Published: Sun, February 03, 2019
Money | By Ralph Mccoy

Foxconn pledges to still build Wisconsin factory after Trump talks

Foxconn pledges to still build Wisconsin factory after Trump talks

Louis Woo, the special assistant to Gou, told Reuters on Wednesday, "i$3 n Wisconsin we're not building a factory". Residents' opposition, labor shortage, and technology transfer difficulties are the three main reasons why manufacturing companies like Foxconn could not move back to the United States easily, industry insiders and analysts have said. The latest came yesterday, when a Japan-based outlet reported Foxconn was suspending and scaling back its Wisconsin plant following negotiations with Gov.

"After productive discussions between the White House and the company, and after a personal conversation between President Donald J. Trump and Chairman Terry Gou, Foxconn is moving forward with our planned construction of a Gen 6 fab facility, which will be at the heart of the Wisconn Valley Science and Technology Park", the company said in a statement Friday.

"We have undertaken the evaluation while simultaneously seeking to broaden our investment across Wisconsin far beyond our original plans to ensure the company, our workforce, the local community, and the state of Wisconsin will be positioned for long-term success", Foxconn said.

It remains to be seen how well Trump will perform in the 2020 election, but one thing's for sure: He won't be able to campaign on persuading Foxconn to bring thousands of new factory jobs to Wisconsin.

Foxconn, the world's largest electronics company, said Friday the campus will house both an advanced manufacturing facility and a center of "technology innovation for the region".

"This is distressing news for Wisconsin taxpayers", said State Representative Mark Spreitzer.

Hintz said the state hasn't paid out the incentives that are associated with employment and with capital investment, which could total to $4 billion of taxpayer money. The larger plant, which had been part of Foxconn's initial plans, would have used glass more than three-times as large as what the smaller facility will use.

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"There's no limit, frankly, to skepticism if the messaging isn't coherent", Evers told reporters.

He celebrated the statement on Twitter as "great news".

All along there have been concerns Foxconn may not fulfill its end of the bargain, after it promised in 2013 to build a $30 million factory in Pennsylvania that never materialized.

The company, which has invested about $200m in the schemes so far, may also change the function of the USA plant away from display manufacturing and towards a research and development hub, Nikkei Asian Review reported yesterday.

Foxconn's planned factory is slated to provide 13,000 jobs in the state. What was originally billed as a multi-billion dollar deal with thousands of new jobs is now slipping away.

Foxconn said that global market conditions had "necessitated the adjustment of plans for all projects, including Wisconsin".

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