Pres. Trump Says Foxconn Could Triple US Investment Budget

Trump said Foxconn chairman told him 'off the record' that company may triple Wisconsin investment to $30 billion

Trump: Foxconn CEO said 'off the record' that he may invest $30B

United States president Donald Trump revealed at a meeting with a group of small-business leaders August 1 that Foxconn chairman Terry Gou told him privately that his company could invest as much as US$30 billion in the United States, three times the figure announced by Gou at a press conference held on July 27 at the White House.

Trump made the comments while speaking at a White House small business event on Tuesday.

Chinese company Foxconn said last week it would to spend $10 billion on a state-of-the-art manufacturing facility in Wisconsin, and create 3,000 jobs in the process.

Foxconn CEO Terry Gou submitted a statement that was read by committee chairman Rep. Adam Neylon. It did not address Trump's statement about the total investment amount or Trump's claims that Gou told it to him in confidence. "That's called big business, by the way".

Foxconn reiterated in a statement Wednesday that the Wisconsin plant "will be the first of a series of facilities we will be building in several states".

Thursday's hearing came just six days after the bill was introduced. Other states that Foxconn said it was looking at were Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas.

Lawmakers are already considering an unprecedented package of up to $3 billion in state subsidies and exemptions from environmental rules to bring the flat screen plant and thousands of jobs to either Racine or Kenosha counties. Gou said in June that Foxconn's U.S. investment may eventually exceed US$10 billion. It's best known for making iPhones and other Apple devices but its long list of customers includes Sony Corp., Dell Inc. and BlackBerry Ltd.

In related news, representatives of the medical equipment division within Foxconn recently met with the head of the Carbone Cancer Center at the University of Wisconsin-Madison about potential collaboration with cancer researchers in Taiwan, according to another US media report.

Latest News