Exclusive: Foxconn reconsidering plans to make LCD panels at Wisconsin plant
Source: Reuters
JANUARY 30, 2019 / 1:22 AM / UPDATED 8 HOURS AGO
Jess Macy Yu, Karl Plume
5 MIN READ
(Reuters) - Foxconn Technology Group is reconsidering plans to make advanced liquid crystal display panels at a $10 billion Wisconsin campus, and said it intends to hire mostly engineers and researchers rather than the manufacturing workforce the project originally promised.
Announced at a White House ceremony in 2017, the 20-million square foot campus marked the largest greenfield investment by a foreign-based company in U.S. history and was praised by President Donald Trump as proof of his ability to revive American manufacturing.
Foxconn, which received controversial state and local incentives for the project, initially planned to manufacture advanced large screen displays for TVs and other consumer and professional products at the facility, which is under construction. It later said it would build smaller LCD screens instead.
Now, those plans may be scaled back or even shelved, Louis Woo, special assistant to Foxconn Chief Executive Terry Gou, told Reuters. He said the company was still evaluating options for Wisconsin, but cited the steep cost of making advanced TV screens in the United States, where labor expenses are comparatively high.
Read more: https://www.reuters.com/article/us-foxconn-wisconsin-exclusive-idUSKCN1PO0FV
= new reply since forum marked as read
Foxconn already had a reputation for making promises, getting incentives, and then pulling out with the "labor expenses are comparatively high" excuse!!!
