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Foxconn Decides To Invest $40 Million In US Manufacturing

Foxconn is one of Apple‘s largest manufacturers, effectively the creator and manufacturer of Apple’s iPhone and iPad’s hardware. The company has now announced that it will be investing $40 million in US-based manufacturing.


Foxconn

The move is in response to a growing criticism that companies such as Apple have moved their manufacturing overseas to cheaper labor markets, causing the loss of countless jobs in the U.S. With Foxconn starting to move a few of these jobs back to the States, the criticism towards overseas manufacturing may mild down.

According to Foxconn, it will invest $30 million in a plant based in Pennsylvania. Foxconn already has a facility in Harrisburg and aims to expand it by starting the manufacturing of tools and cables for electric cars as well as other advanced hardware. The move will result in the creation of another 500 jobs.

The company will invest another $10 million at Carnegie Mellon University in Pittsburgh. The money will be used in robotics-related research and development. According to Terry Guo, the chairman and founder of Foxconn, “We don’t want to move the hand-to-hand worker jobs, we want to move the intelligent jobs — the skilled labor jobs.”

The investments will certainly improve the public image of Foxconn in the U.S. It will also help with the increasing employment in the U.S. But to make a difference to the country as a whole, more companies will have to shift their manufacturing units back to create more jobs.

Courtesy: Business Insider

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