Foxconn Technology (FXCOF) is said to be nearing a deal to build a production facility in Wisconsin or Detroit, MI, the Wall Street Journal reported.
The Taiwanese company, which manufactures parts for Apple Inc (AAPL) - Get Report , will likely build display panels for televisions in a Wisconsin plant. Insiders said a Detroit plant is also under consideration, but it's unclear what that plant would manufacture.
Foxconn has publicly said it wants to invest $10 billion in U.S. plants to make flat-panel screens and other related products. A final decision hasn't been made, but the company is contemplating an event in Washington, D.C., or Wisconsin to announce a decision as soon as this week.
Foxconn stock closed up in Taiwan Monday.
More of What's Trending on TheStreet:
- Walmart in Focus Amid 'Horrific' Human Trafficking Incident in Texas That Causes Nine Deaths
- Scaramucci Has Been Waiting For A White House Gig For A While
- Chipotle Is Doomed Unless It Takes This One Dramatic Measure
- Trump Just Resurrected the Ugly Practice Known as Civil Forfeiture for No Reason
- Billionaire Mark Cuban: The Rise of Technology Will Cause a Lot of Unemployment
- Game of Numbers: Do You Have Any Idea How Big Game of Thrones Has Become?