Foxconn to build $10B plant in Wisconsin

Foxconn, the Taiwanese electronics supplier for Apple and other tech companies, plans to invest $10 billion in a new factory in Wisconsin, the White House announced Wednesday. The facility will manufacture LCD panels and will create at least 3,000 jobs, according to a senior White House official. It could create as many as 13,000 jobs eventually, the official claimed.

"This is a culmination of many months of discussions between the White House Office of American Innovation and Foxconn and numerous meetings here at the White House," the senior official said on background to reporters on a conference call. The investment, the official said, represents "a milestone in bringing back advanced manufacturing, specifically in the electronics sector, to the United States."

According to the Wall Street Journal, Wisconsin Gov. Scott Walker said his state is providing Foxconn with a $3 billion, 15-year incentive package of tax credits.

The Wisconsin factory will be the first in a series of facilities Foxconn plans to build across the US, the White House said, adding that Foxconn Chairman Terry Gou believes the US can become a globally dominant player in advanced manufacturing.

Earlier this week, US President Donald Trump told the Wall Street Journal that Apple has promised to build three major manufacturing facilities in the US. Apple CEO Tim Cook promised him "three big plants, beautiful plants" in the US as part of the their talks over business-tax reform and investment, Trump said.