Foxconn in Wisconsin: everything you need to know - Page 2

Apple supplier Foxconn, the world’s largest contract electronics manufacturer, revealed plans today to build a new facility for producing LCD panels in Wisconsin. The news was announced at an event this evening with Foxconn chief Terry Gou and US President Donald Trump, who has aggressively pressured both domestic and foreign corporations to invest in the US. (He has also often taken credit for such investments even when they predated his administration.) Trump was joined at the event by Wisconsin Governor Scott Walker.

Foxconn plans to spend $10 billion over the course of the next three years on the 20,000-square-foot plant, which will employ at least 3,000 employees to start. The Trump administration says Foxconn’s investment could eventually help employ as many as 13,000 people, with potential future facilities in places like Illinois, Indiana, and Michigan. The LCD panels produced at the plant are, to start, for TV maker Sharp. Foxconn’s parent company, Hon Hai, owns a controlling stake in Sharp, which it purchased last year for $3.5 billion. Given that the US is Sharp’s largest market, it makes sense that Foxconn would want to expand manufacturing in the market to cut down on shipping costs.

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