President Trump announced Wednesday that Foxconn, a Taiwanese manufacturing giant that makes iPhone components, will build a major factory in Wisconsin and create thousands of new jobs.
The $10 billion deal will open an LDC electronics factory, a rarity in the U.S., and mark the advent of domestic production of iPhones. Mr. Trump touted it as evidence that he is spurring an economic boom.
“To make such an incredible investment, [Foxconn Chairman Terry Gou] put his faith and confidence in the future of the American economy. In other words, if I didn’t get elected, he definitely would not be spending $10 billion,” Mr. Trump said, making the announcement at the White House.
“You see exactly what I’m saying,” said Mr. Trump. ” Our administration’s work to remove job-killing regulations — he’s been watching — to institute Buy American and Hire American, and all of those policies, and to pursue the steps necessary to revitalize American industry, including repealing and replacing Obamacare.”
The plant in southeast Wisconsin will cost $10 billion and initially add 3,000 jobs to the economy, although the project has the potential for as many as 13,000 jobs in the near future.
The president was joined at the event by Mr. Gou, Vice President Mike Pence, Wisconsin Gov. Scott Walker and House Speaker Paul D. Ryan, Wisconsin Republican, as well as a crowd of business leaders and administration officials.
Mr. Pence said the arrival of Foxconn in Wisconsin was the latest in a series of economic triumphs for the administration, including more than 800,000 new jobs since Mr. Trump took office.
“Company after company are announcing record investments — billions of dollars and thousands of jobs,” he said. “Companies across this country and across the wider world are going to continue to invest in American jobs and American workers and America’s future, because under President Donald Trump, America is back!”
Anticipation of an announcement that Foxconn was building a factory has been mounting for days in Wisconsin, which likely sweetened the deal with tax breaks.
The company had been flirting with multiple states as it searched for a location for its first manufacturing plant in the U.S.
“The construction of this facility represents the return of LCD electronics and electronics manufacturing to the United States, the country that we love. That’s where we want our jobs,” said Mr. Trump.
“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,” he said. “We are going to have some very, very magnificent decades.”
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