foxconn plans massive $10b plant in wisconsin to make lcd screens - led display panel

Electronics giant Foxconn will build a $10 billion factory in Wisconsin, initially expected to create 3,000 jobs, the largest economic development project in U. S. history. S.
President Donald Trump said.
The announcement came on Wednesday as the Trump administration pledged to create manufacturing jobs, but struggled to deliver as quickly as the president promised.
Trump said in a White House speech that Foxconn chief executive Terry Gou's fiscal commitment was a direct result of his victory. IPhone-
Foxconn, the manufacturer, is consideringS.
"If I don't get elected, he will definitely not spend $10 billion," Trump said . ".
"We will have very, very brilliant decades.
"But the decision to build a factory in Wisconsin also stems from a national economic incentive of $3 billion over 15 years, and if Foxconn invests $10 billion in the state, it will eventually increase 13,000 jobs.
Only when Foxconn creates jobs and pays an average salary of nearly $54,000 will the award be awarded.
The Wisconsin plant, which is scheduled to open by 2020, is huge.
The campus, known as "Wisconn Valley", will cover nearly one.
Six square miles, three times the size of the Pentagon.
Foxconn plant will produce liquid
Crystal display panel or LCD for TV and computer screen.
The factory will be located in the Congressional constituency of House Speaker Paul Ryan.
This will mark a significant increase in a state that currently has 472,000 manufacturing jobs and is still recovering from factory layoffs --
Including the closure of the GM factory in Ryan's hometown
This was hit after the 2008 financial crisis. Taiwan-
China-based Foxconn is known for assembling Apple's iphone in China.
In a statement, the company noted that having a Wisconsin plant would help it better serve major U. S.
As a technology company for its customers.
Foxconn bought Japan's Sharp Electronics for $3.
The White House held discussions with Foxconn about opening an American factory. S.
The factory was led by Jared Kushner, a senior adviser and president's son, for several monthsin-
Reed Cornish, assistant to legal and presidential technical initiatives.
The president personally met with Gou, who praised Trump's leadership at the event on Wednesday, saying: "Mr Gou
President, the eagle is flying.
"Foxconn's factories have competed in seven states.
Foxconn's award of the plant to Wisconsin appears to be a victory for Trump and the state's Republican governor, Scott Walker.
Election next year
Other states competing for the plant are Michigan, Illinois, Indiana, Ohio, Pennsylvania, and Texas.
Foxconn said in a press release that the announcement was only the first of several investments the company will make in the United States. S.
Walker and several other Wisconsin officials, including Ryan, attended the White House statement.
The race to land in multiple states is considered one time. in-a-
Create opportunities.
Foxconn is the biggest contract assembler for Apple and other brands of smartphones and other devices.
The company has been focusing on building the plant in the Wisconsin area represented by Ryan, who said he met with company officials at Walker's request.
Critics warned that Foxconn had previously promised to invest in the United States. S.
Did not insist on the end.
Foxconn, for example, committed $30 million in 2013 to hire 500 workers for a new, high-tech
A technology factory never built in Pennsylvania. State Sen.
Darling, Alberta, co-
The chairman of the budget committee of the Wisconsin legislature said that any agreement would be subject to a "fine" review
Need to win Republican approval-
Control by the legislature.
The vacant landWalker said he plans to hold a special legislative meeting to consider the incentives.
Including up to $1.
The income tax credit for job creation was $5 billion.
The income tax credit for capital investment is 35 billion, and the sales tax exemption for the purchase of construction materials is as high as $0. 15 billion.
Reince Priebus, White House chief of staff from the Ryan Congressional constituency in southeast Wisconsin, told WTMJ-
On Tuesday, television said Trump flew over the Kenosha County area during a visit to Wisconsin in April, noting the open space of the former Chrysler Motor plant.
Priebus said: "he said, 'the land should be used. '
"So when Foxconn entered the White House and entered the Oval Office, the president said, 'I know you should go to a good place in Kenosha.
"It's exciting that part of the state is an attractive place for a large factory because the area is close to Lake Michigan and there is plenty of water. To make flat-
The panel shows that the company needs a lot of water to keep the dust in the working space
Free of charge, among other things.
The news caused a stir in Wisconsin, even among Democrats who have long criticized Walker.
"This is an exciting opportunity," said Peter Barca, leader of the Minority party in the Democratic State Council . ".
Barca, like many Democrats, is concerned about how much taxpayers may need to contribute in tax breaks and other incentives.
"We want to make sure it's a fair deal for everyone," he said . ". "We want a win-win-win.