Trump says Foxconn CEO may invest $30B

Posted August 04, 2017

Some observers said Trump intentionally released the encouraging news about the US$30 billion investment simply to encourage the small-business leaders.

Governor Scott Walker has said the incentive package is a key part of efforts to get Foxconn to build a factory in southeastern Wisconsin that could eventually employ up to 13,000 people.

President Donald Trump casually mentioned Tuesday that Foxconn's chairman told him in confidence the electronics giant's investment could reach $30 billion, triple the size of last week's deal with Wisconsin that some already viewed as optimistically inflated. "Think of this. He may go 30-billion-dollar investment, but he told me that off the record so I promised I wouldn't tell anyone", he said to laughs from the audience.

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Foxconn issued a statement on August 2 that the Wisconsin plant "will be the first of a series of facilities we will be building in several states as part of the robust electronics ecosystem we will be creating in the U.S.". "We will provide an update as soon as we have finalized those plans".

Sources said that this agreement with Foxconn has given Wisconsin a leg up in competing for other investments from the company, such as the potential one in Dane County.

State lawmakers are moving quickly to approve a $3 billion tax incentive deal for Foxconn Technology Group, based in Taiwan. Other states that Foxconn said it was looking at were Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas.

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Mark Pocan, a Democratic congressman who represents a swath of south-central Wisconsin that includes Madison, questioned during a news conference Wednesday how many jobs will actually be created and how much those workers will really be paid. Gou said in June that Foxconn's United States investment may eventually exceed US$10 billion.

The bill would also allow the state to borrow $250 million for the Interstate 94 rebuilding project, which connects Milwaukee and Chicago and is near where the plant is expected to be.

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