Foxconn presents at New North Summit in Green Bay
GREEN BAY (WLUK) -- A top Foxconn representative was in downtown Green Bay Thursday afternoon, speaking in front of many businesses hoping to partner with the electronics manufacturer.
“This is clearly an indication that Foxconn has a big interest in reaching out to Northeast Wisconsin, manufacturers mostly, but suppliers who will be serving them in years to come,” said Jerry Murphy, executive director of New North Inc.
Alan Yeung, the director of U.S. strategic initiatives for Foxconn and a 1984 UW graduate, explained the company's decision to locate in Wisconsin at the New North Summit at the KI Convention Center.
“We look at the workmanship, the work ethics,” said Yeung. “When you see a job done well, it's nicely done.”
Yeung spoke highly of the Fox River Valley and Green Bay's role in global trade. He says the talent here is why Foxconn doesn't plan to limit its business to where its plant will be in Southeast Wisconsin.
“Some of the jobs, some of the work, some of the partnership we're looking forward to creating and forging is going to be in Milwaukee, it's going to be in Madison, it's going to be in Green Bay and it's going to be further north and northeast, throughout the whole state,” said Yeung.
Yeung and Foxconn plan to be back in the area early next year. New North is working on a vendor/supplier workshop in hopes of solidifying some partnerships with businesses.
“The key to that is Foxconn will at that point begin describing their practice for how they screen, identify, commit to their suppliers,” said Murphy.
New North currently has 400 companies on its marketplace trying to pair with Foxconn. One of them is Lindquist Machine Corporation in Ashwaubenon
“I think we're just going to have to do the hard work that we always do in trying to get a new customer,” said Mark Kaiser of Lindquist.
The state estimates Foxconn will make $1.4 billion in supplier purchases each year.
The state is providing Foxconn $3 billion in tax incentives for bringing its factory to Wisconsin. In exchange, Foxconn must invest $10 billion in the new plant and hire 13,000 workers.