Foxconn to invest $10 bn in LCD manufacturing plant in US

  • Foxconn to invest $10 bn in LCD manufacturing plant in US

Foxconn to invest $10 bn in LCD manufacturing plant in US

U.S. Rep. Gwen Moore told TODAY'S TMJ4 Wednesday that she will not be attending President Donald Trump's Foxconn announcement Wednesday.

The liquid-crystal display panels could have entertainment, health care, automotive and other uses. Apple spent $75 billion with Foxconn in 2016.

According to media reports, Trump is expected to announce that Foxconn, one of the largest electronics manufacturers in the world, will be adding a new plant in Wisconsin, adding as many as 10,000 employees.

It's unclear whether the announcement in Wisconsin means that other states that were vying for the plant did not receive a Foxconn contract.

Foxconn now employs 1.3 million workers worldwide, 700,000 in China alone.

House Speaker Paul Ryan. It has been eyeing building the plant in a part of Wisconsin represented by Ryan, who said he has met with company officials at the request of the Republican governor.

He tweeted out a link to the planned announcement on Wednesday morning. His staff was involved with the negotiations with Foxconn. "Yet America does not have a single LCD factory to produce a complete 8K system". White House officials said that the project would create 3,000 jobs and Foxconn will invest $US10 billion into the factory. The state's deal for the new plant includes incentives totaling as much as $3 billion, Walker said.

Wisconsin state Sen. Jennifer Shilling, a Democrat, questioned whether there is "legislative appetite for a $1 [billion] to $3 billion corporate welfare package". Foxconn is one of Apple's primary manufacturing partners, often assembling the iPhone, according to the AP. Bloomberg previously reported that the screens could be used to make Sharp-branded televisions.

Moore says that she is "relieved" that Wisconsin may see an influx of jobs from the Foxconn project that would likely be located near her Milwaukee congressional district.

"He called me, and he said they are going forward", Trump added, which is curious because Apple outsources nearly all of its manufacturing and subsequently declined to comment on Trump's claim. Candidate Trump ran on delivering jobs for American workers and this is what this first plant delivers. The same can be said for President Trump who notably worked with Carrier a year ago in an effort prevent the shuttering of plants across the country.