allow the state to borrow $250 million for the Interstate 94 rebuilding project, which connects Milwaukee and Chicago and is near where the plant is expected to be.