“Foxconn will remain committed to the completion and continued expansion of our project and investment in Wisconsin as long as policymakers at the federal, state, and local levels remain committed to Foxconn”
Mount Pleasant, WI – Today, Foxconn Founder Terry Gou issued the following statement regarding Foxconn’s $750M investment in Wisconsin and ongoing commitment to the completion and continued expansion of the Wisconn Valley Science and Technology Park:
“In 2017, President Trump suggested that I should evaluate the potential of establishing Foxconn’s North America manufacturing headquarters in Wisconsin. Before this conversation, Foxconn had never considered Wisconsin as a location for any potential investment.
“The President quickly convinced Foxconn that Wisconsin was the right place for our investment. He brought together State and local leaders to showcase Wisconsin’s exemplary manufacturing and high-tech capabilities, demonstrating that the state had great potential to become a critical part of Foxconn’s global supply chain.
“Foxconn and Wisconsin leaders soon thereafter agreed to an innovative partnership. This agreement, built on “pay-for-performance” incentives, has worked to motivate Foxconn and protect Wisconsin taxpayers.
“Over the past three years, the relationship between Foxconn and Wisconsin has already produced tremendous benefits. Foxconn has invested approximately $750M in Wisconsin, even though it has not received any incentive payments. In fact, the scale of Foxconn’s investment is such that the company has become the largest property taxpayer in Racine County.
“The world has changed a lot since Foxconn’s partnership with Wisconsin began, but Foxconn’s commitment to the state has not wavered. Market conditions and the Covid-19 pandemic have altered the timing of our expansion, the specifics of our manufacturing plans, and our product lines have changed. But through it all, Foxconn has pressed forward with its Wisconsin plans.
“Foxconn re-asserts it will continue to work with President Trump and state and local government officials to create more jobs and to attract new investment to Wisconsin. We are committed to economic growth in Wisconsin and are certain that our work will deliver benefits to the state and to the communities where we are operating. Foxconn will work as a partner with those who treat the company as a partner. Foxconn has greatly appreciated the support of the President and the vast majority of Wisconsin’s political leaders, including the legislature and local elected and economic development officials.
“Foxconn will remain committed to the completion and continued expansion of our project and investment in Wisconsin as long as policymakers at the federal, state, and local levels remain committed to Foxconn and the very important technology development goals driving the company’s investments, as President Trump has done. Foxconn’s work is already delivering benefits to the people of Wisconsin that will only increase as the project moves forward and the partnership between the company and the state deepens.”