Published On: Thu, Jul 27th, 2017

Foxconn Technologies to invest $10 Billion in USA

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The Chinese giant Foxconn Technology is all set to invest $10 Billion in setting up a factory in Wisconsin to manufacture display panels used in television and other products. Foxconn has been the force that helped China turn into the centre of electronic manufacturing. Foxconn has been known as the world largest contract manufacturer of electronics and has served Apple Inc. to manufacture iPhones and other Apple gadgets.

The investment is expected to provide employment to as many as 13,000 people eventually. Also it is a chance to rebuild the US electronics supple that had been largely shifted to China and other Asia counties due to its much lower production cost in last couple of decades.

Mr Terry Gou, Foxconn chairman has been looking to set up a plant in US for years ignorer to reduce the cost of shipping large screen TV’s from Asia. Though he held talking with the government on Investment in 2014, the policies didn’t match. Mr Trump who has been consistently holding meetings with the top CEO’s of the world promised the Mr Gou with better Investment policies which include $3 Billion from the state and also 15 Year incentive package of tax credits.

Azam Sait

Photo Courtesy : Google/ images are subject to copyright   

 

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Foxconn Technologies to invest $10 Billion in USA