Taiwanese manufacturer announces new factory in United States
Share
Taiwanese electronics manufacturer Hon Hai Precision Industry Co. has announced that it will invest up to US$10 billion to build an LCD display panel plant in the US state of Wisconsin, a move that could create up to 13,000 jobs. Chairman Terry Gou unveiled the decision in a ceremony at the White House alongside President Donald Trump on 26 July, with Vice President Mike Pence and two Wisconsin Republicans, Governor Scott Walker and Paul D. Ryan in attendance.
The government of Taiwan has responded positively to the announcement, with Presidential Office spokesperson Alex Huang stating the move will help consolidate Taiwan’s trade relations with the United States. Vice Minister of Economic Affairs Yang Wei-fuu has also commented on the move, stressing that it will build a closer connection between the Taiwanese manufacturer and its international customers.
Under the terms of the MOU, Hon Hai Precision Industry Co. formally agreed to invest up to US$10 billion in the project, with the two phases to be completed over a period of six years. The company also pledged to create at least 3000 jobs in Wisconsin at the outset, with the potential to reach 13,000 over the six year period. The deal marks the largest economic development project in the state’s history and is an important step forward in the company’s US investments.
