Wisconsin and Foxconn Ink $3 Billion Development Agreement

Wisconsin Gov. Scott Walker signed a memorandum of understanding with Foxconn Technology Group Chairman Terry Gou late Thursday that paves the way for what is being touted as the largest economic development project in the state’s history. The project, dubbed the Flying Eagle by Walker and Gou, will see the Taiwanese manufacturer best known for making Apple’s iPhones invest $10 billion in the state and create 13,000 jobs by 2020. In exchange, the company will get $3 billion in tax credits and purchase 1,000 acres to build its first U.S. manufacturing plant. The agreement is being portrayed as a win for both Walker and President Trump, who on Thursday personally took credit for it at a White House event. Saying the news bolstered his “Made in the U.S.A” label, Trump praised Gou’s decision to invest. “If I didn’t get elected, he definitely would not be spending $10 billion,” he said.