A senior White House official confirmed July 26 afternoon that Taiwanese electronics manufacturer Foxconn Technology Group will invest $10 billion and create 3,000 jobs in Wisconsin as part of a plan to build a manufacturing plant to make liquid-crystal-display screens, the type used in everything from computers to vehicle dash panels.
It was the first of what are expected to be multiple announcements by Foxconn about future U.S. projects, the official said.
A press event on the Foxconn project is slated for 5 p.m. Eastern time.
Eventually, Foxconn plans to name multiple investments in multiple locations, likely in two or more states, three officials close the negotiations confirmed to Crain's Detroit Business. One of them could be Michigan. Crain's Detroit Business is a sister publication of Plastics News.
An invitation to President Donald Trump's 5 p.m. news conference with Wisconsin officials says Foxconn will build a LCD panel plant in Wisconsin, the Associated Press reported. The AP obtained the invitation from a person with knowledge of the event at the White House. The person doesn't have authorization to publicly release the information.
White House spokesman Josh Raffel confirmed the Trump announcement would be on Foxconn, but he would not release details ahead of the event.
Wisconsin Gov. Scott Walker tweeted earlier Wednesday that there would be a "major jobs announcement for Wisconsin" at the White House with the president.
News of the Wisconsin deal is expected the same day Michigan Gov. Rick Snyder signed a $200 million tax incentive package geared toward companies that add hundreds or thousands of jobs.
The talks with Foxconn for plant in Michigan, likely geared toward automotive, have advanced to discussing permitting from the state Department of Economic Quality, jobs training with local community colleges and worker transportation for a site in Romulus, sources said.
"The absolute critical factor is the workforce," another source familiar with the deal told Crain's. "With [low] unemployment rates and talent demands, placing a new tech facility anywhere is so dependent on the ready, trainable and available workforce."
The $7 billion investment in the United States could employ 20,000, but any announcement beyond Wisconsin is still several weeks away, the source said.
Tax incentives appear to be the driving factor in Foxconn's decision, as Ohio and Wisconsin have reportedly created incentive packages explicitly catering to Foxconn's needs. The taxpayer-funded package could exceed $1 billion in Wisconsin, the Milwaukee Journal Sentinel reported this week.