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The US$30 billion question for Foxconn

04 August 2017

That was just the beginning, the president told small-business leaders at a gathering at the White House on Tuesday.

Foxconn Chairman Terry Gou is considering tripling his U.S. investment budget to US$30 billion (S$40.85 billion), President Donald Trump said while outlining "off-record" remarks made by the billionaire founder of Apple Inc's biggest manufacturing partner.

"But he told me that off the record, so I promised I wouldn't tell anyone", Trump added.

Trump said at the event last week that Foxconn's investment will create at minimum 3,000 jobs, "with the potential for up to 13,000 in very near future".

Foxconn claims it's considering investment plans for other sites around the U.S. "We will provide an update as soon as we have finalised those plans".

Gou previously said that Foxconn was considering opening plants in seven states before Trump announced last week that a massive factory would be coming to Wisconsin. Currently, Foxconn has factories outside of China in a handful of counties, but this will be the first in North America.

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Foxconn is best known for making iPhones and other Apple devices but its long list of customers includes Sony Corp., Dell Inc. and BlackBerry Ltd.

Taiwanese technology company Foxconn wants to spend $10 billion to build LCD panels on a 20-million-square-foot, 1,000-acre campus of more than a dozen buildings in southeastern Wisconsin by 2020.

The Republicans who control the Legislature are split on how quickly to pass the bill.

Lawmakers are already considering an unprecedented package of up to $3 billion in state subsidies and exemptions from environmental rules to bring the flat screen plant and thousands of jobs to either Racine or Kenosha counties.

In related news, representatives of the medical equipment division within Foxconn recently met with the head of the Carbone Cancer Center at the University of Wisconsin-Madison about potential collaboration with cancer researchers in Taiwan, according to another USA media report.

The US$30 billion question for Foxconn