$10B Foxconn plant promises 3000 jobs for Wisconsin

$10B Foxconn plant promises 3000 jobs for Wisconsin

But the decision to build the plant in Wisconsin also stemmed from $3 billion in state economic incentives over 15 years if Foxconn invests $10 billion in the state and ultimately adds 13,000 jobs.

But they say Foxconn could have a hard time filling all of those positions.

"It's bigger than anything we've done before", Walker said of the incentives.

Experts say it will likely require improvements to infrastructure, transportation systems and more job training programs to prepare for the new skilled labor jobs.

Reports that Wisconsin will pay $3B in subsidies in return for Foxconn opening a display plant there have been confirmed, with a breakdown of the incentives.

The same week that Apple (AAPL) has kept mum about reports that it will build three plants in the US, one of its largest suppliers, Foxconn (FXCOF), announced plans for a new multi-billion dollar factory in Wisconsin.

US President Donald Trump speaks alongside Terry Gou (R), Chairman of Foxconn, an electronics supplier, during an announcement that the company will open a manufacturing facility in Wisconsin, during an event in the East Room of the White House in Washington, DC, July 26, 2017. Neither the state nor Foxconn would say how much of the investment would fund automation.

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"Foxconn, and particularly Terry Gou, today could be anywhere in the world right now, they could be anywhere in the country".

The effort proved to be too much for other states like NY that had also been vying to land Foxconn, a major supplier to Apple and other electronic device companies that is based in Taiwan.

The company said it plans to invest $10 billion over four years to build a 20-million square foot plant that could eventually employ up to 13,000. In picking Wisconsin, Foxconn would appear to be giving a victory to both Trump and the state's Republican governor, Scott Walker, who is up for re-election next year.

Workforce Development Board President for Waukesha, Ozaukee and Washington counties Laura Catherman said she's excited about the kind of workforce Foxconn will attract to the area, including engineers to fill mid-to upper-level technology jobs.

"We can only describe this as a gift from Wisconsin taxpayers to Foxconn shareholders", LeRoy said.

"It's a very, very costly package, and I'm skeptical that the benefits justify such big incentives", Bartik said. Foxconn promised in 2013, for example, to invest $30 million and hire 500 workers for a new, high-tech factory in Pennsylvania that was never built. Apple has a complex supply chain that involves sourcing components from China, Taiwan, and Japan and shipping them to factories in China to be assembled into an iPhone and shipped out.

The Wisconsin Legislature must approve the deal in a special session expected in August.

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