“President Donald Trump has called for firms to build more products in the United States,” Jess Macy Yu and J.R. Wu report for Reuters. “He has made several announcements since his election in November about U.S. investments by both foreign and domestic manufacturers, building on his campaign focus on preserving and creating American jobs.”
“Foxconn, the world’s largest contract electronics maker and a major Apple Inc supplier, plans to invest more than $10 billion in a display-making factory in the United States and will decide on the location of the plant next month,” Yu and Wu report. “Foxconn operates vast factories in China, where it employs a million people and makes most of Apple’s iPhones, but so far it has not invested heavily in manufacturing in the United States. ‘This time we go to America, it’s not just to build a factory, but to move our entire supply chain there,'” [Founder and Chairman of Foxconn Terry] Gou told shareholders, without providing specific details.”
“‘In the U.S., the state governors’ sincerity and confidence to attract investment… is beyond my imagination,’ Gou said,” Yu and Wu report. “According to Tai Jeng-wu, CEO of Foxconn’s Japanese unit Sharp Corp, six U.S. states were being looked at for a possible location for the display-making plant.”
Read more in the full article here.
MacDailyNews Take: Gou said the first investment agreement should cover at least three states, with at least three more eyed for later investments; a total of six states. He mentioned seven individual states that are in the running: Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and Texas.
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