Wisconsin governor defends $3 bln deal for Foxconn plant

Wisconsin governor defends $3 bln deal for Foxconn plant

Wisconsin governor defends $3 bln deal for Foxconn plant

Trump's plans for health care and tax cuts face an uncertain future in Congress, and his administration is bogged down by an investigation into Russia's possible ties with his presidential campaign.

The firm will invest $10 billion in Wisconsin to build a new manufacturing plant that produces LCD panels. "I would see Terry and I'd say, Terry you'd have to give us a couple of these massive, these are massive places you do such great work with". It would mark a substantial gain for a state that now has 472,000 manufacturing jobs and is still recovering from factory layoffs - including the closure of a General Motors plant in Ryan's hometown - that hit after the 2008 financial crisis.

Foxconn is the world's largest electronics contract manufacturer, so this development has the potential to shake up that arena. Walker and Foxconn Founder and CEO Terry Gou, Foxconn plans to invest $10 billion by 2020 to build a manufacturing campus in southeast Wisconsin. Its Chinese plants making Apple products, especially, have drawn attention for worker suicides, accidents and labor disturbances.

Gov. Scott Walker called a Special Session of the Wisconsin State Legislature on Friday, July 28th to consider legislation that would bring Foxconn to Wisconsin.

Officials with a number of environmental advocacy groups did not return phone calls seeking comment.

The state would be paying for 30% of Foxconn's total investment in the plant, and this wouldn't be the end of it. "Foxconn will invest in Southeast Wisconsin, while a larger facility is constructed over the coming years, and that facility is now under negotiation.it will be about the biggest there is anywhere", Trump said. Plus, around 22,000 indirect and induced jobs will be created because of Foxconn's economic impact.

Wisconsin's tax incentives would be awarded over 20 years if Foxconn meets hiring targets, officials said on Wednesday.

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Foxconn's presence, if it reaches its goal of 13,000 employees, would directly generate $7.63 billion in economic output, including a $3.36 billion boost to state GDP, according to the report.

"Talk about the 'art of the deal, '" Ross said in a statement.

Chinese electronics giant Foxconn-best known among tech geeks as the iPhone manufacturer-is looking to move some of its manufacturing stateside.

It should be noted, too, that Foxconn had said in 2013 that it would build a factory in Pennsylania, but in January of this year stated that the announcement was "not a promise, it [was] a wish".

Foxconn expects to use large quantities of water from Lake Michigan.

Wisconsin's unemployment rate was 3.1 percent in June, matching the lowest since 1999, and Kenosha and Racine counties, which are contenders to host the new plant, have similar levels - revealing an even tighter market than the national figures show.

"This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready". There are also some sales tax exemption incentives.

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