Herzing is Ready to Meet Foxconn Job Needs

Trump takes credit for Foxconn $10b US plant

States, meanwhile, will likely have more opportunities to compete for the next generation of factories.

Wisconsin's deal with electronics giant Foxconn requires the state Legislature to pass a $3 billion incentive package no later than September 30. Indiana, North Carolina, Ohio, Texas, Pennsylvania and NY were also in the running. Foxconn said in a release the announcement was just the first of several investments the company will be making in the U.S.

The effort proved to be too much for other states like NY that had also been vying to land Foxconn, a major supplier to Apple and other electronic device companies that is based in Taiwan. Trump's plans for health care and tax cuts face a murky future in Congress, while his administration is bogged down by an investigation into Russia's possible ties with his presidential campaign.

Trump praised Foxconn chairman Terry Gou at a White House event, asserting: "If I didn't get elected, he definitely wouldn't be spending $10 billion".

When Foxconn executives met with Trump in the Oval Office, "the president said I know a good spot where you should go - that place in Kenosha", Priebus recounted.

Employment experts say the potential for 13,000 new jobs with the new Foxconn plant to be built in Wisconsin is an economic game-changer.

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The incentives would only be awarded if Foxconn creates the jobs and pays an average yearly wage of almost $54,000. The campus will cover up to 1,000 acres.

Foxconn Chairman Terry Gou, left, and Gov. Scott Walker hold the Wisconsin flag to celebrate their $10 billion investment to build a display panel plant in Wisconsin, at the Milwaukee Art Museum in Milwaukee, Wis., Thursday, July 27, 2017. Foxconn will locate its plant in the congressional district of U.S. House Speaker Paul Ryan although the official declined to provide a specific location. He also stated that the LCD manufacturing factory in Wisconsin would be set up by the year 2020.

The Taiwanese electronics manufacturer is a major supplier to Applec Inc. Neither the state nor Foxconn would say how much of the investment would fund automation.

Mark Muro, an economics scholar at the Brookings Institution, a Washington think tank, said he expects global firms will increasingly consider moves to the U.S.in order to slash shipping costs. That $3bn is made up of $1.5bn on tax credits for job creation, $1.35bn for capital investment, and up to $150m for the sales and use of tax exemption. "They chose Wisconsin", Walker said.

Inside the White House, discussions with Foxconn about opening a USA plant were led over several months by Jared Kushner, a senior adviser and the president's son-in-law, and Reed Cordish, an assistant to the president on technology initiatives.

The meetings included an April trip that Walker took to the White House to meet with Gou and Reince Priebus, President Donald Trump's chief of staff.


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