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Foxconn Technology Group, which assembles Apple’s iconic iPhones, is to open an electronics factory with an investment of $10 billion in the U.S. state of Wisconsin, Terry Gou, chairman of Foxconn, announced at a press conference held in the White House on July 26, China News reported.

U.S. President Donald Trump expressed his gratitude at the press conference, saying that the investment means a lot to the U.S. manufacturing industry.

According to Fox News, Gou planned to invest at least $7 billion in the U.S. and to create nearly 5,000 job opportunities soon after Donald Trump’s election as the U.S. president. If the investment plan is achieved, it will be a great action in reviving the U.S. manufacturing industry.

Foxconn’s chairman called the project, which should be complete in 2020, a win-win strategy.

There is still space for the development and production of 8K display panels in the U.S., which provided an opportunity for Foxconn to enter the U.S. market. On the other hand, up to 13,000 jobs will be created for high-skilled persons in the U.S., which is what the Trump administration wants.

Foxconn, a group from Taiwan, China, is one of the world’s largest electronic product manufacturers, with 1 million employees in Asia, Europe, and America. It produces goods for many U.S. tech companies, including Apple, Amazon, Google, and Microsoft, and it plans to open factories in Virginia and Indiana of the U.S., creating some 2,000 jobs.