President Donald Trump said today Foxconn will add more manufacturing jobs than “we’ve seen in many, many decades” starting with a $10 billion campus in Wisconsin, a state that’s “very close to my heart.”
Trump at a White House announcement this afternoon also thanked the “tremendous” Gov. Scott Walker for his work in helping Wisconsin beat other states that competed for the facility, which would make LCD panels for TVs, phones and other products.
Trump said the news is a sign that Foxconn Chairman Terry Gou has “put his faith and confidence in the future of the American economy.”
“If I didn’t get elected, he definitely would not be spending $10 billion,” Trump declared at the announcement, joined by Walker and other top Wisconsin leaders.
Walker, meanwhile, said Wisconsin will be “the new global home to cutting-edge technology” when the facility is up and running in southeastern Wisconsin.
Walker said the Foxconn campus, to be located in an area to be dubbed “Wisconn Valley,” will spread out over 20 million square feet — the size of 11 Lambeau Fields.
“This is a great day for America,” Walker said. “It is a great day for Wisconsin, and it’s a great day for Foxconn.”
Walker said his administration tomorrow will enter into a memorandum of understanding with Foxconn for the deal, which would make Foxconn eligible for up to $3 billion in tax credits tied to job creation and capital investment.
The company expects to hire 3,000 workers initially and eventually up to 13,000 workers.
According to a fact sheet the Walker administration shared with lawmakers, the credits would include: up to $1.5 billion in state income tax credits tied to job creation, up to $1.35 billion in state income tax credits for capital investment and a sales and use tax exemption of up to $150 million. Walker’s office says a special session of the Legislature would be needed to approve the incentive package.
Still, the fact sheet didn’t mention a specific location, saying that Foxconn is “evaluating multiple sites in southeast Wisconsin.”
Walker billed the announcement as the largest economic development project in state history, saying it’ll help Wisconsin “attract top talent from across the country and around the world” and keep college grads in the state.
Also on stage was Foxconn Chairman Terry Gou, Vice President Mike Pence, U.S. Sen. Ron Johnson, R-Oshkosh, and House Speaker Paul Ryan, R-Janesville.
Ryan called the announcement an “absolute game changer” for the state, crediting Walker for quarterbacking the effort and his past work on helping Wisconsin manufacturers.
“This is the topper of all toppers,” said Ryan, whose 1st congressional district would include the facility.