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Foxconn plans $10 billion Wisconsin plant; MI still in talks

Wall Street Journal Taiwanese electronics giant Foxconn will choose Wisconsin for new U.S. factory

Scott Walker and Foxconn Chairman Terry Gou unveiled the company's plans to invest $10 billion and create 3,000 jobs in Wisconsin in an event at the White House.

The announcement comes months after Foxconn Chairman Terry Gou said his company would invest at least $7 billion in the US and create between 30,000 and 50,000 jobs.

"We are thrilled to build a state-of-the-art display fabrication plant in America's heartland, which will be the first of a series of facilities we are building in several USA states as part of a robust 8K+5G ecosystem in the United States", Gou said at the press conference, calling the announcement of the investment deal: "The eagle flies".

"If I didn't get elected, he would not be spending $10 billion", Trump said, thanking Gou for his "faith and confidence in the future of the American economy". But the planned facility that would manufacture LCD screens would be operational by 2020 and cover 20 million square feet, large enough to hold 11 football fields. After discussing with six other states, Foxconn decided on Wisconsin and will bring 3,000 new jobs initially.

"This shows actual results - getting it done", Ryan said.

The Lehigh Valley could still be in play for a Foxconn facility, one of the world's largest electronics manufacturers.

Foxconn, which makes screens for Apple products, plans to invest $10 billion in the factory, which has the potential to create 13,000 jobs in House Speaker Paul Ryan's district. Economic development officials from Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas, and Wisconsin have all vied for Foxconn's attention.

Tom Still, president of the Wisconsin Technology Council, estimates state officials could be working on an incentive package that is between $2 billion and $3 billion over a period of decades, based on comparable offers by other states to lure other companies.

In a Tuesday interview with The Wall Street Journal, Trump said that Apple CEO Tim Cook has promised to build several factories in the U.S.

Tai Jeng-wu, CEO of Foxconn's Japanese unit Sharp Corp., said in June that six US states were being evaluated for a possible location for a plant to make displays.

Foxconn makes displays for iPhones and other devices, but so far only has plants in Asia.