Taiwanese electronics giant Foxconn is finalizing plans to bring a manufacturing plant to the United States. While it seems certain the plant will be announced to be built in Wisconsin, other states had lobbied strenuously for the company to base in their state.
The company is expected to announce a manufacturing facility at an event in Washington D.C. Sources close to the matter say the announcement could be made as soon as this week.
Wisconsin is said to be the location of choice, but it has yet to be confirmed. Indeed, some reports point to Detroit as a possible base. Once a vital element of manufacturing in the United States, Detroit has been in decline for decades and would benefit from the plant.
That said, numerous states are said to have lobbied Foxconn in a bid to woo the company. Each wants to land a major economic cash cow that officials claim is a once in a generation event. Foxconn would bring job security and potential for expansion.
The company is said to be pushing towards a major plant that will create 5,000 jobs just in the facility. Thousands more positions could be developed through other U.S. operations.
Foxconn is noted for being Apple’s chief supplier of iPhone and iPad parts. However, the company also builds components and constructs thousands of other devices. The plant be focused on producing display panels for large-screen products.
While the company has yet to confirm its plans, it is known investment in the U.S. is imminent. Last month, Foxconn chairman Terry Gou said the company would invest at least $10 billion in seven states: Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana, and Texas.
The Wisconsin display facility will be the main focus of investment and will cost $7 billion. Apple has expressed an interest in investment and could bring iPhone manufacturing to the U.S. in the future.
At the moment, the factory will focus on large displays with Japanese company Sharp. Foxconn acquired the electronics giant last year.