An Asian company, and one of the largest manufacturers of Apple products, has made a deal to build their very first factory in the United States, President Trump announced Wednesday.
Foxconn Technology Group chairman Terry Gou joined President Trump at a news conference at the White House, and announced the company would be investing $10 billion to build a 20 million square foot factory that could eventually employ up to 13,000 workers.
The plant will include not only a factory, but a “virtual village,” with stories and housing, and will cover at least 1,000 acres. The factory is projected to be three times the size of the Pentagon, the Journal Sentinel reported. It will initially employ 3,000 workers when it first opens.
In addition to the eventual factory jobs, the construction phase alone promises to provide over 10,000 jobs each year during the four-years it will take to build it. The actual site for the new project has not been chosen yet, officials reported.
Also attending the news conference to announce the new plant was Wisconsin Governor Scott Walker and House Speaker Paul Ryan.
“Today we’re announcing the single largest economic development project in the history of Wisconsin and one of the largest in the history of this country,” said Walker, who called it the largest job creation project in the nation in an undeveloped greenfield. “This is literally number one.”
The deal was negotiated by a team led by President Trump’s son-in-law, Jared Kushner, reported The Hill. The Journal Sentinel also reported that Walker, Ryan and Trump have each met with Gou and other Foxconn executives over recent months.
Foxconn employs approximately 700,000 people in China, and the company’s total revenue for 2016 was about $135 billion.
Up to $3 billion in subsidies from state taxpayers will be required to push the deal through.
Below is President Trump’s press conference announcing the new Foxconn plant.
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