Foxconn's big jobs promises

Foxconn has agreed to invest $10 billion in a massive new plant in Wisconsin. Will it deliver?

Foxconn factory workers.
(Image credit: AFP/AFP/Getty Images)

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President Trump just claimed a big win in his quest "to revive America's flagging industrial sector," said Steven Overly at Politico​. The White House announced last week that it helped broker a deal with Taiwanese manufacturing giant Foxconn to invest $10 billion in a massive new plant in Wisconsin for manufacturing LCD screens. The plant — projected to be three times the size of the Pentagon — is initially expected to create 3,000 jobs by 2020, with an average pay of $54,000. As many as 13,000 jobs could be created over time, state officials said. In return, Wisconsin will provide Foxconn with $3 billion in tax breaks, subsidies, and other economic incentives. It's a "politically potent" deal for Trump, providing long-promised manufacturing jobs to a critical swing state that helped deliver him the White House. Chalk this up as "a huge win for an administration that has hectored foreign and U.S. manufacturers alike to build their wares here," said Adam Lashinsky at Fortune. Foxconn's billionaire CEO Terry Gou met personally with President Trump three times to work out the deal. If nothing else, the president "is proving to be a very fine Commerce secretary."

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