Taipei, Taiwanese manufacturing giant Hon Hai Precision Industry Co., which is building a state of the art flat panel plant in the U.S. State of Wisconsin, has picked Milwaukee as the location for its North American headquarters, according to the Associated Press.
The AP report said on Tuesday the establishment of the headquarters in Milwaukee, southeastern Wisconsin, is part of Hon Hai's commitment to invest US$10 billion in the state connected to the opening of the advanced flat screen factory.
The report said Hon Hai, also known as Foxconn on the global market, will buy a seven-story office building in downtown Milwaukee and call the building "Foxconn Place" to accommodate about 650 employees.
The report added that while the headquarters will house Hon Hai's staff, the building will also become a base for incubators and start-up firms cultivated by the Taiwanese firm.
Cited by the report, Wisconsin Governor Scott Walker said Hon Hai's decision to locate its North America headquarters in Milwaukee demonstrated the company's "ever-growing footprint" in the state.
In the meantime, the Milwaukee Business Journal said Hon Hai will buy the office tower, with a floor area of 132,806 square feet, from life insurer Northwestern Mutual.
"We're excited to have Foxconn come to Milwaukee and be a close neighbor of ours," Northwestern Mutual vice president of real estate Tom Zale said in the Milwaukee Business Journal.
"They bring a whole new dimension to downtown Milwaukee. They broaden the employment base. Their focus on technology and innovation is really exciting," Zale said.
In November, Hon Hai Chairman Terry Gou (???) signed an agreement with Wisconsin Economic Development Corp. (WEDC) to build a flat screen manufacturing campus in the state through an investment of US$10 billion. The WEDC was created by Governor Walker to facilitate investments in the state. The flat panel manufacturing factory and campus will be located in Mount Pleasant, Racine County, on a site of 1,000 acres.
The investment, which echoes U.S. President Donald Trump's "America First" advocacy, is expected to create 13,000 jobs with an estimated average salary of US$53,875 per employee, over a period of up to six years.
Under the Hon Hai investment plan, the iPhone assembler will build a 5G technology ecosystem at the Wisconsin complex rolling out 8K high definition panels.
Wisconsin granted the Taiwanese firm US$3 billion in tax incentives to draw the project to the state, the largest package of subsidies ever given to a foreign company by a U.S. state, according to U.S. media.
In August, Trump even said the Wisconsin project is the first step for Hon Hai as it expands its foothold in the U.S. market, adding that the company could eventually invest US$30 billion in the U.S.
Source: Focus Taiwan