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00:00:01
>> The project was ambitious and exciting. A Taiwanese electronics maker would build a state of the art manufacturing plant in the American heartland>> Today, I'm pleased to announce that Foxconn will build a state of the art manufacturing facility for the production of LCD panel products in Wisconsin.
00:00:21
>> A $10 billion 20 million square foot campus employing 13,000 workers, making high-tech LCD screens for televisions.>> TV was invented in America, yet American does not have a single LCD fab to produce a complete 8K system. We are going to change that.>>
APPLAUSE
>> Two years later, Reuters has learned that those plans may be scaled back or even shelved. Louis Woo, special assistant to Foxconn's CEO, told Reuters exclusively, quote, in Wisconsin, we're not building a factory.
00:01:00
>> This is a commitment between the state and Foxconn. It's gonna be rock solid no matter what happens in the future.>>
00:01:19
Instead, Woo said that the company campus intends to hire mostly engineers and researchers. It's not the first sign of a change in heart. Earlier this month, Foxconn reiterated its plans to create 13,000 jobs in Wisconsin, but it slowed the pace of hiring. It initially promised to employ 5,200 people by the end of 2020.
00:01:37
A company source told Reuters the number would likely be closer to 1,000. As for the LCD screens, Woo said it would be more profitable to make them in China and Japan, ship to Mexico for final assembly, and import the finished product to the United States. Wisconsin's new Democratic Governor Tony Evers, who defeated Walker in November, said he disagreed with the Foxconn tax incentives, calling them a corporate handout.
00:02:01
>> We need to make sure that we're good stewards of the money, so we're gonna hold their feet to the fire. Evers' office on Wednesday said they were looking into the changes reported by Reuters, saying the Foxconn project will require further review.