Foxconn is expanding its presence in the United States with a $10 billion investment in Wisconsin, which is initially projected to create about 3,000 jobs in the region.
The company, which makes flat-screen displays for Apple and other tech companies, said the plant will create 3,000 jobs and could eventually employ up to 13,000 workers. In return, the state of Wisconsin will provide Foxconn with $3 billion in economic incentives, Walker said. Walker also said the average salary would be about $53,000, plus benefits. Three cities-Milwaukee, Madison (capital of the state and home to the University of Wisconsin) and Kenosha-are situated in the area. Sign up for the free Good Morning Silicon Valley newsletter.
Apple has said little about its plans to boost manufacturing in the U.S. Foxconn's plant is projected to generate up to $181 million in local and state tax annually, and will span over a 20 million-square-feet campus. The entire campus is envisioned to cover almost 1.6 square miles.
Reports say Wisconsin has been pushing for that plant.
"One of the reasons this is such a meaningful day is it does represent a milestone in bringing back advanced manufacturing, specifically in the electronics sector, to the United States", the official said. "To make such an investment, Chairman Gou put his faith into the American economy".
During the campaign, Trump said he would "get Apple to to build their damn computers and things in this country instead of other countries". It is hard to speculate about Trump's input into the launch of the venture, though, as Foxconn's plant opening was rumoured before the election a year ago. Michigan, North Carolina and Pennsylvania are other states thought to be in the running to land the investment. Gou told reporters on Sunday that Taiwan-based Foxconn had been considering such a move for years, but the issue came up when Son, a Foxconn business partner and head of Sprint's parent company, talked with Gou before a December meeting that Son had with President Donald Trump.
Wisconsin Democrats meanwhile were more cautiously optimistic about the plan. "That's where we want our jobs. We want a win, win, win". "We are also committed to creating great jobs for the American people".
Trump will is holding the press conference at 5 p.m. EDT on Wednesday, and it can be seen via live stream in the video at the top of the page.
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