foxconn apple
Foxconn Technology Group, the Taiwanese multinational electronics contract manufacturing company headquartered in New Taipei City, Taiwan, is considering a joint investment with Apple Inc. for a display manufacturing facility in the U.S., Bloomberg reports from the Nikkei Asian Review.

The facility would cost more than $7 billion and may create an eventual 30,000 to 50,000 jobs. The rising demand for larger displays makes domestic U.S. production a better solution than shipping from China.

Foxconn, also known as Hon Hai Precision Industry Co., is also planning a new molding facility in the U.S., possibly in Pennsylvania. Separately, Smart Technologies, a Foxconn-controlled interactive display company in Canada, may move to the U.S. in light of President Donald Trump’s indication he may seek to alter terms of the North American Free Trade Agreement.

Foxconn’s plan to set up factory in America, which would create thousands of local jobs and boost the economy, is in line with President Trump’s economic revival plan to Make America Great Again.