A technology giant selects Wisconsin
Terry Gou founded Foxconn in 1974 with $7,500, a devotion to integrating expertise for mechanical and electrical parts, and a vision to provide the lowest “total cost” solution to increase the affordability of electronics products for all mankind.
Today, Foxconn Technology Group is the world’s fourth-largest technology company and largest electronics manufacturing services provider. The company specializes in the design, manufacture and assembly of global computer and high-tech consumer electronics products, and is well known as the assembler of the iPhone. Headquartered in Taiwan, the company is a leader in the development of a vibrant global 8K-5G ecosystem, supported by the company’s vertically integrated portfolio and supply chain, designed to deliver intelligent display technology and solutions for use in all aspects of smart lives.
A major employer and job creator
Foxconn has facilities in Mexico and Brazil, as well as Europe and Asia. In 2017, it announced its first significant investment in the U.S., with plans to invest $10 billion in constructing a 20-million-square-foot manufacturing campus in Racine County. The project is the largest corporate attraction project in U.S. history, as well as the largest greenfield investment by a foreign-based company in U.S. history, as measured by jobs. It will employ 13,000 workers, will support 10,000 construction jobs each year for four years, and it is expected to create another 22,000 indirect and induced jobs in Wisconsin. In return, the state will provide up to $1.5 billion in job creation tax credits and $1.35 billion in capital investment credits.
“We look forward to being a part of the community and contributing to its economic transformation,” Gou said at the time the agreement was signed. “We will do so while ensuring that the very things that attracted us to Wisconsin – its talented and hardworking workforce, long track record in advanced manufacturing, favorable quality of life and environment – are protected and nurtured.”