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| Trump takes credit for Foxconn's 'incredible investment' | Trump takes credit for Foxconn's 'incredible investment' |
| (about 14 hours later) | |
| Taiwanese manufacturing giant Foxconn announced plans to invest $10bn (£7.6bn) in a new factory in the US. | Taiwanese manufacturing giant Foxconn announced plans to invest $10bn (£7.6bn) in a new factory in the US. |
| The plant, to be located in Wisconsin, is expected to make LCD panels and employ 3,000 people initially. | The plant, to be located in Wisconsin, is expected to make LCD panels and employ 3,000 people initially. |
| President Donald Trump, claimed credit for Foxconn's "incredible investment" which he said would not have happened if he had not been elected. | President Donald Trump, claimed credit for Foxconn's "incredible investment" which he said would not have happened if he had not been elected. |
| Foxconn has been promised $3bn in subsidies which would come from the state of Wisconsin. | Foxconn has been promised $3bn in subsidies which would come from the state of Wisconsin. |
| The firm's chief executive, Terry Gou, made the announcement at the White House in Washington on Wednesday. | The firm's chief executive, Terry Gou, made the announcement at the White House in Washington on Wednesday. |
| However he did not give details of when construction would begin or identify where the site would be precisely. | However he did not give details of when construction would begin or identify where the site would be precisely. |
| President Trump, who met Mr Gou to discuss the subject and suggested Wisconsin as a location, took credit for the investment during a press conference. | President Trump, who met Mr Gou to discuss the subject and suggested Wisconsin as a location, took credit for the investment during a press conference. |
| "To make such an incredible investment, Chairman Gou put his faith and confidence in the future of the American economy," the President said. | "To make such an incredible investment, Chairman Gou put his faith and confidence in the future of the American economy," the President said. |
| "In other words, if I didn't get elected, he definitely would not be spending $10 billion." | "In other words, if I didn't get elected, he definitely would not be spending $10 billion." |
| During the election campaign Donald Trump focused much of his rhetoric on reviving the US manufacturing sector and "making America great again". | During the election campaign Donald Trump focused much of his rhetoric on reviving the US manufacturing sector and "making America great again". |
| Making it work | Making it work |
| Foxconn is part of Hon Hai Precision Industry, one of the largest electronics manufacturers in the world, with about 1 million employees globally and revenue of more than $100 billion in 2016. The firm has invested heavily in automating its production and works with a variety of companies, including Apple, Tesla and BMW. | Foxconn is part of Hon Hai Precision Industry, one of the largest electronics manufacturers in the world, with about 1 million employees globally and revenue of more than $100 billion in 2016. The firm has invested heavily in automating its production and works with a variety of companies, including Apple, Tesla and BMW. |
| Foxconn said it employs about 3,000 people in the US currently, including at sites in Indiana and Virginia. But a big investment announced in Pennsylvania has not materialised. | Foxconn said it employs about 3,000 people in the US currently, including at sites in Indiana and Virginia. But a big investment announced in Pennsylvania has not materialised. |
| The Wisconsin facility, which Foxconn said could be the first of many investments, marks its biggest expansion into the US yet. | The Wisconsin facility, which Foxconn said could be the first of many investments, marks its biggest expansion into the US yet. |
| But some observers questioned the business rationale. | But some observers questioned the business rationale. |
| "This is clearly a response by Foxconn to pressure from the administration," said Willy Shih, a professor at the Harvard Business School. | "This is clearly a response by Foxconn to pressure from the administration," said Willy Shih, a professor at the Harvard Business School. |
| Mr Shih said even with the subsidies, the firm faces a challenge since additional supply will keep pressure on prices and many of the other parts required for the screens and factory aren't made in the US. | Mr Shih said even with the subsidies, the firm faces a challenge since additional supply will keep pressure on prices and many of the other parts required for the screens and factory aren't made in the US. |
| "Can they make it work? I'm sure they can... The question is, what do the economics looks like? How much money are they willing to lose getting there?" | "Can they make it work? I'm sure they can... The question is, what do the economics looks like? How much money are they willing to lose getting there?" |
| Transforming US manufacturing | Transforming US manufacturing |
| At the press conference Mr Gou said his goal is to jumpstart a new manufacturing ecosystem in the US. The liquid crystal display panels could be used for televisions, self-driving cars and other products. | At the press conference Mr Gou said his goal is to jumpstart a new manufacturing ecosystem in the US. The liquid crystal display panels could be used for televisions, self-driving cars and other products. |
| Foxconn earlier this year said it was exploring possible locations for an investment, sparking fierce competition among different states to win the facility. | Foxconn earlier this year said it was exploring possible locations for an investment, sparking fierce competition among different states to win the facility. |
| Wisconsin Governor Scott Walker said his state is preparing a package worth $3bn to secure Foxconn's commitment. Further details were not immediately available, but the scale of the incentives has raised eyebrows locally. | Wisconsin Governor Scott Walker said his state is preparing a package worth $3bn to secure Foxconn's commitment. Further details were not immediately available, but the scale of the incentives has raised eyebrows locally. |
| Governor Walker said the promise of the campus, which could one day employ as many as 13,000 people and cover 20 million square feet, was worth it. | Governor Walker said the promise of the campus, which could one day employ as many as 13,000 people and cover 20 million square feet, was worth it. |
| "This is exciting and transformational," he said. | "This is exciting and transformational," he said. |
| Bouncing back | Bouncing back |
| The plant is planned for south eastern Wisconsin, a part of the state not far from Chicago and Milwaukee. | The plant is planned for south eastern Wisconsin, a part of the state not far from Chicago and Milwaukee. |
| The state, which has historically leaned Democratic, is politically important for President Trump. He won the state by less than 25,000 votes in the 2016 election. | The state, which has historically leaned Democratic, is politically important for President Trump. He won the state by less than 25,000 votes in the 2016 election. |
| Republican Paul Ryan, who leads his party in the House of Representatives, represents the area. Other members of the White House also have ties. | Republican Paul Ryan, who leads his party in the House of Representatives, represents the area. Other members of the White House also have ties. |
| The state has seen the number of manufacturing jobs shrink by almost a quarter since 2000, but its economy has remained strong. Wisconsin's unemployment rate is estimated at 3.1%, lower than the US average. | |
| "All of those locations are bouncing back and having Foxconn in the midst of that … is really going to be helpful," said Tom Still, president of the Wisconsin Technology Council. "This helps round out the story." | "All of those locations are bouncing back and having Foxconn in the midst of that … is really going to be helpful," said Tom Still, president of the Wisconsin Technology Council. "This helps round out the story." |