Foxconn Considers $7B US Plant

The Taiwanese company that assembles Apple's iPhones and other electronics is considering investing $7 billion in a US factory to produce display panels that would create as many as 50,000 jobs. Foxconn CEO Terry Gou discussed the potential expansion Sunday during a company meeting in Taiwan, the AP reports. Gou, whose company bought Japan's Sharp Corp last year, said a decision would depend on factors including whether a state where the factory might be built would be willing to provide low-cost land or power. "If American state governments were willing to provide these terms and we calculate it is cheaper than shipping from China or Japan, why shouldn't Sharp build a factory in the United States?" Gou said.

Gou said investment would "exceed $7 billion" and the facility, if built, would employ 30,000 to 50,000 people. He said Pennsylvania is a leading candidate, but Foxconn is in discussions with other states, too. Foxconn, founded by Gou in 1974, assembles smartphones and other devices for Apple, Sony, BlackBerry, and other brands. Most of its operations are in mainland China, where its vast factories employ more than 1 million people. Little-known to consumers, Gou's company raised its global profile with its purchase of Sharp, which is decades older than Foxconn but was struggling financially. (More Foxconn stories.)