Foxconn to build $10B plant in Wis., create 3,000 jobs

WASHINGTON — President Donald Trump said Wednesday that electronics giant Foxconn will build a $10 billion factory in Wisconsin that’s expected to initially create 3,000 jobs, the largest economic development project in state history.

The announcement comes at a critical juncture for a Trump administration that pledged to generate manufacturing jobs but has struggled to deliver results as quickly as the president promised. Mr. Trump’s plans for health care and taxcuts face a murky future in Congress, while his administrationis bogged down byan investigation into Russia’s possible ties with his presidentialcampaign.

In a White House speech, Mr. Trump said the financial commitment by Foxconn CEO Terry Gou was a direct result of his electoral win.

“If I didn’t get elected, he definitely would not be spending $10 billion,” Mr. Trump said. “This is a great day for American workers and manufacturers and everyone who believes in the concept and the label ‘Made inthe USA,’ ” he added.

But the decision to build the plant in Wisconsin also stemmed from $3 billion in state economic incentives over 15 years if Foxconn invests $10 billion in the state and ultimately adds 13,000 jobs. The incentives would only be awarded if Foxconn creates the jobs and pays an average salary of nearly $54,000.

The Wisconsin factory, scheduled to be open by 2020,would be massive.

Foxconn’s plant will produce liquid-crystal display panels, or LCDs, that are usedin televisions and computerscreens.

The company noted in a statement that having the Wisconsin factory would help it better serve the major U.S. technology companies that are its clients.