MADISON, Wis. (WBAY) - President Donald Trump announced on Wednesday that electronics giant Foxxconn is planning to make a $10 billion investment in Wisconsin.
Cropped Photo: Nadkachna / Wikipedia / CC BY 3.0
The announcement was made with Governor Scott Walker, House Speaker Paul Ryan, Foxconn CEO Terry Gou and others by his side.
Foxxconn is planning to build a liquid-crystal display factory in Wisconsin. The company is best known as the assembler for the iPhone.
"This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready. We are calling this development 'Wisconn Valley,' because we believe this will have a transformational effect on Wisconsin, just as Silicon Valley transformed the San Francisco Bay Area." Gov. Scott Walker
A Senior White House Official said the plant will bring 3,000 "good-wage" jobs to the state, with the potential to grow to as many as 13,000 jobs.
The Foxconn complex is expected to be located on at least 1,000 acres of land, or about 1.56 square miles.
Officials say it will become one of the largest manufacturing campuses in the world.
Reed Cordish of the White House Office of American Innovation says the manufacturing plant will make LCD panels for computer screens, TVs, and car dashboards.
"This decision will create thousands of good jobs, and I'm excited for all the Wisconsinites who will benefit. ... This is an exciting day for our community, and we look forward to working further with Foxconn as we begin a new era of manufacturing here in Wisconsin." House Speaker Paul Ryan.
When selecting where the company would put its manufacturing plant, Cordish said Foxxconn had to select a state where it could be successful and ultimately the company chose Wisconsin. The exact location has yet to be released.
Foxxconn told White House staff this is the first of a series of facilities they'll be building in the U.S. due, in part, to policy changes the Trump Administration has made to "Buy American" and the commitment to passing tax reform and infrastructure spending.
Cordish said the White House played a role in facilitating meetings between Foxxconn and Wisconsin leaders.
President Donald Trump says the Taiwan-based electronic company's plan to build a factory in Wisconsin wouldn't have happened if he weren't president.
A number of Wisconsin state lawmakers are weighing in he announcement.
"It’s unique, you have a Chinese company coming to Wisconsin to set up shop and employ our people but... this is indicative of what happens when you have a governor and president working together to make the sales pitch on why business should set up shop in America and employ our people," said Rep. Sean Duffy. "Because we have the hardest working, most innovative, and well educated people all around the world, so this is great news for the state and for our families."
State Senator Dave Hasen, (D-Green Bay) said Wisconsin should be cautious in any use of tax payer dollars to lure Foxxconn to the state citing concerns that new technologies could eliminate any promised jobs.
“Given recent accounts of how its workers are treated and Foxxconn’s strategy of getting every last nickel and dime it can from taxpayers to lower their costs, Governor Walker and any legislator thinking of supporting what could be a $3 billion incentive package should be very wary,” said Hansen. “To do otherwise would be a serious case of legislative malpractice.
Senator Tammy Baldwin also weighed in on the announcement saying in a statement:
“Wisconsin is home to a proud manufacturing tradition, a strong work ethic that is second to none, and great technical schools that work every day to provide people with the skills they need to succeed. This announcement presents a promising opportunity and we should do everything we can to create jobs and stronger economic growth. Governor Walker must get this right and make sure this deal works for taxpayers. Any and all taxpayer subsidies must be tied to Foxconn keeping the commitments they have made.”
Gov. Scott Walker says President Donald Trump plans to make a "major jobs announcement for Wisconsin" as anticipation builds it will be about electronics giant Foxconn locating in the state.
Walker tweeted about the Wednesday afternoon news conference at the White House.
Wisconsin state Assembly Speaker Robin Vos says he is in Washington for what he says is an expected announcement from Trump that Foxconn plans to build a manufacturing plant in Wisconsin.
Vos says he had no details about the possible Foxconn deal.
Taiwan-based Foxconn is best known as the assembler of the iPhone. Wisconsin is among seven states, mostly in the Midwest, that the company has named as possible locations to build the its first liquid-crystal display factory that could mean tens of thousands of jobs.
President Donald Trump plans to make a jobs announcement in Washington as anticipation builds in Wisconsin he will confirm that electronics giant Foxconn intends to open a massive factory in the state.
Trump's announcement is set for late Wednesday afternoon at the White House.
The deal could involve promises from Wisconsin to extend billions of dollars in incentives to the Taiwanese-based manufacturer. Foxconn is the biggest contract assembler of smartphones and other products for Apple and other brands.
State Sen. Alberta Darling is co-chair of the Legislature's budget committee. She said Tuesday that she had not seen the memorandum of understanding with the state, but it will come to the Legislature in the form of a bill and lawmakers will review it "with a fine-toothed comb."
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