iPhone Manufacturer to Invest $10 Billion in American Based Plant!

iPhone Manufacturer to Invest $10 Billion in American Based Plant!

Donald Trump promised that he would improve the economy and bring more jobs to the United States. Are major businesses liking what they see of his presidency so far? It would appear so, at least for an iPhone manufacturer, which will be opening a major American-based plant in the next five years.

Foxconn is the world’s largest contract electronics manufacturer and a major Apple supplier. CEO Terry Gou announced that they will be investing $10 billion in an American plant, investing the money over the next five years. They are currently scouting for locations, with Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina currently under consideration.

The firm, based in Taiwan and originally called Hon Hai Precision Industry Co., has been looking for United States-based investments for quite some time. The plan is to set up a display-making plant, with the location decided next month.

The announcement was made at the company’s annual shareholders meeting on Thursday. “In July we will make a conclusion,” Gou told reporters of the plant’s eventual location.

Foxconn employs approximately one million people in China, where it manufactures iPhones, but so far, has not invested in the United States. That, evidently, is about to change. “This time we go to America, it’s not just to build a factory, but to move our entire supply chain there,” Gou said. Foxconn will not be employing as many workers as they do in China, however; the cost of labor is significantly higher in the United States, and this plant will likely rely heavily on automation.

“In the U.S., the state governors’ sincerity and confidence to attract investment … is beyond my imagination,” Gou said. Donald Trump has long called for an increase in manufacturing jobs in the United States and has urged firms to open plants in the country to bring jobs to the American people.

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