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© Foxconn Electronics Production | October 20, 2020

Terry Gou addresses Foxconn's Wisconsin investment

“Foxconn will remain committed to the completion and continued expansion of our project and investment in Wisconsin as long as policymakers at the federal, state, and local levels remain committed to Foxconn,” Terry Gou says.

Foxconn founder Terry Gou has issued a statement regarding the EMS-giant’s investment in Wisconsin and, as Mr. Gou puts it, “ongoing commitment to the completion and continued expansion of the Wisconn Valley Science and Technology Park.” Mr. Gou says that back in 2017, President Trump suggested that the company should evaluate the potential of establishing Foxconn’s North America manufacturing headquarters in Wisconsin. Stating that before this conversation, the company had never considered Wisconsin as a location for any potential investment. “The President quickly convinced Foxconn that Wisconsin was the right place for our investment. He brought together State and local leaders to showcase Wisconsin’s exemplary manufacturing and high-tech capabilities, demonstrating that the state had great potential to become a critical part of Foxconn’s global supply chain,” the statement reads. Following this, Foxconn and the leaders of Wisconsin agreed to a partnership. This agreement was, as has previously been reported, built on a “pay-for performance” incentives. “Over the past three years, the relationship between Foxconn and Wisconsin has already produced tremendous benefits. Foxconn has invested approximately $750M in Wisconsin, even though it has not received any incentive payments. In fact, the scale of Foxconn’s investment is such that the company has become the largest property taxpayer in Racine County,” Mr. Gou continues in the statement. He continues to say that due to the current pandemic and the change in market conditions, the timing of the expansion have been altered – as well as the specifics of the manufacturing plans and product lines. The company has been on the receiving end of criticism from the Wisconsin economic development agency for missing targets related to job creation, which would make the company eligible for tax credits. “Foxconn re-asserts it will continue to work with President Trump and state and local government officials to create more jobs and to attract new investment to Wisconsin,” Mr. Gou writes in the statement and continues; “Foxconn will work as a partner with those who treat the company as a partner. Foxconn has greatly appreciated the support of the President and the vast majority of Wisconsin’s political leaders, including the legislature and local elected and economic development officials.” The founder of the EMS-giant concludes by saying that Foxconn will remain committed to the completion and continued expansion of the project and investment in Wisconsin as long as policymakers at the federal, state, and local levels remain committed to Foxconn.
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November 27 2020 3:37 pm V18.13.10-2