Posted on 06/22/2017 7:44:59 AM PDT by GonzoII
Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple Inc (AAPL.O) supplier, plans to invest more than $10 billion in a display-making factory in the United States and will decide on the location of the plant next month.
The Taiwan-based firm has been eyeing U.S. investments for some time and its CEO, Terry Gou, had previously said the company hoped to spend over $7 billion to set up a display-making plant in the country - which has no panel-making industry but is the No.2 market for televisions.
Foxconn, formally known as Hon Hai Precision Industry Co, is currently considering Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina as possible locations, Gou told reporters after the company's annual shareholders meeting on Thursday.
"In July we will make a conclusion," Gou said, adding the company would invest the money over five years.
(Excerpt) Read more at reuters.com ...
Good luck MI!
Interesting they are looking at the midwest. I would have thought AZ, TX, NM - lots of semiconductor operations there, so a little bit of labor pool.
All of those states listed would make great choices.
Either way, we all win.
Texas Instruments = Texas (DFW area, Alliance Airport)
Thank You President TRUMP!!
No mention of Indiana, where TV Picture tubes were once manufactured by RCA in plants in Bloomington and Marion, and assembled in a plant in Indianapolis. At one time, GE, Sylvania and several other AMERICAN companies also manufactured electronics.
Then all of the manufacturing went overseas to Hon Hai. Now it comes back as Foxconn.
Yay Foxconn!
I’m also rooting for Michigan. I have a lot of young relatives there. Maybe by the time they finish school, they will be ready for consideration. At least two say they are interested in engineering. That’s what they say now, in the ninth grade.
In the early 90’s I worked for a company that built a CRT assembly line system for Zenith. I think the last CRT operation in the US was Philips/Magnavox down in Kentucky?
Either way, the work would be greatly appreciated wherever it ends up.
The point of my post was somewhat sarcastic and pointed at the American electronics industry. RCA became Thomson and shut down all it’s Indiana plants back in the late 1990s and shipped production to Juarez Mexico. They did not embrace the flat screen technology, were left behind, and died. American research created much of the new technology but American production failed.
Yes, I’m glad we are getting some actual electronic production back in the USA. But that does not mean it’s American.
I see your point. By the time that LCD display technology was coming into its own, the old line companies (RCA, Zenith, Magnavox, GE, etc.) were already gone, meaning that they divested all of their US operations, and jumped on the outsourcing bandwagon. They ended up being sales and marketing firms relying on foreign manufacturers and engineers, and lost control of their market to the foreign producers.
I remember when all Foxconn made were cheap connectors for consumer electronics (ribbon cables and pins/sockets). Nothing like they do today.
They outsourced their manufacturing, and then the manufacturers stopped using the “old line” labels and started using their own and relegated the “old line” labels to the dustbin. Foxconn is noted for doing this, and started doing it to Dell.
Who didn’t see that coming? If the execs of the old line companies did, they sure didn’t care because they got their fat bonuses and retired.
Fascinating, telling multinational corps to manufacture in America or be cut out of our market seems to work. Globalists always argued that it was impossible to do this as they strip mined our country. Trump is showing them how easy it is.
Scouting for location. Maybe California or Illinois or New York would be a good place : )
The areas of North Carolina that need this the worst don’t have good air connections, which proves to be a stumbling block. NC isn’t the most generous with the incentives, either. South Carolina gives away the store and so does Alabama, and they end up with the big splash announcements. Overall, NC looks pretty good economically. But, most of the urban areas are doing quite well, which masks the rural areas, and they’re dying.
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