Hon Hai Precision Industry Company Limited, trading as a Foxconn Technology Group, has reportedly stepped up its plans of expanding its operations in North America. As per reliable sources, the Taiwanese company has purchased a site for its American headquarters from the American financial services mutual organization Northwestern Mutual, in Milwaukee, 30 miles north of its upcoming display factory in Wisconsin.
The expansion move plausibly come along the heels of the co-op program that has been announced by the University of Wisconsin-Milwaukee in partnership with Foxconn, entailing engineering scholars to study at the Chung Yuan Christian University, Taiwan. Apparently, these undergraduates will get the opportunity to work at Foxconn for a stipulated period prior to completing their degrees.
Presently, the site at Milwaukee is reported to be encompassing a workforce of 500. The 611 Building will also be housing including an innovation center to assist startups create applications with the help of display technology.
Foxconn’s decision to choose Wisconsin as a partner for its pivotal initiatives is backed by a fact that seems to be quite an open secret, as per experts. According to The Verge, last year, Foxconn announced its plans to construct a factory worth USD 10 billion in Wisconsin to manufacture LCD panels. An initial workforce estimate of 3,000 and an upward limit of 13,000 in the future may have been a sufficient lure for Wisconsin to offer Foxconn USD 3 billion in tax concessions for the coming fifteen years, claim analysts familiar with the matter.
In this regard, sources categorically state that Foxconn’s move isn’t exactly a noble, selfless gesture. However, it may have quite some powerful impact on domestic tech manufacturing in the state.
Authentic reports claim that Foxconn in all probability, may be planning to launch similar such tie-up programs with numerous other Midwestern universities over the coming years, opening up the possibility of further strengthening its expansion plans in North America.