Wisconsin is going all out to rope in Foxconn, a Taiwanese company, to set up facilities for assembly of Electronic Products that would include Apple iPhones. It is understood that talks are on between both the sides and if the project does materialize, it is expected to generate nearly 50,000 new jobs. That would be boon for the unemployed and would also boost the popularity ratings of Governor Scott Walker as he plans to run for re-election.

What is Foxconn?

Daily Mail UK reports that Foxconn was established in 1974 and purchased in 2016 by Japan's Sharp Corp.

It has already announced that it had plans to invest nearly $7 billion in one of the U.S. factories and would produce display panels that would create as many as 50,000 jobs. The company assembles electronic devices like smartphones for different brands and most of the work is in China where it employs about one million people.

In the course of a recent visit to Milwaukee, President Donald Trump referred to the ongoing negotiations with an unspecified company and hinted that Wisconsin could soon get some good news. He did not elaborate further but indicated that foreign companies are heading to the United States and negotiations are in progress with a manufacturer of phones and other electronic products.

Reactions of the industry

In the opinion of Tom Still, President of the Wisconsin Technology Council, the state of Wisconsin has experience in the manufacture of similar electronic products. That would prove to be beneficial to Foxconn because they can make use of a readily available workforce.

Both Scott Walker and Michigan's Governor Rick Snyder had made short-term unannounced visits to Japan and the objective is believed to have been to follow up possible opportunities for economic development.

Snyder wants to bring Foxconn to his state and therefore, wants his lawmakers to approve tax incentives that would attract large-scale business to the state.

Foxconn CEO Terry Gou has indicated that there are several factors to be sorted out before a final decision can be taken on where to locate the facility. Some of these issues are the availability of low-cost land or power.

He has also added that Pennsylvania has also shown interest and Foxconn is having dialogues with other states also to get the best possible deal.

Obviously, it is now a tussle between Wisconsin and Michigan to land the deal with Foxconn, since employment opportunities will improve. That will be a blessing for whoever wins because unemployment is a curse that leads to unrest, especially among the youth which is bad for society.