Chinese company to invest billions in Wisconsin (video)

A $10 billion dollar investment in Wisconsin was announced today, as Chinese technology company Foxconn said a state-of-the-art manufacturing facility, creating liquid crystal display (LCD) screens, will be placed in the state. On Wednesday, Foxconn chairman Terry Gou appeared with President Donald Trump, Vice President Mike Pence, U.S. Speaker of the House Paul Ryan (R-WI), and Wisconsin Governor Scott Walker, speaking from the White Hose.

Gou said it made sense to build the LCD plant in America, since television was invented here. The Foxconn screens will be used in automobiles, healthcare and other electronic devices.

According to Foxconn, the plant will create 3,000 jobs, and Walker said that might eventually grow to 13,000 jobs. He noted that 22,000 indirect and induced jobs, as well as 10,000 construction jobs, could come from the deal, helping the state bring in new talent.

“This is a great day for America, it’s a great day for Wisconsin, and it’s a great day for Foxconn,” Walker said.

Although Foxconn considered building the plant in other states, Wisconsin won the plant. Reportedly, an unnamed White House official said factors such as workforce and Wisconsin leadership’s relationship with the president lead to the decision to create the plant there.

Speaker Paul Ryan said the deal is an example of President Trump’s commitment to the job market.

“One thing we know about this president is how committed he is to reviving American manufacturing and bringing jobs home,” Ryan said during the announcement. “This right here shows actual results.”

Vice President Pence echoed Ryan’s statement, saying, “Job creators have responded to the president’s agenda.” He lists rolling back federal red tape, working to lower taxes, and rebuilding our infrastructure as agenda items that make deals like this possible.

President Trump said, “This is a great day for American workers and manufacturing, and for anyone who believes in the concept and the label ‘Made in the U.S.A.'”

Trump said Foxconn is a “world leader in manufacturing” and “one of the truly great companies in the world.”

Foxconn, also known as Hon Hai Precision, is a Taiwanese manufacturing company that makes electronics for Apple.

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