Foxconn breaks ground on $10 billion investment

Foxconn breaks ground on $10 billion investment

2018-08-27T14:28:20+00:00June 29, 2018|News Coverage|

MOUNT PLEASANT – Governor Scott Walker today joined President Donald Trump, Speaker of the U.S. House of Representatives Paul Ryan, and Foxconn Technology Group (Foxconn) in celebrating the groundbreaking of Phase 1 of Area 1 of the Wisconn Valley Science and Technology Park in Mount Pleasant. Foxconn is committed to a “Wisconsin First” strategy to build the campus, which places an emphasis on hiring Wisconsin workers and businesses.

“This is a historic moment for our entire state and our country,” Governor Walker said. “Wisconsin won Foxconn and the first LCD manufacturing facility in North America thanks to our outstanding workforce and strong manufacturing legacy. With Foxconn’s plans to create 13,000 direct good-paying, family-supporting jobs, and our record low unemployment rate of 2.8 percent, it makes it all the more important to attract more workers to Wisconsin.”

Foxconn represents the largest foreign direct investment in Wisconsin history and it is one of the largest greenfield investments by a foreign-based company in United States history, as measured by jobs. The Metropolitan Milwaukee Association of Commerce estimates that the project will add $51 billion to Wisconsin’s gross domestic product over the next 15 years. This translates to $18 returned for every $1 invested by the state. Foxconn is expected to spend about $1.4 billion annually in goods and services sourced from Wisconsin.

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