Foxconn has announced plans to build a massive facility in the United States, one that will include housing units, service businesses, stores and more. The facility will be constructed in Wisconsin, with the overall plan representing a massive $10 billion investment for the company. Wisconsin lawmakers are now tasked with presenting a subsidy package, one that may be about 50 times greater than the biggest it has ever offered.
Foxconn will build its plant on a 1.5 square-mile plot of land in Wisconsin, with its structures covering at least 1,000 acres. To put that in perspective, local publication Journal Sentinel points out that the plant will about thrice the size of the Pentagon, and it’ll directly bring 13,000 jobs with it.
Though some details are still hazy, it seems Foxconn initially plans to hire 3,000 individuals who will be paid an average salary of $53,900/year. The plant will be centered around displays, with the company’s Chairman Terry Gou saying, “America does not have a single LCD plant to produce a complicated system. We are going to change that.”
The plant will be tasked with producing displays used for in-car infotainment systems, as well as televisions and computers. In terms of job generation, the state is estimating that the construction of this facility could generate 10,000 or so jobs, while 11,000 or so could result from vendors and suppliers who work with the company.
Whether this is one of the three ‘Apple’ plants President Trump announced yesterday is unclear. The announcement is a major one for both the state and Foxconn, the later of which will benefit with up to $3 billion in subsidies paid by the state’s taxpayers. When construction on the plant will begin is unclear at the moment.
SOURCE: Journal Sentinel