Speed Reads

business news

Apple supplier Foxconn to build $10 billion plant in Wisconsin

Foxconn, the giant Taiwanese electronics manufacturer and a major supplier to Apple for iPhones, will open a 20-million-square-foot plant in southeast Wisconsin, the company announced Wednesday.

Over four years, the company will invest $10 billion to build the plant, which could employ up to 13,000 people and will make LCD display panel screens. Wisconsin Gov. Scott Walker (R) said the state will award $3 billion in incentives for the project, with the package needing approval from state legislature. He also said it will be the largest economic development in Wisconsin history, Reuters reports.

During a ceremony at the White House with Foxconn Chairman Terry Gou, President Trump took credit for the plant, saying, "If I didn't get elected, he definitely wouldn't be spending $10 billion … this is a great day for America."