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The Trump Era

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Foxconn Builds $10 billion LCD Factory in Wisconsin

July 28th 2017

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President Trump has announced that Hon Hai Precision Industry Co. Ltd. will build an LCD factory at a cost of $10 billion and that could employ 13,000 people in the state of Wisconsin.

President Trump made the announcement alongside Terry Gou, chairman of Hon Hai, at an event in the White House on Wednesday, July 26.  Hon Hai, which trades as Foxconn, is the world's leading contract manufacturer of consumer electronics equipment, such as smartphones and tablet computers.

"Foxconn will invest in southeast Wisconsin while a larger facility is constructed over the coming years. And that facility is currently under negotiation. It will be about the biggest there is anywhere. The company's initial investment of more than $10 billion will create 3,000 jobs – at a minimum – with the potential for up to 13,000 jobs in the very near future," President Trump said.

The initiative was described by Scott Walker, Governer of Wisconsin, as the largest greenfield inward investment in terms of jobs in the history of the United States.

The move by Foxconn represented the return of LCD manufacturing to the United States, President Trump and he added that Gou had put faith and confidence in the US economy but also said: "If I didn't get elected, he definitely would not be spending $10 billion."

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