Foxconn Planning $10B US Investment, Eyeing Six States for Display Plant

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Megalith

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Foxconn is reportedly planning to invest $10 billion or more across several US states, although the company is still deciding on which ones, including where to put a $7 billion display plant. Foxconn chairman Terry Gou believes his company could help create "tens of thousands" of jobs in the US, even as the company is increasing automation in China to reduce labor expenses.

Investments are being considered in Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and/or Texas, Bloomberg quoted Foxconn chairman Terry Gou as saying at a Thursday shareholders meeting. The display plant could go up in one of six states, he noted, without mentioning the candidates. The chairman likewise didn't offer a timeframe, except that a decision on where to build the display facility should come by July.
 
U.S. labor has finally eroded to a level where they can be profitable shipping product back to China's booming middle class.
 
vr. said:
U.S. labor has finally eroded to a level where they can be profitable shipping product back to China's booming middle class.
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These plants are going to be heavily automated, they're already automating them in China where labor is still generally cheaper than the US. The whole point of building them in the US is they can avoid the shipping costs from China to the US while also taking advantage of low production costs via automation.
 
vr. said:
U.S. labor has finally eroded to a level where they can be profitable shipping product back to China's booming middle class.
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Foxconn is not a Chinese company, it's from Taiwan.

From all the news lately, it seems that Foxconn CEO have intention to run for next Taiwan's Presidency. In order to get away from the Chinese conflict, he is trying to move the factory away from China. He was already talking about it years back.
 
Why on earth would they consider Illinois? As a resident, I'd strongly advise them against the state. Any incentives the state is offering are unlikely to materialize, given the condition of the state's finances.
 
shansoft said:
Foxconn is not a Chinese company, it's from Taiwan.
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The Internet said:
The PRC considers Taiwanese territory to be part of its territory. The ROC also considers it part of its territory. Interestingly, the territory of Taiwan is not an independent country even according to the ROC constitution. Both claim to be the legitimate government of the entirety of China.
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Well, there's that.

I'll wait here while you go convince President Xi Jinping Taiwan can break up with him.
 
This will not work. Trust me. Go ahead three years to find the proof. By then, it has failed.
 
vr. said:
Well, there's that.

I'll wait here while you go convince President Xi Jinping Taiwan can break up with him.
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Uh...Foxconn is a Taiwanese company, whatever the geopolitical stances of the PRC and ROC. Your initial statement, "U.S. labor has finally eroded to a level where they can be profitable shipping product back to China's booming middle class." is entirely correct in that Foxconn has a lot of factories in China, and if I'm not wrong, has been in the media spotlight for incidents at those factories, honestly I was fine with your statement because of that.

But calling Taiwan = China is misleading in answering where Foxconn is based in.
 
vr. said:
Well, there's that.

I'll wait here while you go convince President Xi Jinping Taiwan can break up with him.
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Depends on who you ask. If I am going by international laws, then Taiwan's actually a US protectorate since nobody would agree with the Treaty of San Francisco of 1951 where Formosa was formally turned over to ROC.
 
I'm telling ya, Detroit will probably give you the land for free or stupid cheap, they just want tax revenue and jobs.
 
Mohonri said:
Why on earth would they consider Illinois? As a resident, I'd strongly advise them against the state. Any incentives the state is offering are unlikely to materialize, given the condition of the state's finances.
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It all depends. They will get taxed up the ass, but if they get in with the political crooks, they'll get a shit ton of illegal kickbacks as well.
 
And again, as I said the first time this was reported - it is jarring how many people seemingly are UPSET about jobs coming back to the US. Despite the issues and automation in China, they are projecting tens of thousands of jobs in the US. That's not a number they are pulling out of their ass - they need to do cost analysis including how many people they will need to hire.

Restrictions on US manufacturing are getting tossed out the window left and right, and jobs and companies are coming back here.

And yet some people are either in denial or almost acting like they HOPE it fails.

I can't even imagine what kind of person you have to be to hope that your country becomes LESS prosperous. There are some truly sick people in the world...
 
My wife works for one of those candidates. In fact, her boss, the CEO, met with Foxconn in China last week.
 
