Foxconn wins approval for new $569 million investment in Wisconsin
By Ben Blanchard and Wen-Yee Lee
TAIPEI (Reuters) -Taiwan’s Foxconn said on Wednesday it had received regulatory approval to invest another $569 million in the U.S. state of Wisconsin to meet growing demand for AI servers.
The Wisconsin Economic Development Corporation (WEDC) has approved a plan by Foxconn, the world’s largest contract electronics manufacturer, to expand operations at its facility in Racine County.
The expansion will focus on Foxconn’s AI server business, which it says will help strengthen U.S. domestic supply chains.
“As demand for more data infrastructure continues to grow, Foxconn will continue to respond to our customers’ needs in the U.S. with flexibility and at scale,” said Jerry Hsiao, Foxconn’s chief product officer.
Wisconsin accounts for nearly a quarter of the company’s U.S. workforce, and the new investment will double its presence in the state by 2030, creating 1,374 new jobs, Hsiao said.
Foxconn, formally known as Hon Hai Technology Group, said it has spent more than $2 billion in Wisconsin on payroll, capital expenditures and taxes in recent years.
(Reporting by Ben Blanchard and Wen-Yee Lee; Editing by Christopher Cushing and Kate Mayberry)
