Foxconn CEO confided $30B plant deal

Interstate 94 construction

President Donald Trump touted Foxconn's $10 billion deal to build its first US manufacturing plant in Wisconsin during a press conference on Wednesday, once again hinting the investment could end up being worth triple that amount.

"The historic $10 billion investment Foxconn is making in Wisconsin is a clear sign that businesses around the world are recognizing the many benefits of establishing operations in our state,"Walker said".

Hon Hai, the main assembler of the iPhone, last week unveiled plans to build a US$10 billion factory in Wisconsin, hiring as many as 13,000 people for a project Trump touted as a victory for his "America first" effort to brings jobs back to the US.

MADISON, Wis. (AP) - Foxconn Technology Group is not saying whether it plans to invest $30 billion in the United States, as President Donald Trump claimed he was told by the company leader "off the record". It did not address Trump's statement about the total investment amount or Trump's claims that Gou told it to him in confidence. "We will provide an update as soon as we have finalized those plans". He didn't elaborate on how the figure could grow so high or even clarify whether he was referring to just Wisconsin or nationwide -including investments in other plants not yet announced.


Wisconsin's top economic development official Mark Hogan said Wisconsin had to be competitive with other states also trying to land the plant. "Think of this. He may go US$30 billion investment, but he told me that off the record so I promised I wouldn't tell anyone", he said to laughs from the audience.

Critics have raised alarms about other provisions waiving environmental permits and regulations to speed construction of the plant.

Mark Pocan, a Democratic congressman who represents a swath of south-central Wisconsin that includes Madison, questioned during a news conference Wednesday how many jobs will actually be created and how much those workers will really be paid.

It's new plant will be in the USA state of Wisconsin.

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