Foxconn, one of Apple's major suppliers, is planning to invest at least $10 billion in the United States, including a $7 billion display manufacturing plant. It hasn't been decided where the company wants to build the facility, but according to Bloomberg, Foxconn chairman Terry Gou said they have narrowed it down to seven states.
It appears Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and Texas are all candidates for the display factory, which could mean an estimated 30-50 thousand jobs for the state. The plant is only budgeted at $7 billion so that means $3 billion or more could be invested in other areas as well.
"Our investment in the US will focus on these states because they are the heart of the country's manufacturing sector."
Gou did not indicate whether the company was leaning toward one particular state or another. Although, the Wisconsin State Journal reported last week that Milwaukee is being considered as the location for the facility. President Trump addressed Milwaukee on June 13. In his remarks, he mentioned that his administration had been in negotiations with an undisclosed company and that Governor Scott Walker might be in for "a very happy surprise soon."
"We have a lot of companies moving into the United States. We're negotiating with a lot of companies. Just backstage we were negotiating with a major, major incredible manufacturer of phones and computers and televisions, and I think they're going to give the governor a very happy surprise."
Talks of the US manufacturing plant come in the midst of faltering buyout negotiations between Foxconn and Toshiba. The Apple supplier has been bidding to take over Toshiba, offering as much as $27 billion just to get the Japanese firm to take notice. However, Toshiba seems to be favoring a Japanese consortium for the deal.
"The Toshiba deal isn't over," Gou vowed. "It is similar to Sharp's story. I believe we still have a big chance." Foxconn is expected to come to a decision on where to build the display plant by July.