Taiwan-based electronics supplier Foxconn announced Thursday that it will invest $10 billion to build a liquid crystal display (LCD) plant in the U.S. state of Wisconsin, according to a statement the company sent to the Global Times on Thursday.
This will be "the largest-ever investment made by a foreign company in the U.S.," and it will create 3,000 jobs initially, said the statement. To start with, the LCD panels will be supplied to TV producer Sharp. Employment at the factory may eventually create 13,000 jobs, signaling the "landmark opening of a series of investments by Foxconn in U.S. manufacturing in the coming years."
The deal was jointly announced by Foxconn CEO Terry Gou and U.S. President Donald Trump at a White House event, accompanied by some U.S. officials such as Wisconsin Governor Scott Walker.
"It's a good day for the U.S. manufacturing industry, workers and those who believe in 'Made in the U.S.'," Trump was quoted in the statement as saying.
