Trump Announces iPhone-Maker Foxconn Building a $10 Billion Facility in Wisconsin
President Donald Trump announced on Wednesday that Apple (AAPL) - Get Report iPhone-maker Foxconn Technology Co. (FXCOF) will build a new $10 billion factory in southeastern Wisconsin.
The new 20 million square-foot facility, which will make flat-screen displays, will be located in the congressional district of House Speaker Paul Ryan, a White House official told the AP, although declined to provide a specific location.
Speaker Ryan serves Wisconsin's 1st congressional district which includes Kenosha and Racine counties and portions of Milwaukee, Rock, Walworth and Waukesha counties.
Ryan labeled the deal a "game changer" and touted Trump for working to make it a reality.
The plant has the potential to employ 13,000 people at an average salary of $53,875, Wisconsin Governor Scott Walker said. Walker added that the facility is slated for a 2020 opening.
"This is a great day for American workers and manufacturers and everyone who believes in the concept and the label 'Made in the USA,' " President Trump exclaimed.
The announcement comes months after Foxconn Chairman Terry Gou said his company would invest at least $7 billion in the U.S. and create between 30,000 and 50,000 jobs. Shortly after the investment was revealed, Trump touted Foxconn's U.S. expansion.
"Foxconn is going to spend a tremendous amount of money on building a massive plant," Trump said last December, "and probably more than one."
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