Saturday, 23 February, 2019

Foxconn Damage Control: Promises to Stick by Factory Plans in Wisconsin

Here’s how the Foxconn debacle could upend Trump’s political future Foxconn recommits to $10B Wisconsin plant after call from Trump
Priscilla Morrison | 03 February, 2019, 23:30

The "campus will serve both as an advanced manufacturing facility as well as a hub of high technology innovation for the region", Foxconn said in a statement.

Nikkei cited unnamed sources who said Foxconn was reluctant to make such large-scale investments in view of the uncertain state of the global economy, with sales of Apple's iPhone falling, the Chinese economy slowing and a disruptive trade war in the offing.

The news is embarrassing for the Trump administration, which had hailed Foxconn's investment in Mount Pleasant as an early success for its brand of economic nationalism, with Trump describing it as "the eighth wonder of the world".

It did not provide details on employment or products, although it said it meant to "broaden our investment across Wisconsin far beyond our original plans".

Wisconsin lawmakers put together a $3 billion incentives package to lure the company to the state.

On Friday, CNBC published an article with the headline, "Foxconn does damage control over Wisconsin factory" - yet when Trump linked to the article on Twitter, he claimed victory: "Great news on Foxconn in Wisconsin after my conversation with Terry Gou!".

Foxconn Technology said on Friday it will build a factory in Wisconsin after the company's chairman spoke to U.S. President Donald Trump, following a Reuters report earlier this week that the Taiwanese company was reconsidering its plans.

More news: BP to link 36000 workers' bonuses to emissions reductions

Wisconsin's economic development agency, largely controlled by Republicans, is protecting the Foxconn project from the newly-elected Democratic governor's intervention, according to Hintz.

President Donald Trump stands with Foxconn chairman Terry Gou, center, and CEO of SoftBank, Masayoshi Son, during a groundbreaking event.

FBN's Jeff Flock on Foxconn's deal with Wisconsin versus Amazon's HQ2 deal with New York City and Crystal City, Virginia.

"This is distressing news for Wisconsin taxpayers", said State Representative Mark Spreitzer.

October 4, 2017: Foxconn announces the plant will be built in Mount Pleasant in Racine County, about 25 miles (40 kilometers) south of Milwaukee.

Speaking to thousands of Foxconn employees at a Lunar New Year celebration in Taipei yesterday, Gou said investing in the United States "is undoubtedly a right decision and fits with future economic trends". But instead of the advanced Generation 10.5 screens originally promised in 2017, the plant would be the simpler, Generation 6 option that requires a lower-cost manufacturing facility.

"I'm comfortable that they're still committed to the state", Evers told reporters Friday, according to The Cap Times. Advocate Aurora Chief Business Development Officer Rick Klein told the Chicago Tribune the system is "focused on advancing our plans to expand access to care in communities throughout southeast Wisconsin".

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