Foxconn chairman will visit site of company’s first U.S. factory next month

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Foxconn
One of Foxconn's many existing factories.
Photo: CBS

Apple supplier Foxconn’s chairman Terry Gou will reportedly visit Wisconsin, site of its first U.S. manufacturing facility, in early October to sign subsidy agreements with the local government.

Wisconsin has recently approved a package of subsidies that will help Foxconn establish manufacturing plants in the state. Ahead of Gou’s visit, the Wisconsin Economic Development Corporation will meet on September 28 to discuss the arrangement.

Foxconn’s facility in Wisconsin will be a sprawling $10 billion, 1,000 acre campus, dedicated to creating LCD displays. While the facility is on track for 2020, a previous report suggested that parts of it could open as soon as next year. The site will eventually create around 13,000 local jobs.

Wisconsin’s state Assembly voted in August to approve a bill offering Foxconn a $3 billion incentive package for its new plant.

The state was one of several that Foxconn considered as the location for its first U.S. factory. Other possible states reportedly included Ohio, Pennsylvania, Michigan, Illinois, Indiana and Texas, all of which were chosen because — in Foxconn CEO Terry Gou’s words — “they are the heart of the country’s manufacturing sector.”

Foxconn’s decision to move to the U.S. is linked with President Donald Trump’s bid to bring manufacturing jobs back to the U.S. The manufacturing giant has also said that producing displays in the United States will save money on shipping from China.

Source: Digitimes