Ad
Ad
Ad
Ad
Ad
Ad
Ad
© foxconn General | May 03, 2019

Is Foxconn increasing or decreasing Wisconsin investment?

The White House on Wednesday stood by its assertion that Foxconn will soon announce more investments in Wisconsin, after President Donald Trump met with company Chairman Terry Gou, according to a CNBC story published this week.

The meeting followed last week’s revelation that Foxconn has been renegotiating its deal with Wisconsin to build a USD 10 billion plant there, according to a letter from Wisconsin Gov. Tony Evers to Foxconn executive Louis Woo. The letter said Foxconn had proposed changes to the deal at a meeting in March, CNBC reported. In a statement last week, Foxconn did not deny seeking changes, but said it “has never wavered from our commitment to our contract with the State of Wisconsin and the creation of 13,000 jobs as part of our broader effort to make the Badger state a global technology hub.” Around the same time, Evers said Foxconn initiated changes to the state contract because the company’s pledge to create 13,000 jobs was unrealistic, Wisconsin Public Radio has reported. According to the CNBC story, Foxconn confirmed Gou’s meeting with Trump and said they “discussed the latest updates and the positive progress of the Wisconn Valley Science and Technology Park, including the many forthcoming announcements of additional bid awards for the next phases of construction at our Gen6 manufacturing campus. Foxconn looks forward to continuing to make these ongoing investments in our Wisconsin project as we expand our footprint in the state.” The announcement that Foxconn, a company that Apple and other tech companies hire to assemble products such as smartphones, now plans to further invest in Wisconsin may come as a surprise to residents there, who have reportedly seen little progress made on the promised development. The plant, expected to create thousands of jobs at Foxconn’s first facility outside of Asia, was seen as an early win for Trump. But early blueprints soon unraveled, with an assistant to Foxconn’s CEO telling Reuters in January that it was still evaluating the types of jobs it would create at the site, which was originally thought to be a factory. The assistant said Foxconn wanted to create a “technology hub.” When Foxconn released a statement affirming its plans were still in place, it did not clarify the types of jobs it would create. The company’s hiring plans have also reportedly dwindled from a pace of about 5,200 by the end of 2020 to around 1,000, a source previously told Reuters, which seems to affirm Evers’ recent comments.
Ad
Ad
Load more news
June 17 2019 9:26 pm V13.3.21-2