Pres. Trump Says Foxconn Could Triple US Investment Budget

Op-Ed Foxconn's $10 billion plant getting a pass on environmental laws

Op-Ed Foxconn's $10 billion plant getting a pass on environmental laws

President Donald Trump touted Foxconn's $10 billion deal to build its first USA manufacturing plant in Wisconsin during a press conference on Wednesday, once again hinting the investment could end up being worth triple that amount.

"Made in America makes sense for Foxconn and our customers and our business partners", Gou said in the statement. Trump announced last week that Foxconn will invest roughly $10 billion in Wisconsin to build a manufacturing facility that is expected to create up to 13,000 jobs in the state.

The deal, which Wisconsin leaders and President Donald Trump have heralded as transformational for the state and national economy, requires the state to approve $3 billion in tax breaks tied to Foxconn hiring and spending as promised.

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"He told me off the record he thinks he may go US$30 billion. We will provide an update as soon as we have finalised those plans".

Foxconn CEO Terry Gou submitted a statement that was read by committee chairman Rep. Adam Neylon.

Sources said that this agreement with Foxconn has given Wisconsin a leg up in competing for other investments from the company, such as the potential one in Dane County.

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Foxconn is the world's largest contract maker of electronics and has factories throughout mainland China.

Taiwanese technology company Foxconn wants to spend $10 billion to build LCD panels on a 20-million-square-foot, 1,000-acre campus of more than a dozen buildings in southeastern Wisconsin by 2020. A public hearing on the proposal was scheduled for Thursday, just six days after a draft of the plan was released and eight days after news of the state's deal with Foxconn broke.

But doing so requires approval from a Republican-controlled Legislature that still hasn't passed a 2017-19 state budget.

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Critics have raised alarms about other provisions waiving environmental permits and regulations to speed construction of the plant. He added that he's anxious Foxconn might abandon its plans if President Donald Trump failed to follow through on his proposal to raise import tariffs.

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