Monday, January 23, 2017

Foxconn create 50,000 jobs in U.S.

One of Apple's biggest suppliers says it may spend more than $7 billion to build a new factory on U.S. soil that would create tens of thousands of jobs.

Foxconn is famous for its enormous iPhone assembly plants in China. Its potential investment in the U.S. came to light last month when Softbank (SFTBF) CEO Masayoshi Son was photographed leaving a meeting with Donald Trump. Son was holding a document suggesting Foxconn could create 50,000 jobs.

Over the weekend, Foxconn's billionaire chairman, Terry Gou, filled in some of the gaps in the plan.

He told reporters that the plan to build a plant for displays was still very tentative, but if it went ahead the investment would exceed $7 billion and could create 30,000 to 50,000 jobs, according to news reports.

Gou singled out Pennsylvania as a possible location, adding that the investment would depend on Foxconn being able to negotiate good rates for land and power.  Foxconn, which is based in Taiwan, said it was "conducting an evaluation of the conditions and potential locations for establishing manufacturing facilities in the U.S."

"While it is not currently possible to confirm the location for that potential investment or estimate the number of jobs that might be created, it is expected that it would create many direct and indirect job opportunities with the new operation and throughout the supply chain in the U.S.," the company said.

Softbank's Son made his own pledge after the December meeting with Trump to invest $50 billion in U.S. startups and create 50,000 jobs. Much of the money is expected to come from a fund SoftBank has already set up with Saudi Arabia.

No comments:

Post a Comment