Wisconsin Governor Calls Special Session for Foxconn Incentive Package

LIVE STREAM: President Trump Holds Major Jobs Announcement

The company says the new factory will create 3,000 jobs and has the potential to add an additional 10,000 later on.

Walker toured the state on Friday promoting the deal with Foxconn chairman Terry Gou to create what Walker has dubbed "Wisconn Valley" - a technology manufacturing hub that would employ 13,000 and require a $10 billion investment by Gou before the state would send subsidies his way. "This is a great day for America". Wisconsin said it will offer $3 billion in incentives, including tax benefits, to Hon Hai for building the Foxconn plant. In return, the state will provide a $3 billion incentives package and expedite permits.

The companies will also work together on workforce development and training.

Barca, like many Democrats, voiced concern about how much taxpayers may have to contribute in tax breaks and other incentives.

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As an employer in China, Foxconn earned notoriety from news that the company had installed nets on the high-rise dormitories it uses to house workers to prevent deaths from suicide. Foxconn would not get the money until it hits investment and job creation targets, and it could be recovered if the company lays off workers.

It should be noted, too, that Foxconn had said in 2013 that it would build a factory in Pennsylania, but in January of this year stated that the announcement was "not a promise, it [was] a wish". Foxconn counts giants like Amazon and Google among its clients, as well as smaller outfits like Vizio and Acer.

White House Chief of Staff Reince Priebus told a Wisconsin TV station that Trump was aboard Marine One over Kenosha, Wisconsin, in April and spotted the site of a former Chrysler plant. "So we want to start early, we want to look at all the opportunities whether it's in manufacturing, construction, IT, transportation, healthcare, finance and accounting there's just a whole abundance of high demand areas that we have across the state", said Walker.

Republican leaders in the Wisconsin Senate have said Walker had been negotiating a memorandum of understanding with Foxconn to build such a factory in southeast Wisconsin.

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"This is something that will say to the world, 'We have arrived, '" said Walker, adding that this is the company's first USA manufacturing plant.

Kurt Bauer, president of the trade group Wisconsin Manufacturers & Commerce, has taken to referring to the state this week as "Wis-Foxconn-sin" and said the free publicity is sure to boost the hiring prospects. "The bottom line is this company has a concerning track record of big announcements with little follow-through". This would mark a substantial gain for a state that now has 472,000 manufacturing jobs and is still recovering from factory layoffs - including the closure of a General Motors plant in Ryan's hometown - that hit after the 2008 financial crisis.

Overall only 8 per cent of USA workers are employed in manufacturing, down from 22 per cent in 1970 due to the impact of technological change and the growth of global supply chains.

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