Posted on 01/23/2017 7:15:32 AM PST by SeekAndFind
The world’s largest contract manufacturer of electronics, the principal supplier of iPhones and iPads, has let it be known that Pennsylvania may be the home of a massive investment in US manufacturing. Bloomberg reports:
Foxconn Technology Group is considering building a U.S. display-making facility for upwards of $7 billion, a major investment for Apple Inc.’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office.
The company is considering a joint investment with Sharp Corp.[1], the Japanese display supplier it bought last year, but details have yet to be hammered out, Reuters cited Chairman Terry Gou as telling reporters in Taipei on the sidelines of a company event. Foxconn confirmed the report Monday.
Foxconn is a massive company that walks a political tightrope. It is based in Taiwan yet does much of its manufacturing in Mainland China. It received massive amounts of bad publicity from suicides among its workers and for alleged child labor exploitation. Political considerations are part of its daily operations.
A potential strategic shift by Foxconn unnerves Chinese authorities because the company employs roughly a million workers across the country. Major factory job cuts have been known to trigger protests in the past, even as maintaining social stability remains among the top priorities of the ruling Communist Party.
China has plenty of worries over its economy right now. Cheaper labor markets are encroaching on its industries from below, and automated manufacturing technologies are poaching jobs from above. And the new POTUS is openly promising to change our trade relationship and ending the Two-China policy.
(Excerpt) Read more at americanthinker.com ...
Foxconn CEO says investment for display plant in U.S. would exceed $7 billion
Taiwan's Foxconn chief confirms mulling $7 bn US investment
Foxconn-Sharp considering LCD plant in US
Another Trump Win: Apple Supplier Foxconn Says It Is In Discussions To Expand US Operations
Foxconn says in preliminary discussions to expand U.S. operations
Apple assembly partner Foxconn plans US expansion
The demographics matter in this.
PA is one of those states losing population (and EVs). A look needs to happen as to from where that is happening.
I doubt Philly people are leaving their gov’t handouts to go somewhere else where the handouts are not known.
So the place for this plant is in coal country, to hold that sort of population and maybe attract more. At all costs, rural out-migration needs to be stopped.
We need to peel back our enthusiastic gushing and remember that win was only a few 10s of thousands of votes spread over 3 states. You can lose those votes as easily to out migration as to policy failure.
No way in he’ll I would put it in PA. Look for somewhere down South with a better labor, more favorable laws, ND lower cost.
Given Trump's momentum and the fact that the PA state legislature is overwhelmingly Republican, the prospect of such a massive jobs catch could well see a change in tax rates.
Even if a corp. tax break were on the table, I'd imagine that any losses incurred from such would be more than made up for by increased revenue from employee income taxes and decreased expenditures for unemployment comp. outlays, etc.
“China has plenty of worries over its economy right now. Cheaper labor markets are encroaching on its industries from below,”
Payback is a bitch, ain’t it, Chicoms ?
And if they build the plant in Philadelphia, that helps secure Pennsylvania for Trump in 2020!
Businesses always look for ways to cut labor costs.
Africa is the next cheap labor pool..................
Hadn’t thought of Africa. Good point.
WINNING!!!!
I can hear the moans and groans of the snowflakes even from here!
Great news for the US and especially PA!
Still not tired of winning!
My guess will be wPA... because of the tool & die industry that remains in that area that is oriented toward high-speed metal stamping and robotic assembly. Philadelphia has some of that too, but fewer shops remain.
Pittsburgh is a very liberal city from what I've heard. Hopefully it goes to some place a little more red where they really need the jobs.
True. I was looking for a location in PA. None cited.
I hope he cuts all the ribbons.. #winning
Thanks to SeekAndFind for posting.
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From the article:
"Foxconn is a massive company that walks a political tightrope. It is based in Taiwan yet does much of its manufacturing in Mainland China. It received massive amounts of bad publicity from suicides among its workers and for alleged child labor exploitation. Political considerations are part of its daily operations."
The suicide rate at Foxconn, even at its highest in 2010/2011 was a mere 0.75 per 100,000 workers per year, while the suicide rate in US Ivy League Universities in the same age cohorts was 11 per 100,000 per year. There was only a sustained propaganda campaign mounted against Foxconn by Anti-Apple competitors that even brought up the suicide issue. The TOTAL number of suicides at Foxconn during that period among a work force of that grew from 750,000 to 1.5 million workers during that period was just 18 workers who killed themselves in an 18 month period spread over 27 assembly plants in 22 cities. Workers in Foxconn plants were less inclined to kill themselves than were people in China's general population which has an overall suicide rate of approximately 17 per 100,000 per year. There is no story here except that which is kept alive by propagandists.
The CURRENT suicide rate among Foxconn workers in 2013, 2014, and 2015 is remarkable as there was exactly ONE suicide among 1.6 million workers in 2013, ZERO in 2014, and ZERO again in 2015. The number has yet to be reported for 2016.
As for child labor, that is another false meme. Apple's contracts require that if an underage worker is discovered working on their products in ANY of the subcontractors, that subcontractor is REQUIRED to pay for that underage worker's education through graduation from a university or age 26, including room and board, which ever occurs first. That is a huge dis-incentive for hiring underage workers. Apple has actually pulled multi-billion dollar contracts from sub-contractors who have egregiously violated the under-age provisions of their contracts and awarded that work to higher bidders who guaranteed they would meet those provisions! External audits of the employees of Apple's subcontractors have found just 116 underage workers, with most of those using either forged or borrowed ID to get hired, over a period of years. All of these underage workers were offered the paid educations.
They actually started talking about it in June.
I do not recall ANY business’s doing what we have seen since Donald Trump was elected. The company I work at laid off 10’s of thousands since obama. I remember the top execs giving us all a talk in a meeting where they talked about how obamacare would be impacting the company.
The years since that 1 unlawful act was created cost millions their jobs. The democrats are worried that Donald Trump will reverse all of the joblessness as it will mean the democrats won’t be in control as they can only be when anarchy rules.
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