Foxconn set for US with $40M investment in Pennsylvania
The Chinese company will invest $30 million over two years to build a manufacturing facility, and will also drop $10 million into R&D at Carnegie Mellon.
China's Foxconn, best known for building Apple products, is bringing an operation to the US.
The company announced Thursday that it will invest $30 million over two years into a manufacturing facility in Pennsylvania. The facility, which will be in Harrisburg, will be used to develop robotic equipment. Foxconn will also invest $10 million into research and development at Carnegie Mellon University as part of the arrangement.
Bloomberg earlier reported on the investment.
According to Foxconn chief Terry Gou, the company will create 500 jobs in Pennsylvania with the facility. Foxconn has another plant in the area that accounts for 30 employees.
Foxconn has been saying for months that it plans to increase its investment in the United States. In his statement on the matter, Gou said that this buildout reflects the "renaissance" occurring in the US manufacturing sector.