Hon Hai Precision Industry Co ’s (Foxconn) strategy to invest in the US is coming under increased scrutiny. The company has already sent a delegation to the White House and on the second day of the visit, governors from six US states, either in person or through representatives, submitted case studies to the delegation team. Detroit Free Press is now citing reports from two inside sources that the state of Michigan hopes to use a program of tax incentives to lure Hon Hai to invest in the state. Citing multiple sources, the report also claims that a number of US states are actively courting for business from the Taiwanese manufacturing giant.
In mid-May Reuters news agency, citing inside sources, reported that Hon Hai plans to start construction on a manufacturing facility in the US in the second half of this year, however no further details were provided.
Addressing rumors of a possible investment in the US and his two recent visits to the White House, at the end of April Hon Hai chairman Terry Gou said the company is planning capital-intensive investment in the US and said the project will include a combination of capital-intensive, skilled-labor-intensive and high-tech investment.
Additionally, in late January Guo stated that if Hon Hai were to establish a flat-panel manufacturing plant in the US, important clients such as Apple Inc would be willing to invest. He added that, as a rough estimate, the investment would likely exceed US$7 billion.
(CNA, translated by Edward Jones)
1. invest v.
投資 (tou2 zi1)
2. capital-intensive phr.
資本密集型 (zi1 ben3 mi4 ji2 xing2)
3. tax incentive phr.
租稅刺激方案 (zu1 shui4 ci4 ji2 fang1 an4)
4. skilled-labor-intensive phr.
技術勞工密集型 (ji4 shu4 lao2 gong1 mi4 ji2 xing2)
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