Foxconn recommits to $10B Wisconsin plant after call from Trump


"This campus will serve both as an advanced manufacturing facility as well as a hub of high technology innovation for the region", it said. As subsidies ballooned above $4 billion, Foxconn said it would build a less-expensive plant making smaller panels and fill many engineering jobs with Chinese nationals. The company had said previous year that it was planning to build such a facility in Wisconsin, but comments by a Foxconn official this week that it was not building a factory in the state cast the future of the project in doubt.

But after a conversation with Trump, Foxconn appears to have agreed to reconsider.

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

The reports that plans were being scaled back were a blow to the USA administration since Trump had publicly claimed credit for the investment, which was backed by US$4 billion in controversial local tax breaks. Wisconsin's current governor, Democrat Tony Evers, 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 the past year, however, Foxconn's plans for Wisconsin have gone through a variety of unexpected changes, which have raised doubts about whether the project will live up to Trump's and Gou's promises.

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President Donald Trump stands with Foxconn chairman Terry Gou, center, and CEO of SoftBank, Masayoshi Son, during a groundbreaking event.

But as journalist Aaron Rupar noted on Twitter, the information in the CNBC article is hardly great news for Wisconsin's blue-collar workers. The latest developments in the troubled deal cut by Wisconsin Republicans raises new questions about their actions in December 2018.

The credit rating agency Moody's Investors Service noted the state's obligation on the Foxconn project in a statement Thursday, which forecasts financial risks for Mount Pleasant, Racine County and Wisconsin.

It said the decision was made after productive discussions between the White House and Foxconn and after a conversation between Trump and Gou.

Foxconn - as Hon Hai Precision Industry Co (鴻海精密) is commonly referred to in the West - is the world's largest contract electronics manufacturer and assembles most of its products in China, leaving it vulnerable to Trump's tariffs. Advocate Aurora Chief Business Development Officer Rick Klein told the Chicago Tribune the system is "focused on advancing our plans to expand access to care in communities throughout southeast Wisconsin".

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