The Latest: Foxconn, UW-Madison sign $100 million agreement
MADISON, Wis. (AP) — The Latest on Foxconn agreement with the University of Wisconsin-Madison (all times local):
Foxconn Technology Group says it will invest $100 million in engineering and innovation research at the University of Wisconsin-Madison.
The deal announced Monday is one of the largest gifts in the university’s history and comes as the Taiwan-based electronics giant builds its first North American factory in southeastern Wisconsin.
Foxconn CEO Terry Gou and UW-Madison Chancellor Rebecca Blank signed an agreement that also calls for Foxconn and the university to create a science and technology institute on the UW-Madison campus.
Blank says the $100 million deal is the largest industry research partnership in the school’s history.
Foxconn is the world’s leading electronics manufacturer. It chose Wisconsin for its first plant outside of Asia after receiving generous incentives from the state. Foxconn says the plant could cost up to $10 billion and eventually employ 13,000 people.
Leaders of Foxconn Technology Group and the University of Wisconsin-Madison are planning to make what they call a “major announcement” on campus Monday.
Foxconn’s CEO Terry Gou was to join with UW-Madison Chancellor Rebecca Blank for the announcement at the Wisconsin Institute for Discovery.
Foxconn is developing a site in southeast Wisconsin for a display screen factory and campus. But it’s also talked about opening a medical manufacturing facility and met with UW officials to discuss that possibility.
Foxconn leaders also previously met with officials at UW-Madison’s Carbone Cancer Center.
Foxconn’s Gou has supported cancer research in Asia. Both his first wife and his younger brother died of cancer.