Hmmm bringing plants to the US, where everything from cost of power to environmental laws are much higher. Sounds like somebody wants to fast track green cards for their family. (and yes you can get in this country much MUCH quicker if you invest in it, such is the way of our government)
 
Burticus said:
I'm telling ya, Detroit will probably give you the land for free or stupid cheap, they just want tax revenue and jobs.
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Except don't they stick the buyer with the outstanding back taxes causing the buyer to tell Detroilet to go pound sand?
 
sfsuphysics said:
Hmmm bringing plants to the US, where everything from cost of power to environmental laws are much higher. Sounds like somebody wants to fast track green cards for their family. (and yes you can get in this country much MUCH quicker if you invest in it, such is the way of our government)
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If the CEO were a Chinese citizen, sure I might think that. (Except the requirements to "pay" your way are way below the cost of a factory, $500K) He's Taiwanese, and his net worth is 10 billion according to Forbes.

Edit: My bad, Taiwan is one of the countries where a lot of EB-5 visa applicants come from. Still, I'm not too sure billion tycoons are really in the need for green cards. Its way more likely that Foxconn actually gets some economic benefit from building plants in the U.S like Toyota or etc.
 
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Is this how it begins where the US becomes a 3rd world country? I mean China is outsourcing to the US. Then we ship the stuff back over there for them to do whatever. China is already excelling in other markets as well as consuming more. Space industry and space tourism, mining the moon and asteroids, computers and mobile, etc.
 
midnightfrolic said:
Is this how it begins where the US becomes a 3rd world country? I mean China is outsourcing to the US. Then we ship the stuff back over there for them to do whatever. China is already excelling in other markets as well as consuming more. Space industry and space tourism, mining the moon and asteroids, computers and mobile, etc.
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Pretty sure we've been decling for decades now. Throw in some corruption and shitty government direction and it doesnt help.
 
Zion Halcyon said:
And again, as I said the first time this was reported - it is jarring how many people seemingly are UPSET about jobs coming back to the US. Despite the issues and automation in China, they are projecting tens of thousands of jobs in the US. That's not a number they are pulling out of their ass - they need to do cost analysis including how many people they will need to hire.

Restrictions on US manufacturing are getting tossed out the window left and right, and jobs and companies are coming back here.

And yet some people are either in denial or almost acting like they HOPE it fails.

I can't even imagine what kind of person you have to be to hope that your country becomes LESS prosperous. There are some truly sick people in the world...
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I think these kinds of folk are hoping automation will lead to UBI so they can sit around on their ass and get paid for doing nothing. The longer actual jobs exist, the longer their precious UBI is delayed.

And of course you also have Trump haters who will resent any good news for the USA under his leadership.
 
Smashing Young Man said:
I think these kinds of folk are hoping automation will lead to UBI so they can sit around on their ass and get paid for doing nothing. The longer actual jobs exist, the longer their precious UBI is delayed.
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If automation doesn't result in a UBI then average quality of life in the US will plummet to a level worse than what was seen during the Great Depression when those jobs are eliminated. Maybe even worse than what happened during the Long Depression of the 1870's and people were actually hanging Wall St. types from lamp posts and rioting violently enough to have the military or militias called up to put them down back then.

Smashing Young Man said:
And of course you also have Trump haters who will resent any good news for the USA under his leadership.
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If Foxconn brings plants to the US it has nothing to do with Trump or his policies, most of which are seen as either ridiculous or failures even by his own Republican Congressman and as such haven't been implemented.
 
Zion Halcyon said:
And again, as I said the first time this was reported - it is jarring how many people seemingly are UPSET about jobs coming back to the US. Despite the issues and automation in China, they are projecting tens of thousands of jobs in the US. That's not a number they are pulling out of their ass - they need to do cost analysis including how many people they will need to hire.

Restrictions on US manufacturing are getting tossed out the window left and right, and jobs and companies are coming back here.

And yet some people are either in denial or almost acting like they HOPE it fails.

I can't even imagine what kind of person you have to be to hope that your country becomes LESS prosperous. There are some truly sick people in the world...
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Who is upset? Must be part of a discussion I missed.
Though speaking for myself, not sure about how giddy I am about restrictions being "tossed out left and right".... depends on the restrictions I guess... I'm not a China expert but don't they have a serious air (among other) pollution problem?... Not sure what kind of sick person hopes America becomes like that. Finally, why herald and welcome the company where it's employees COMMIT SUICIDE because of working condiitions? Those are the jobs you want brought here?
 
Unions as a whole are on a decline in the US because their obsolete rhetoric is not compatible with business practices and environments of the last 30 years.
Yes, unions have won reforms, and also done a lot of damage (Detroit)
Their rhetoric is straight out of the socialist workers party play book. That went over in the 1930s, but not in the present day.

A shining example of this is the VW plant near Chattanooga TN flat out rejected joining the UAW even though the management (being German) was in favor of a unionizing the work force. (little did they know that workers unions in Europe and the US are vastly different) The UAW organizers left Tennessee in a stunning defeat. And they thought it would be a slam dunk to get these rubes in flyover country to sign up for a union. HA!!

