Foxconn's U.S. project to continue after talks with Trump: Terry Gou | Economics

Foxconn's U.S. project to continue after talks with Trump: Terry Gou | Economics

The company has confirmed its campus will include an "advanced manufacturing facility as well as a hub of high technology innovation". But this week, Foxconn executive Louis Woo seemed to move away from a factory altogether, saying the company couldn't compete in the TV screen market and would not be making LCD panels in Wisconsin.

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".

The company said it was looking forward to continuing its expansion of investment in American talent in Wisconsin and the U.S.

September 18, 2017: Republican Gov. Scott Walker signs an unprecedented $3 billion state incentives package for the plant, brushing aside critics who warn the package is too expensive. Evers, Wisconsin's current governor who used Walker's support for Foxconn against him in the race, was a critic of the project during the campaign but has said this week he's working closely with Foxconn on the project.

Following a call from President Trump, the Taiwanese company doubled down on its Wisconsin plans and said screens for small electronic devices will be built at the new factory.

In a joint statement, Wisconsin's Republican Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald defended the Foxconn incentive package they helped create.

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"After productive discussions between the White House and the company, and after a personal conversation between President Donald Trump and Chairman Terry Gou, Foxconn is moving forward with our planned construction of a Gen 6 fab facility, which will be at the heart of the Wisconn Valley Science and Technology Park", the company said in a statement Friday. Pleasant, Wis., June 28, 2018. That same day Foxconn announces it now plans to build much smaller Generation 6 screens and phase in production of Generation 10.5 screens later.

The company's announcement is an about-face from its stance earlier in the week, when the electronics manufacturer said it was reassessing its plans. 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.

Foxconn declined to comment on how Friday's decision was reached and when hiring is expected to begin.

"I'm comfortable that they're still committed to the state", Evers told reporters Friday, according to The Cap Times.

Mark Hogan, CEO of the Wisconsin Economic Development Corporation, the state's economic development agency, under both Walker and Evers, said on Thursday in a statement that the contract was not under negotiation.

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