Anyone who thinks Foxconn is going to build a Factory in Wisconsin, need only look at the promises they made to Pennsylvania. Promises that go back to 2013.Foxconn’s history of broken promises casts a shadow on Wisconsin news
News that Foxconn is planning to build a plant in Wisconsin was announced to some fanfare late Wednesday by Gov. Scott Walker and President Donald Trump.
Not everyone is cheering.
The Taiwanese electronics manufacturer is best known for making Apple’s AAPL, -0.84% iPhone at factories in China, and Trump has been vocal about his desire to bring those jobs back to the U.S.
Foxconn’s chief executive, Terry Gou, joined Trump and Walker, along with Sen. Ron Johnson and House Speaker Paul Ryan, who represents the district in which the plant will be constructed, to unveil the news.
The plant will make liquid-crystal-display screens for TVs and other products, and will employ 3,000 workers initially, with the intent of growing that to 13,000 jobs over time, the officials said. Walker said the plant represents a $10 billion investment, with the state having chipped in a $3 billion, 15-year package of tax incentives.
Gou said in January, without offering details, that he was considering a display-panel manufacturing plant in the U.S. that would create up to 50,000 jobs.
But the details are important, given Gou’s history of making and breaking promises in numerous countries and regions over the years, including in the U.S. A pledge to invest $30 million in a factory in central Pennsylvania in 2013 was also greeted with much ballyhoo, as reported by the Washington Post.
<>Four years later, the factory has still not been built, to the disappointment of state officials. They are not alone.
In 2014, Foxconn promised a $1 billion investment in Indonesia, which has still not happened, according to the Washington Post. A pledge to invest $5 billion in Vietnam in 2007 has also failed to materialize, nor has the company met its promises for India.
READ MORE: http://www.marketwatch.com/story/fo...news-2017-07-27