President Donald Trump will announce Wednesday that Apple-supplier Foxconn Technology Group will open a new factory in Wisconsin.
The Taiwan-based electronics manufacturer was one of the first companies to announce a plan to invest billions to create jobs in America following the Trump’s election. The company said it planned to invest billions in U.S. manufacturing just one month after Trump was elected.
News of that the plant would be based in Wisconsin was first reported by CNBC’s Scott Cohn. It has been confirmed by several media reports, including Breitbart News.
The president is expected to be accompanied by White House chief of staff Reince Preibus, who was raised in Wisconsin, and House Speaker Paul Ryan, in whose district the factory will be opened, according to people familiar with the matter. Ryan lobbied Trump and the White House to help bring the plant to Wisconsin. Officials from several other midwestern states were also attempting to secure the plant.
Foxconn chairman Terry Gou is also expected to join Trump at the White House for the announcement.
Foxconn is expected to initially invest $10 billion in the plant, which will employ around 3,000 workers. It is expected to expand over the next few years and bring on new workers. Foxconn expects to build flat-panel screens at the new plant.
Many other states were vying for the new plant, including Michigan, Ohio, Pennsylvania, Texas, Illinois, and Indiana. The decision to build the plant in Wisconsin is a significant win for Ryan and Preibus.
Foxxconn will likely benefit from a sizable tax incentive package to assist in building the factory. The Milwaukee Journal-Sentinel has reported that these could total as much as $3 billion.
Foxconn is the world’s largest contract electronics maker, manufacturing components for Apple’s iPhone and other technology brands. It operates vast factories in China but has not previously had a large presence in the U.S.
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