Foxconn Signs Deal in Wisconsin
It’s now official, Taiwanese manufacturing giant Foxconn and the state of Wisconsin on Friday signed off on a deal that could bring up to 13,000 jobs to the state.
Thank you to everyone who worked countless hours to make this deal a reality. Together, we are moving Wisconsin FORWARD! #WIWorking pic.twitter.com/wSr7dcskGA— Governor Walker (@GovWalker) November 10, 2017
The manufacturing plant, which will be located in Mt. Pleasant, will be the company's first in the U.S. In order to get the deal done, Terry Gou, Chairman of Foxconn Technology Group had to personally guarantee the state $500 million if the company does not follow through with its plans.
For its part, Wisconsin will put forth $3 billion in incentives as long as certain hiring benchmarks are reached. Employees will also have to be paid at least $30,000 a year with an average salary of nearly $54,000.