Foxconn says Wisconsin factory will be running next year

By U.S. EconomyFOXBusiness

Foxconn plant may hurt people in Wisconsin

University of Maryland economist Peter Morici, conservative author Kristin Tate and Sirius XM “Steele & Ungar” host Rick Ungar discuss how the people of Wisconsin are going to be impacted by Foxconn’s new facility.

Apple supplier Foxconn announced on Monday that its $10 billion Wisconsin plant is expected to be producing liquid crystal display screens by the end of next year.

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Construction on the facility – known as a "Generation 6" factory – is scheduled to begin later this year.

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“Our commitment from day one has been to establish a winning formula for Foxconn and for Wisconsin,” Dr. Louis Woo, special assistant to Foxconn founder and CEO Terry Gou, said in a statement. “We continue to expand our presence around the state, create jobs, and deepen our partnerships while innovating and adapting to meet changing market needs.”

The company said it will announce contractors for different construction projects throughout the coming months. So far, it said 95 percent of contracts have been awarded to Wisconsin-based companies.

The factory was initially expected to be a "Generation 10" facility, which would have meant it was larger.

Earlier this year there was confusion as to whether the company was going to follow through on other promises regarding the billion-dollar factory.

Reuters reported in January that Foxconn was reconsidering plans to build liquid crystal display panels at the facility – causing confusion and raising doubts as to whether it would fulfill its promise to eventually employ 13,000 workers, primarily from the manufacturing sector.

The Taiwan-based technology company recommitted to plans in February, following a call between its chairman, Terry Gou, and President Trump.

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All along there have been concerns Foxconn may not fulfill its end of the bargain, after it promised in 2013 to build a $30 million factory in Pennsylvania that never materialized.

Wisconsin lawmakers put together a $3 billion incentives package to lure the company to the state. The facility was announced in 2017.