Industry News: Foxconn Wisconsin Plant Announcement
Foxconn, a Taiwan-based company that supplies screens to global leader Apple for iPhones, announced it will build a new manufacturing plant in Wisconsin — its first large plant in the country. In the Wednesday evening press conference with President Donald Trump, Wisconsin Governor Scott Walker, as well as House Speaker and Wisconsin Republican Paul Ryan, Foxconn Chairman Terry Gou spoke about a $10 billion plant that could create 3,000 jobs. It’s clear this could be a boon to manufacturing in the United States.
In fact, according to a White House press release, Trump said, “Foxconn joins a growing list of industry leaders who understand that America’s capabilities are limitless and that America’s workers are unmatched, and that America’s most prosperous days are just ahead.”
A new birthplace for flat panel screens
Although Wisconsin isn’t known for its manufacturing plants as much as its farmland, with the promise of this new plant for flat-panel screens for electronics, it would bring this type of manufacturing back to the country as well as many manufacturing jobs to the state. Prior to the announcement, Wisconsin won over the other six states competing for Foxconn’s attention. And Trump already suggested a location for the plant: Kenosha, at a past Chrysler plant location.
While Foxconn leaders will choose a location in the near future, Wisconsin legislators are already sweetening the deal: As the plant will be located in his district, Walker is working with the state legislature on a $3 billion incentive package for the manufacturer in addition to tax exemptions, according to the Reuters article. If Foxconn leaders meet job hiring goals, the state will award said incentives over a 20-year period.
For the manufacturing professionals Foxconn will be hiring over the next four years, prospects look good. Walker said the average salary for Wisconsin Foxconn employees will be $53,000 and include benefits. Plus, the company could hire beyond the 3,000 employees originally mentioned depending on its growth in the country.
Made in U.S.A.
Media outlets have widely reported Trump’s push for more manufacturing jobs in the U.S., including his emphasis on reshoring efforts. And while Apple CEO Tim Cook said the company will be building three large plants in the country, there was no comment from Apple and the connection between Foxconn’s Wisconsin plant and the tech giant is still unclear.
The move could encourage other global manufacturers to move production stateside, resulting in more U.S.-produced products, more manufacturing career opportunities for more people, and a stronger economy as a result. Plus, with Foxconn leaders speaking to additional investments in the country in the future, it makes good on President Trump’s promise to bring jobs back to the U.S.