Foxconn Releases 2018 Wisconsin Project Highlights Including Creation of Over 1,000 Jobs

Milwaukee, WI – Foxconn Technology Group (Foxconn) this week issued a letter to the Wisconsin Economic Development Corporation (WEDC) summarizing key highlights of the company’s achievements in Wisconsin throughout 2018. Foxconn released the following statement:

Foxconn continues to make good progress on all fronts related to the Wisconn Valley Science and Technology Park, as well as our network of Innovation Centers established throughout Wisconsin to support the project and the state’s technology ecosystem. We recently provided the Wisconsin Economic Development Corporation with highlights of our progress related to construction, hiring, environmental sustainability, educational initiatives, and community engagement. Attached is a copy of this letter. 

In 2018, we made the strategic decision to broaden the base of our investment within the State of Wisconsin, far beyond what we initially planned, to ensure the company and our workforce will be positioned for long-term success.

While Foxconn remains committed to creating 13,000 jobs in Wisconsin, we have adjusted our recruitment and hiring timeline. As a company with operations around the world, we need to have the agility to adapt to a range of factors, including global economic conditions. We have done so while simultaneously advancing other aspects of the project and achieving our foremost priority for 2018 – creating a solid foundation upon which the Wisconsin project can continue to grow further.

Foxconn has created 1,032 jobs in support of the project and 178 of those jobs met the requirement for the 2018 round of investment tax credits/co-investment from the state. For that reason, we will not seek the first round of co-investment from the state.

In 2019, we look forward to making continued progress on the construction of the Wisconn Valley Science and Technology Park campus. We will be conducting further information sessions for contractors in coming months. As part of the first phase of the project, we expect to start construction of facilities to house cutting-edge display development, advanced manufacturing, and 8K+5G research and development capabilities in the spring.

Dr. Louis Woo, Special Assistant to Foxconn Founder and CEO Terry Gou, said: “Foxconn’s commitment to Wisconsin remains as strong as ever. In addition to creating more than a thousand jobs in the state so far, Foxconn invested over $200 million to date in Wisconsin, deepened our collaboration with a range of academic partners, supported Badger State businesses, and completed the first of many buildings at the Wisconn Valley Science and Technology Park.

Wisconsin is at the heart of our vision to create a vibrant AI 8K+5G ecosystem and we look forward to working closely with local partners, educational institutions, organizations and businesses to make further progress on the Wisconn Valley Science and Technology Park and our innovation network throughout the state, in line with our Wisconsin First commitment.”

About Foxconn Technology Group

Established in 1974, Foxconn Technology Group (“Foxconn”) is the global leader in manufacturing services for the computer, communication, and consumer electronics (3C) industry. A multinational company headquartered in Taiwan, Foxconn offers many of the leading U.S. and international companies in electronics a one-stop integrated manufacturing solution.  Foxconn generated total annual revenue of $158 billion in 2017 and was ranked No. 24 on the 2018 Fortune magazine Global 500. The company has facilities in Asia, Europe, and the Americas.

Foxconn is leveraging the potential of cloud computing, mobile devices, the Internet of Things, Big Data, artificial intelligence, networks, and robotics and automation, in its transformation as a leading high-tech enterprise and industrial Internet company. The company has research centers and testing laboratories internationally and has received more than 83,500 patents worldwide.  In addition to maximizing value creation for customers, Foxconn is also dedicated to enhancing the concept of environmental sustainability in the manufacturing process and serving as a best-practices model for global enterprises.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.