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President Trump Holds Major Jobs Announcement

President Trump Holds Major Jobs Announcement

Foxconn was announcing that, after considering a number of states, it had made a decision to build a liquid crystal display (LCD) panel manufacturing plant in southeast Wisconsin.

"The company's initial investment of more than $10 billion will create more than 3000 jobs at a minimum, with a potential for more than 13,000 jobs in the very near future", President Donald Trump said.

"So I think there's some question about the modus operandi of Foxconn on these sorts of things", Levine said. It would mark a substantial gain for a state that now has 472,000 manufacturing jobs and is still recovering from factory layoffs - including the closure of a General Motors plant in Ryan's hometown - that hit after the 2008 financial crisis.

Foxconn is the global leader in electronics design manufacturing, and Rockwell Automation is the world's largest company dedicated to industrial automation and information. He said Foxconn chairman Terry Gou likely wanted a "safety play" in case the United States government were to threaten tariffs on foreign manufacturers.

The state may restart construction on Interstate 94 in Racine County as part of legislation outlining an incentive package for Foxconn to locate in the area.

Foxconn did not immediately return messages seeking comment Wednesday.

Some local economists, however, are confident that Foxconn will have no trouble recruiting thousands to their new staff: Unemployment in neighboring IL, just over the border from those counties, is 4.7 percent.

Wisconsin governor, Scott Walker announced an award of $3 billion as incentives and also mentioned that a MoU will be signed.

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Those numbers, coupled with the Foxconn investment, will help Apple Chief Executive Officer Tim Cook argue that his company is already making a significant contribution to U.S.jobs, according to Andrew Rose, an economics professor at the University of California, Berkeley's Haas School of Business.

Landing the multistate competition had been cast as a once-in-a-generation opportunity.

It remains unclear where the $3 billion will come from. It has been eyeing building the plant in a part of Wisconsin represented by Ryan, who said he has met with company officials at his request.

Critics have cautioned that Foxconn has made promises before to invest in the USA and not followed through. In 2013, Foxconn pledged to build a $30 million manufacturing plant in central Pennsylvania, but the facility was never constructed.

Workers who are out of the labor force but need a job often are weighing the pay and benefits against new costs: a vehicle to buy for commuting, fresh work clothes and arrangements for childcare, he said.

Foxconn expects to use large quantities of water from Lake Michigan. The state of Wisconsin, the General Assembly and the Senate, still have to vote on this.

O'Brien said that beyond the 13,000 jobs directly created by the plant, it would bring at least 22,000 indirect positions at suppliers and other employers, along with 10,000 construction jobs over each of the next four years, and 6,000 indirect jobs from the construction. There are also some sales tax exemption incentives.