Foxconn US investment could reach $30B

Interstate 94 construction

President Trump says Foxconn is considering tripling its USA investment budget.

"The historic $10 billion investment Foxconn is making in Wisconsin is a clear sign that businesses around the world are recognizing the many benefits of establishing operations in our state,"Walker said".

The trip announcement comes a week after Taiwanese electronics manufacturer Foxconn said it plans to invest billions of dollars and bring thousands of jobs to Wisconsin.

President Trump said that the head of Asian technology giant Foxconn told him "off the record" that Foxconn may up to $30 billion in the U.S. It did not address Trump's statement about the total investment amount or Trump's claims that Gou told it to him in confidence.

Foxconn repeated in a statement Wednesday that the Wisconsin plant "will be the first of a series of facilities we will be building in several states".

Foxconn CEO Terry Gou submitted a statement that was read by committee chairman Rep. Adam Neylon. Other states that Foxconn said it was looking at were Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas.

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The Wisconsin Legislature is considering a $3 billion incentive package that must be passed by the end of September as part of the deal with Foxconn.

Critics have raised alarms about other provisions waiving environmental permits and regulations to speed construction of the plant.

The company plans to have 3,000 workers when it opens its plant in 2020 with the potential to grow its workforce to 13,000 employees.

"They're going to spend US$10 billion, but he is one of the great businessmen of our time and I think the number is going to be US$30 billion", Trump said.

The bill would also allow the state to borrow $250 million for the Interstate 94 rebuilding project, which connects Milwaukee and Chicago and is near where the plant is expected to be.

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