Taiwan Manufacturer Eyes $7B Investment in US

YOUNGSTOWN, Ohio – A Taiwanese company is considering building new manufacturing plants as part of an overall $7 billion investment plan targeted for the United States, and Pennsylvania could be an option, according to reports.

The company, Foxconn Technology Group, said it wants to build a new plant to manufacture screen displays in partnership with Apple, its major customer, and a new plastics-injection-molding operation, the Nikkei Asian Review reported Jan. 23. Foxconn manufactures components for electronics companies and assembles the Apple iPhone.

After the company’s year-end party Jan. 22, reports the Asian Review, Foxconn Chairman Terry Gou told reporters that his company is considering building plants in the United States because it makes sense to meet demand here from factories based in this country.

The story was picked up by U.S. business publications, which quoted Gou as saying as many as 50,000 jobs could be created.

A spokeswoman from the Pennsylvania Department of Community and Economic Development confirmed its Taiwan-based trade representative discussed the opportunities with Foxconn.

“Last month, the Pennsylvania Department of Community and Economic Development’s Taiwan/China investment office representative conversed with Foxconn, who later expressed a desire to invest in Pennsylvania, but the interaction did not address specifics on a proposed project as of yet,” Heidi Havens said in an email.

She said Foxconn first contacted the department’s Taiwan office in December to identify programs and incentives available for companies interested in locating in the commonwealth.

Foxconn has a presence in Pennsylvania. In 2013, it announced it would invest $30 million to construct a new plant in Harrisburg and pledged another $10 million investment into research and development at Carnegie Mellon University in Pittsburgh.

Still, it’s likely that Foxconn would consider other sites as part of its due diligence should it move forward with its plans.

As such, economic-development specialists in the Mahoning Valley are keeping an eye on the project as it develops, or if it develops.

“We’re gathering all the facts and exploring an opportunity for the Mahoning Valley,” said Sarah Boyarko, executive vice president of the Youngstown Warren Regional Chamber. “That’s our normal approach – to explore all attraction opportunities out there.”

Copyright 2024 The Business Journal, Youngstown, Ohio.