Taiwanese electronics company Foxconn Technology (FXCOF) will announce plans for a Wisconsin plant at 5 p.m. Wednesday, accompanied by President Donald Trump and Wisconsin Governor Scott Walker, CNBC reported.
Foxconn is a supplier for Apple Inc (AAPL) - Get Report displays. The company recently announced plans to significantly expand its operations in the U.S. After reportedly considering seven states for a new manufacturing center, Foxconn settled on Wisconsin.
Although unemployment is near record lows in Wisconsin, the state is said to have prepared offers as incentive for the company to choose the state over other options. There could be as many as 10,000 jobs added to the area with the addition of the plant.
Foxconn stock closed down in Taiwan Wednesday.
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