Whether it’s finding new office equipment or breaking ground on a new facility, there is a lot that goes into the building of a new space for a company. FoxConn Wisconsin is the result of such effort and investment, and it’s set to improve the job market substantially in the future.
What is FoxConn?
FoxConn—known as Hon Hai in Taiwan—is a massive Taiwanese multinational electronics manufacturing company. It’s the world’s largest contract electronics manufacturer. Started by Terry Gou, FoxConn is guided by the belief that electronic products are an integral part of day-to-day life. They manufacture products for major companies like Apple, Amazon, and more.
The Plan
On June 28, 2018, President Trump, Governor Scott Walker, and FoxConn chairman Terry Gou broke ground on a new facility in Mount Pleasant, Wisconsin. This was the result of a plan put in place years before when the governor and Gou first met. The plan began on the back of a napkin and outlined the backbone of their ideas on how to better the state of Wisconsin.
FoxConn plans on bringing 13,000 jobs to the state of Wisconsin, which will greatly help the economy. Although the plan is not set in stone, the state is positive that the presence of a multinational company will provide serious benefits.
What Will FoxConn Wisconsin Do?
Since 13,000 new employees will be joining the company, FoxConn plans on having a team of world-renowned engineers ready to train them. Aside from engineering positions, FoxConn will have many other opportunities for employment. The construction alone has brought in hundreds of new jobs.
According to Tim Sheehy, President of the Metropolitan Milwaukee Association of Commerce, “The ripple effects of FoxConn’s $9 billion in capital investment, and the ongoing employment from up to 13,000 jobs, generate a return of $18 in additional state GDP for every $1 in state incentives.”
If you want to know more about the deal, take time to research FoxConn Wisconsin to solidify your own opinion on the job-optimizing deal.