Foxconn to build $10b LCD plant in US

Terry Gou (C), founder and chairman of Foxconn Technology, speaks to reporters in Osaka,Japan,Feb 5, 2016. [Photo/Agencies]

The Foxconn Technology Group announced it will invest $10 billion in the next four years to build a liquid-crystal display (LCD) panel manufacturing facility in Wisconsin, the United States.

The investment, announced on Thursday, will be the largest new greenfield investment made by a foreign company in the US, creating 3,000 new jobs, with the potential to grow to 13,000 jobs in the state, Foxconn said in a statement.

The announcement also signifies the start of a series of investments made by the Foxconn Technology Group in American manufacturing. US President Donald Trump and Terry Gou, founder and CEO of Foxconn, unveiled the information during a ceremony at the White House.

The new facility, located at a site in Southeastern Wisconsin, will manufacture LCD panels used in a wide range of sectors – the latest generation of TVs, self-driving cars, aircraft systems, education and entertainment, as well as healthcare, advanced manufacturing system, office automation and interactive new retail – as stated in the statement.

"We are thrilled to build a state-of-the-art display plant in America's heartland," Gou said.

"As the first in a series of facilities we will build in several states of US, the plant is part of our bigger plan to create a robust 8K+5G ecosystem in US."

He added Wisconsin also offers a talented, hard-working workforce and has a long history in advanced manufacturing, presenting an extraordinary opportunity for the company.