WASHINGTON, July 26, 2017 /PRNewswire/ -- Foxconn Technology Group (Foxconn), the world's largest electronics manufacturing services provider, announced today it will invest $10 billion over the next four years to build a state-of-the-art liquid crystal display (LCD) panel manufacturing facility in Wisconsin. The investment, which will be the largest new greenfield investment made by a foreign-based company in U.S. history, will create 3,000 jobs with the potential to grow to 13,000 new jobs in that state. It signifies the start of a series of investments by Foxconn in American manufacturing in the coming years. President Donald Trump and Foxconn CEO Terry Gou made the announcement today in a ceremony at the White House East Room.
"This is a great day for American workers and manufacturing – and for everyone who believes in Made in the USA," President Trump said. "Foxconn joins a growing list of industry leaders that understand that America's capabilities are limitless, that America's workers are unmatched, and that America's most prosperous days are just ahead."
President Trump and Mr. Gou were joined at the event by Vice President Mike Pence, Wisconsin Governor Scott Walker and Speaker Paul Ryan. The White House Office of American Innovation, led by Senior Advisor to the President Jared Kushner and Assistant to the President Reed Cordish, played a pivotal role in the project.
"This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready," said Governor Walker. "We are calling this development 'Wisconn Valley,' because we believe this will have a transformational effect on Wisconsin just as Silicon Valley transformed the San Francisco Bay Area. Foxconn plans to bring the future of high-tech manufacturing to America, and Wisconsin is going to lead the way. We are honored Foxconn chose Wisconsin, and I thank Terry Gou for all he has done to make this happen."
The new facility, at a site in Southeastern Wisconsin to be announced soon, will manufacture LCD panels which will be used in a wide range of technologies that impact consumers' daily lives, from the latest generation televisions to self-driving cars and aircraft systems and in the fields of education, entertainment, healthcare, advanced manufacturing systems, office automation, interactive retail, and safety, among many others.
"We are thrilled to build a state-of-the-art display fabrication plant in America's heartland. As the first in a series of facilities we will build in several U.S. states, this is part of a bigger plan to create a robust 8K+5G ecosystem in the United States," said Foxconn Founder and CEO Terry Gou. "We thank President Trump and Governor Walker for their work to bring Foxconn to Wisconsin and we also thank the Office of American Innovation for providing invaluable support and assistance in making this happen. Wisconsin offers a talented, hard-working workforce, and a long track record in advanced manufacturing, all of which presents an extraordinary opportunity."
The Wisconsin manufacturing facility is a demonstration of Foxconn's longstanding commitment to global innovation and economic growth, and will serve the Midwestern community for generations.
"We are committed to realizing 'Made in America' by harnessing the potential of our Industry 4.0 vision and Plus Internet strategy. This will enable us to drive the advancement of intelligent manufacturing systems, processes and technology, as well as develop innovative products and solutions that allow us to better serve our customers, a group that includes many of the most iconic American technology companies. It will also support consumers in enjoying the benefits that the 8K+5G ecosystem - the future in display technology - has to offer," said Mr. Gou.
Established in 1974, Foxconn Technology Group ("Foxconn"), under the leadership of Founder and CEO Terry Gou, offers the most competitive production manufacturing technology in the world. A recognized global industry leader, Foxconn created the 3C OEM service business model, eCMMS, incorporating vertical integration of mechanical, optical, and electronic components. Foxconn offers many of the world's leading companies a one-stop integrated manufacturing solution. Foxconn has in recent years expanded into technology services, providing customers the most comprehensive solutions for their technology and manufacturing needs. In addition to maximizing value creation for customers, Foxconn is also dedicated to enhancing the concept of environmental protection in the manufacturing process. In addition to being a trusted partner for its customers, Foxconn is working to be a best-practices model for global enterprises.
SOURCE Foxconn Technology Group