Published: Fri, August 04, 2017
Global | By Maureen Mccoy

The US$30 billion question for Foxconn

The US$30 billion question for Foxconn

"Any further speculation on Foxconn is really dependent on other things that might be happening that would affect the marketplace for them", Walker said.

President Donald Trump said Tuesday that he was told "off the record" by Foxconn chairman Terry Gou that the company plans to spend $30 billion on a new USA plant - which would be three times the amount of money the company has previously pledged. It did not address Trump's statement about the total investment amount or Trump's claims that Gou told it to him in confidence. 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. "We will provide an update as soon as we have finalised those plans".

"It seems to me that the burden of proof should be on the state to show that the project is transformational enough to justify a very high cost per job-year", said Bartik, who also questioned whether numerous workers could end up commuting from IL.

Gou previously said that Foxconn was considering opening plants in seven states before Trump announced last week that a massive factory would be coming to Wisconsin.

Opposition protests against Lok Sabha speaker's suspension of six Congress MPs
They stormed into the Well and tore papers while shouting anti-government slogans, prompting Mahajan to suspend six of them. Earlier, the opposition MPs, mainily the Congress members, disrupted the Lok Sabha for close to an hour during zero hour.

Chelsea lose to Inter Milan in last preseason friendly
Batshuayi thought he had levelled in the closing minutes - only for his goal to be chalked off for a questionable offside flag. Manchester United target Ivan Perisic doubled the Italians lead with an angled drive from the left.

Euro slips from 2-1/2 year highs after data
While a Purchasing Managers' Index pointed to broad-based economic growth, price pressures showed further signs of easing in July. The dollar was set to fall 1.9 percent against the yen to mark its biggest one-month percentage decline in six months.

The plant is expected to create as many as 13,000 jobs. It would bring Foxconn closer to its biggest market and be the first LCD monitor factory located outside of Asia.

The company is considering a second site in Dane County to gain access to a hub of advanced technology knowledge in Madison, according to separate reports in the Milwaukee Journal Sentinel and the Wisconsin State Journal.

Republicans who control the Legislature are split on how quickly to pass the bill, with state Senate Majority Leader Scott Fitzgerald saying there are too many unanswered questions about the tax breaks that must be addressed before a vote.

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

Like this: