Apple supplier Foxconn on Wednesday announced their plans for a $10 billion LCD manufacturing plant, to be located in Wisconsin. However, the production from the plant won’t be headed for Apple devices. The large LCD displays made at the plant will be produced for Foxconn subsidiary Sharp.
Foxconn CEO Terry Gou made the announcement to reporters at the White House, flanked by President Donald Trump, Vice President Mike Pence, House Speaker Paul Ryan and Wisconsin Gov. Scott Walker. (Via CNN)
Walker and Ryan thanked Trump for his work on the deal.
“One thing we know about this president is how committed he is to reviving American manufacturing and bringing jobs home. This right here shows actual results,” said Ryan, a Republican who represents Wisconsin.
Trump called Gou “one of the great businessmen anywhere in the world.”
While Governor Walker told reporters the new 20,000-square-foot facility will create 13,000 jobs in the region, a statement by Foxconn says the plant, scheduled for completion by 2020, will create 3,000 new jobs with the potential to create as many as 13,000.
Foxconn had considered locating the plant in Ohio, Michigan and Pennsylvania, among other states. The company currently has facilities in Virginia and Indiana, each of which employ fewer than 1,000 workers, according to its website.
Wisconsin reportedly offered a $3 billion taxpayer-financed incentives package to lure the company to the area. The state’s deal requires legislative approval. Details of the incentive package are expected to be announced in the near future.