Years ago when I was doing field service; I was working on a copier at a IBEW (international brotherhood of electrical workers) union hall. Electricians were filing in for a union meeting. The "union boss" was sitting at his desk in the front. Guy had a big gut hanging over his belt, was sitting there smoking a cigar and cussing a blue streak. He got up and went into the hall. The doors were closed but I could hear clearly what was being said by the speaker. I was stunned at what I heard. It seemed to be a speech written in the 1930. It was just like the first part of HOFFA when they were union organizing in the 30s. I was stunned and found the whole thing cartoonish!
 
Zion Halcyon said:
And again, as I said the first time this was reported - it is jarring how many people seemingly are UPSET about jobs coming back to the US. Despite the issues and automation in China, they are projecting tens of thousands of jobs in the US. That's not a number they are pulling out of their ass - they need to do cost analysis including how many people they will need to hire.

Restrictions on US manufacturing are getting tossed out the window left and right, and jobs and companies are coming back here.

And yet some people are either in denial or almost acting like they HOPE it fails.

I can't even imagine what kind of person you have to be to hope that your country becomes LESS prosperous. There are some truly sick people in the world...
Click to expand...
You're correct, it isn't a number pulled out if their ass. However nothing is mentioned about the longevity of the jobs. You see to build a plant that large will in fact require tens of thousands of construction workers. If you have ever been involved with commercial construction you would know this. After the construction though the plants will be automated to the point where they only require a few hundred perhaps as high as a thousand humans to run them. So those tens of thousands of jobs dry up pretty quickly.

Sorry to burst your bubbles.
 
Dekoth-E- said:
You're correct, it isn't a number pulled out if their ass. However nothing is mentioned about the longevity of the jobs. You see to build a plant that large will in fact require tens of thousands of construction workers. If you have ever been involved with commercial construction you would know this. After the construction though the plants will be automated to the point where they only require a few hundred perhaps as high as a thousand humans to run them. So those tens of thousands of jobs dry up pretty quickly.

Sorry to burst your bubbles.
Click to expand...


Which is the point. Yes a portion if those jobs are temporary or part of the construction and setup, but that is the nature of all "we are bringing in X jobs" rhetoric. To include the "my administration created X jobs" line that every President has thrown spoken to in the last 20 years. Every Department of Labor statistic that show a decrease in unemployment includes temporary, seasonal, contract and on-demand jobs at that time. A job is a fucking job.

The fact is Foxcon is bring manufacturing to the US that will create jobs, short and long term. There are no bubbles to burst.

I swear people will find ways to shit on just about anything.
 
termite said:
Which is the point. Yes a portion if those jobs are temporary or part of the construction and setup, but that is the nature of all "we are bringing in X jobs" rhetoric. To include the "my administration created X jobs" line that every President has thrown spoken to in the last 20 years. Every Department of Labor statistic that show a decrease in unemployment includes temporary, seasonal, contract and on-demand jobs at that time. A job is a fucking job.

The fact is Foxcon is bring manufacturing to the US that will create jobs, short and long term. There are no bubbles to burst.

I swear people will find ways to shit on just about anything.
Click to expand...

It isn't a matter of shitting on anything, just giving perspective. No jobs aren't jobs. A permanent position holds a great deal more value to the economy than a temp. Most people when hit with things like this are thinking permanent positions are being created when they aren't. Most of those created jobs will be 6-12 months and the rest 15-24 months. Sure that helps some, but it isn't a long term solution. It is a bandaid fix that in most cases will pull in a ton of out of state crews in for the contract with usually around 10% being local hires. The local hires are also the first to go out the door as projects get checked off. Do what it does really is create an illusion of jobs in an area. This results in a temporary boon for local business like lodging and food, but as soon as the project is over things go back to how things were or in some cases worse than before as all the temp hires get laid off and go on unemployment. So the end result is you end up with a huge influx of people and usually a net negative of jobs created after project is complete.

So no, jobs aren't jobs.
 
Dr. Righteous said:
Unions as a whole are on a decline in the US because their obsolete rhetoric is not compatible with business practices and environments of the last 30 years.
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No its because of widespread anti union laws that were passed starting in the Reagan era like "Right to Work". On top of that there is ridiculous anti union propaganda that is widespread among Conservatives and companies to suppress formation of unions and most unions don't have the resources to do their own sort of press and media anymore.

