Speaker Vos Statement on Foxconn Announcement

Priebus had previously hinted that Wisconsin could be the victor of the multistate competition for the new factory from Foxconn, best known for its role assembling Apple's iPhones.

Economic development officials from the state of MI are still negotiating with Taiwanese electronics conglomerate Foxconn Technology Group, even as it unveils a plan for a $10 billion investment in Wisconsin.

"Today, we're announcing the single-largest economic development package in the history of the state of Wisconsin and one of the largest in the history of this country." said Gov.

Steve Doyle skeptical of luring Foxconn to Wisconsin with millions in incentives
President Trump expected to address Foxconn deal in Wisconsin

The arrival of the plant "represents the return of electronic manufacturing to the United States", Trump said. He continued, "In other words if I didn't get elected he definitely would not be spending $10 billion dollars". Foxconn will spend more than $10 billion in the next four years to build a 20 million-square-foot facility. "It would also require "$1 billion to $3 billion in local, state and federal incentives" the paper reports. "This right here shows actual results", said Speaker Ryan.

And Trump, in an interview Tuesday with the Wall Street Journal, said Foxconn was strongly considering putting the plant in Wisconsin.

Seven U.S. states have competed for new investments from Foxconn.


The company has manufactured technology for Apple, Microsoft and HP among others, and at its peak employed more than 1 million people, mostly in China.

Foxconn's announcement comes only days after Donald Trump said Apple is going to build three factories in the United States.

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said in a statement that the investment "signifies the start of a series of investments by Foxconn in American manufacturing in the coming years".


Apple has not commented about Trump's claim.

Apple (AAPL) supplier Foxconn, which has been flirting with multiple states in its bid to build its first US manufacturing plant, will announce a new multi-billion dollar base in Wisconsin on Wednesday, sources confirmed to FOX Business.

The company, which has been the subject of protests in the past over working conditions at its facilities, also has operations in Asia, Europe and Latin America.


With the new plant in Wisconsin, Foxconn is expected to receive a sizable tax break.


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