techkenyot.com
techkenyot.com February 18, 2019


Foxconn will build Wisconsin factory after talk with Trump

03 February 2019, 11:25 | Hattie Nash

Foxconn site in Mount Pleasant

Foxconn site in Mount Pleasant

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

"We look forward to continuing to expand our investment in American talent in Wisconsin and the U.S.".

Evers said he and Foxconn executive Louis Woo spoke Friday morning and Woo reiterated the company's commitment to a Gen 6 plant.

President Donald Trump announces Foxconn Technology Group will build a plant in southeastern Wisconsin.

Complete statement from Foxconn Technology Group
Complete statement from Foxconn Technology Group

The group, which is a major supplier to Apple Inc., told Reuters earlier this week that it was reconsidering plans for $10 billion factory in Wisconsin, citing economic concerns.

Wisconsin lawmakers put together a $3 billion incentives package to lure the company to the state.

But Foxconn said on Friday it would move forward with its planned construction of a plant.

"We welcome today's announcement that Foxconn has determined the LCD/TFT technology it will build at its advanced manufacturing campus in the Village of Mount Pleasant".

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Since Foxconn broke ground in June 2018, the Taiwan-based manufacturer known as the iPhone maker, has constantly revised its vision for its Wisconsin facility. The company has confirmed its campus will include an "advanced manufacturing facility as well as a hub of high technology innovation".

On Friday Evers said he believed Foxconn was committed to Wisconsin but said the company needed to do a better job of communicating its intentions.

"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", Foxconn said in a statement sent to Fortune.

But Foxconn's repeated changes to its plans led critics of the project this week to accuse Foxconn of a "bait and switch".

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According to a Reuters report earlier this week, Gou's special assistant Louis Woo (胡國輝) said the plan was revised in light of the steep cost of making advanced TV screens in the us, where labor expenses are comparatively high.

The Nikkei story also said Foxconn isn't planning to fully abandon the Wisconsin project, only "slow the investment pace and scale back a bit at the moment because of weakening macroeconomic conditions and the uncertainties brought by the trade war".

As part of the Foxconn deal, Wisconsin legislators agreed to pay up to 40 percent of local government debt for the project, if asked to do so.

Other costs to taxpayers are harder to quantify, said Steven Deller, an economist at University of Wisconsin-Madison.

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Reports claimed that Evers was attempting to renegotiate deals already inked with the company but his spokeswoman took to Twitter to say the reporters were false.



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