Dr. Righteous said:
and also done a lot of damage (Detroit)
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Detroit's decline had nothing to do with unions. That was a combination of global economic factors, outsourcing, and white flight that helped to ruin that city's economy and tax base.

Dr. Righteous said:
A shining example of this is the VW plant near Chattanooga TN flat out rejected joining the UAW
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That has nothing to do with the rhetoric or leadership of the unions. Its because the workers at that plant have been suckered by anti union propaganda and now they're going to suffer for it with less pay, less job security, and less benefits. So they've screwed themelves.
 
termite said:
Which is the point. Yes a portion if those jobs are temporary or part of the construction and setup, but that is the nature of all "we are bringing in X jobs" rhetoric. To include the "my administration created X jobs" line that every President has thrown spoken to in the last 20 years. Every Department of Labor statistic that show a decrease in unemployment includes temporary, seasonal, contract and on-demand jobs at that time. A job is a fucking job.

The fact is Foxcon is bring manufacturing to the US that will create jobs, short and long term. There are no bubbles to burst.

I swear people will find ways to shit on just about anything.
Click to expand...

Exactly. People trying to find a moral superiority in this argument are sick. A job is a job. I mean, look at construction - do those people work their whole lives on one building, one house, one street? No. So do we laugh at them for the temporary nature of their projects? No - because common sense dictates that's the nature of their field. Did the temporary nature of whatever job they completed somehow take away the fact that they worked that job, got paid for that job, and took care of themselves and their families on that job? Hell no. They still got paid, still had work, still took care of themselves and their families.

Let's just call it what it is - there are people who have their politics shoved so far up their rectum they don't understand they are spewing bullshit to anyone with common sense.

MORE Jobs are a good thing - its a sign of a prospering nation going through growth. Anyone saying anything else is either trying to sell something, steal something, or else bet on the wrong horse so to speak and are doubling down to soothe their ego.
 
Zion Halcyon said:
MORE Jobs are a good thing - its a sign of a prospering nation going through growth.
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Only if the jobs provide stable long term employment and pay a livable wage. A short term one off construction job won't do that and that is exactly the sort of job creating you can expect from Foxconn here.

I'd also point out Q1 2017 GDP growth has been pretty bad. And that it takes 120,000-150,000 more jobs each month just to keep up with births. A short term increase of a few thousand jobs that are mostly gone within 6-9 months is a blip by any reasonable measure from a national economic standpoint.
 
mesyn191 said:
No its because of widespread anti union laws that were passed starting in the Reagan era like "Right to Work". On top of that there is ridiculous anti union propaganda that is widespread among Conservatives and companies to suppress formation of unions and most unions don't have the resources to do their own sort of press and media anymore.


Detroit's decline had nothing to do with unions. That was a combination of global economic factors, outsourcing, and white flight that helped to ruin that city's economy and tax base.
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I'll agree that "Right to work" is a terrible misnomer. While such laws can be called "anti-union," I think it's worth pointing out what they actually cover. RTW (usually) means that a union can't force an employer to require all employees to join the union as a condition of employment. Other stuff, like Wisconsin's Act 10, do indeed make it harder for unions to metastasize, but I see that as a good thing--if a union is really serving its members, they can recertify the union easily. It's just that now the State isn't collecting dues on the union's behalf--the union has to pull its own weight.

I find it very interesting that once unions had to be recertified each year and collect their own dues, membership dropped over 40% in Wisconsin. That tells me that an awful lot of people didn't think the union was worth it.
 
Zion Halcyon said:
Exactly. People trying to find a moral superiority in this argument are sick. A job is a job. I mean, look at construction - do those people work their whole lives on one building, one house, one street? No. So do we laugh at them for the temporary nature of their projects? No - because common sense dictates that's the nature of their field. Did the temporary nature of whatever job they completed somehow take away the fact that they worked that job, got paid for that job, and took care of themselves and their families on that job? Hell no. They still got paid, still had work, still took care of themselves and their families.

Let's just call it what it is - there are people who have their politics shoved so far up their rectum they don't understand they are spewing bullshit to anyone with common sense.

MORE Jobs are a good thing - its a sign of a prospering nation going through growth. Anyone saying anything else is either trying to sell something, steal something, or else bet on the wrong horse so to speak and are doubling down to soothe their ego.
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Read my last post. You haven't the faintest clue how things like this work. This isn't job creation. A better definition would be job relocation as that is closer to what is happening. Construction projects like this are done by large corporations that move already employed permanent staff from job site to job site. Very few actual "new" positions are actually created. So no it doesn't work anything like how some you want to believe. You should probably educate yourselves on topics before slinging insults in the future.
 
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