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Taiwanese Tech Company Chooses Wisconsin Over Illinois

Posted on in Business Law

Illinois business law attorneyIn recent months, at least seven states—including Illinois—have been vying for the attention of Foxconn, a Taiwan-based technology company looking for a new foothold on American soil. Illinois lawmakers and industry leaders believed that landing a Foxconn plant could have been a major boost to the state’s economy and would have created thousands of new jobs.

This week, however, an announcement by Foxconn dashed the hopes of Illinoisans by confirming that it plans to build a 20-million square foot facility in Wisconsin. The new plant will produce LCD panel screens and is expected to employ 3,000 workers when it opens. The company also said that its Wisconsin plant could eventually employ as many as 13,000 as it continues to invest in the region.

A Questionable History

Foxconn is well-known throughout the tech world for producing Apple’s iPhones as well as displays for other big-name companies. Despite the obvious disappointment from lawmakers in Illinois and the other states that were not chosen—including Pennsylvania, Michigan, Indiana, Ohio, and Texas--many are concerned that Foxconn may not live up to its word. In 2013, the company unveiled plans for a $30 million factory in Pennsylvania that would have employed 500 workers. Those plans never came to fruition.

Still, Wisconsin Governor Scott Walker calls the planned facility the largest economic development project in Wisconsin’s history. The state is expected to provide $3 billion in incentives to Foxconn, a proposal that will require approval from the state legislature.

Undecided Location

As of now, Foxconn has not announced exactly where the new plant will be built, but the company is considering several sites in southeast Wisconsin. Political pundits have already observed that much of southeast Wisconsin is within the state’s 1st Congressional District—the home district of current Speaker of the House Paul Ryan. According to White House Chief of Staff Reince Priebus, however, it was President Donald Trump himself who suggested at least one of the locations—the site of an old Chrysler plant—to Foxconn officials after the president spotted the site while flying over Kenosha.

Regardless of one’s political affiliation, if the plant becomes a reality, the creation of thousands of new jobs should be a welcome addition to the American economy.

Looking to Expand Your Business?

While your company may not be a multinational business, expanding into a new market is always challenging. If you are thinking about building or acquiring a new location, contact an experienced business law attorney in Arlington Heights. At A. Traub & Associates, we are committed to helping you and your company thrive both now and well into the future.

 

Sources:

http://www.chicagotribune.com/business/ct-foxconn-manufacturing-wisconsin-illinois-0716-biz-20170714-story.html

https://www.reuters.com/article/us-apple-foxconn-wisconsin-idUSKBN1AB258

http://www.chicagobusiness.com/article/20170726/NEWS05/170729898/illinois-loses-huge-foxconn-factory-to-wisconsin

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