Where Have You Gone, Foxconn?

It was only four years ago that Foxconn, a major electronics manufacturer, announced it was building a $10 billion factory in Wisconsin and creating at least 13,000 jobs.  President Tariff, oops, Trump, touted it as evidence that his tariff and America First strategies were working.  Your humble blogger opined his concerns on the economics of the deal on September 17, 2017.  A link is below. 

Flash forward to today: the investment is now $672 million and the number of new jobs created is estimated to be less than 1,500. In the immortal words of Maxwell Smart, “Missed it by that MUCH.” 

Here is a key line in the article explaining Foxconn’s decision:

But industry executives, including some at Foxconn, were highly skeptical of the plan from the start, pointing out that none of the crucial suppliers needed for flat-panel display production were located anywhere near Wisconsin. (Emphasis added.)

https://www.cnbc.com/2021/04/21/foxconn-mostly-abandons-10-billion-wisconsin-project-touted-by-trump.html

We continue to hear politicians talk about bringing manufacturing jobs back to the US.  Part of that strategy must include bringing back basic manufacturing capabilities.  Many of our current supply chain issues are related to chemicals and other components used to make other products.  Most of our basic chemicals and basic components come from Asia.  Unless we bring those industries back, the dreams of increasing manufacturing jobs in the US will remain just that: dreams. 

https://briansblog.idimages.com/page/19/?_ga=2.137844784.1458870672.1619010022-1339230267.1603216726

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