Foxconn To Build $10 Billion Factory in Wisconsin, Add 13,000 Jobs

RACINE COUNTY, WI — Foxconn Technology Group, the world’s largest electronics manufacturing services provider, announced Wednesday it will invest $10 billion by 2020 to build a world-class manufacturing campus in Southeastern Wisconsin.

The campus will create 13,000 new jobs in the state and represents the largest new greenfield investment made by a foreign-based company in U.S. history. Foxconn Founder and CEO Terry Gou made the announcement at the White House and was joined by President Donald J. Trump and Governor Scott Walker.

“This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready. Today we are announcing the single largest economic development in the history of the State of Wisconsin. ” Gov. Scott Walker said. “We are calling this development ‘Wisconn Valley,’ because we believe this will have a transformational effect on Wisconsin, just as Silicon Valley transformed the San Francisco Bay Area."

Watch: Tech Company To Invest $10B, Build Factory In Wisconsin

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Walker, speaking at the White House Wednesday afternoon, said that nearly 10,000 construction jobs will be needed to complete the project. It would be the first company in the U.S. to build LCD panels of its kind. Walker said that the factory size would be equivalent to three times the size of the Pentagon, or 11 Lambeau Field Stadiums lined up.

Walker stated that on Thursday, Foxconn will enter into a memorandum of understanding to build the approximately $10 billion plant. The average salary of each worker, Walker said, will be about $53,000 plus benefits. It will accompany $3 Billion of economic incentives to move the project forward from a variety of sources, Walker said.

"This is a great day for American workers and manufacturers, and for anyone who believes in the concept and the label 'Made in the USA,'" Trump said. "The construction of this facility represents the returns of electronics manufacturing in the U.S. Chairman Gou put his faith in the future in the U.S. economy. If I didn't get elected he definitely wouldn't be spending $ 10 billion."

State Sen. Van Wanggaard, a Republican from Racine, lauded the move, which takes place in his home district.

“This is awesome. It is not only a regional and national victory for southeastern Wisconsin, it is an international gamechanger for our region and state. FoxConn could have located anywhere in the world, and chose Wisconsin," he said in a prepared statement. "As much as our region has gained economically, I’m confident there is more to come!”

Speaker Robin Vos a Republican from, released the following statement in regards to the Foxconn decision to build its first U.S. manufacturing plant in Wisconsin. Speaker Vos joined President Donald Trump, Speaker Paul Ryan, Governor Scott Walker and company officials for the announcement at the White House.

“This is a day to remember in Wisconsin; this is a huge opportunity for our state. The selection of Wisconsin will impact generations of families. The manufacturing plant will provide thousands of new, good paying jobs and spur economic growth throughout our state. The company’s choice is a testament to our pro-business climate and fantastic workforce.

“We want our children and their children to stay and raise their families in our state. We want them to have good paying jobs and a vibrant economy. Today marks the beginning of an exciting new chapter in the future of the Badger State.

Racine County Executive Jonathan Delagrave issued a statement applauding Wednesday's news, and pledged to share information with the public as it comes available.

“We are thrilled that a company of this magnitude has recognized the business opportunities available in Wisconsin. We will be proud to have them as part of our great state," he said in a prepared statement. “While we would welcome this type of investment in Racine County, it is our policy not to comment on speculation around potential development opportunities. We are also committed to transparency. If and when we have further information that we are able to share, we will engage in a full dialogue with the community."

Image via whitehouse.gov