Taiwanese contract electronics maker, Foxconn is looking for ideal locations in the United States the manufacturer can invest up to $10 billion in display making factories. By the next month, the major Apple Inc. supplier will determine locations for their facilities.
CEO, Terry Gou, has commented on his desires to invest over $7 billion for the display-making facility in the past. Previously known as Hon Hai Precision Industry Company, Foxconn is currently considering Ohio, Wisconsin, Michigan, Pennsylvania, and North Carolina for potential locations. During the company’s annual shareholders meeting, the electronics maker revealed that they already entered discussions with five states.
Gou recently shared with investors “This time we go to American, not to just build a factory, but to move our entire supply chain there.” He added “We are bringing the entire industrial chain back to the traditional manufacturing region of the U.S. that many include display making, semiconductor packaging and cloud related technologies.”
This is a first for the world’s largest contract electronics manufacture since Foxconn currently primarily operates facilities in China, where they labor over 10 million people and assemble most Apple, Blackberry, and other smartphones. Although the creation of display-making plants will potentially create jobs, the Chinese company stated that it would rely on automation, rather than labor, due to higher costs of labor. Despite that future factories in the U.S. will employ a significantly less amount of human labor, 30,000 to 50,000 jobs are estimated to be created when the project is completed.
President Donald Trump has campaigned the need for manufactures to move back to the United States and this announcement may mark a victory for the commander in chief.