Here's How Much A Taiwanese Factory Will Cost Wisconsin Taxpayers

WSJ      Apple     Supplier     Foxconn     Circling     Wisconsin     for     New     Display     Factory

WSJ Apple Supplier Foxconn Circling Wisconsin for New Display Factory

The plant will be tasked with producing displays used for in-car infotainment systems, as well as televisions and computers. This shouldn't come as too big of a surprise as Foxconn parent company Hon Hai owns the majority of Sharp.

The high-profile announcement follows a pledge from Foxconn shortly after Trump was elected to invest at least $7 billion in the United States and create between 30,000 and 50,000 jobs. "This is a great day for America".

At 20 million square feet, the factory would be one of the largest in the nation, according to the Milwaukee Journal Sentinel. Up to 22,000 jobs could be created by factory indirectly as businesses look to serve the facility and its workers.

To woo the Foxconn factory to Wisconsin, the state had to offer massive subsidies to the tune of $3 billion. He also claimed the plant will be the largest economic development project in the state's history. Jennifer Shilling, D-La Crosse, said, referring to the company's 2013 announced plans to build in Pennsylvania that never materialized. The investment in the facility by Foxconn will cost $10 billion and will be constructed somewhere in Wisconsin. He's promised incentives and tax breaks for companies that move production to the United States. But the company said that it would be hiring 3,000 workers over four years.

This week, Trump told the Wall Street Journal that Apple CEO Tim Cook promised to build three plants in the USA in the coming years, but Cupertino has not made any announcements. "Our administration's work to remove job-killing regulations - he's been watching - to institute Buy American and Hire American, and all of those policies, and to pursue the steps necessary to revitalize American industry, including repealing and replacing Obamacare".

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President Donald Trump announced on Wednesday that Apple (AAPL) iPhone-maker Foxconn Technology Co.

Foxconn is expanding its presence in the United States with a $10 billion investment in Wisconsin, which is initially projected to create about 3,000 jobs in the region.

Overall only 8.0 percent of US workers are employed in manufacturing, down from 22 percent in 1970 due to the impact of technological change and the growth of global supply chains.

With the new plant in Wisconsin, Foxconn is expected to receive a sizable tax break.

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