The Latest: Foxconn says Wisconsin first investment of many

Markets Associated Press

The Latest on electronics giant Foxconn's plans to build manufacturing facilities in the United States (all times local):

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5:10 p.m.

Foxconn says its plans to invest $10 billion in Wisconsin to build a display panel manufacturing plant is just the beginning of a series of investments in the United States in coming years.

Wisconsin beat out several other states for the plant scheduled to open in 2020 and employ 3,000 initially, with the potential to grow to 13,000.

President Donald Trump joined with Foxconn CEO Terry Gou, Wisconsin Gov. Scott Walker, House Speaker Paul Ryan and others at the White House on Wednesday to announce the deal.

Foxconn says the Wisconsin facility will manufacture liquid crystal display, or LCD, panels that can be used in televisions, self-driving cars and in a variety of other areas including health care, office automation and entertainment.

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4:56 p.m.

President Donald Trump says a Taiwan-based electronic company's plan to build a factory in Wisconsin and employ thousands wouldn't have happened if he weren't president.

Trump says the multibillion-dollar, "incredible investment" by Foxconn required its chairman to put his faith and confidence in the future of the U.S. economy.

The company is best known for assembling Apple iPhones in China.

Trump heralded the announcement during a White House ceremony where he was joined on stage by company representatives, Vice President Mike Pence, Wisconsin Gov. Scott Walker and House Speaker Paul Ryan, also of Wisconsin.

The new factory will build liquid-crystal display, or LCD, panels used in televisions and computers

Trump says the announcement makes it a great day for everyone who believes in the concept and label: "Made in the USA."

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4:15 p.m.

Wisconsin is offering $3 billion in economic incentives over 15 years if Foxconn invests $10 billion in the state and creates 13,000 jobs at a planned display panel factory.

The incentives would only be awarded if Foxconn creates the jobs and pays an average salary of nearly $54,000.

Gov. Scott Walker's office distributed details about the planned project, which he called the largest economic development investment in the history of Wisconsin.

Foxconn is evaluating multiple sites in southeast Wisconsin. But the planned facility would be operational by 2020 and cover 20 million square feet, large enough to hold 11 football fields. The entire campus is envisioned to cover nearly 1.6 square miles.

Walker says a special session of the Wisconsin Legislature will be called to pass the incentive package.

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4 p.m.

President Donald Trump is announcing that electronics giant Foxconn plans to build a $10 billion factory in Wisconsin that will employ 3,000 workers and produce the liquid-crystal display panels used in televisions and computer screens.

The Trump administration heralded the announcement Wednesday about the Taiwan-based company as a victory in its campaign to bring high-paying manufacturing jobs back to the United States.

Foxconn is perhaps best known for assembling Apple iPhones in China.

Seven states had competed for the Foxconn plant. Other states vying for the plant were Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas.

The administration said it did not help steer Foxconn to Wisconsin in what would appear to be a victory for both Trump and the state's Republican governor, Scott Walker, who is up for re-election next year.

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2:50 p.m.

News that manufacturing giant Foxconn plans to build a plant in Wisconsin is even exciting longtime Democratic critics of Republican Gov. Scott Walker.

Walker was in Washington on Wednesday for a news conference with President Donald Trump to announce the news.

Democratic Wisconsin Assembly Minority Leader Peter Barca calls it an "exciting opportunity." He says he met with Foxconn executives and that Walker's administration told him the deal could lead to 10,000 or more jobs.

Barca, like many Democrats, is voicing concern about how much taxpayers may have to contribute in tax breaks and other incentives.

Barca says, "We want to make sure it's a fair deal for everybody. We want a win-win-win."

But Democratic state Sen. Chris Larson says taxpayers have been "deceived by Walker's rose-tinted glasses before."

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10:40 a.m.

An invitation to President Donald Trump's afternoon news conference with Wisconsin officials says electronics giant Foxconn will build a liquid-crystal display panel plant in Wisconsin.

The Associated Press obtained the invitation from a person with knowledge of the Wednesday afternoon event at the White House. The person doesn't have authorization to publicly release the information.

White House spokesman Josh Raffel confirms the Trump announcement would be on Foxconn, but he wouldn't release details ahead of the event.

Other states vying for the plant are Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas. The Taiwanese company is best known as the assembler of the iPhone.

Wisconsin Gov. Scott Walker tweeted earlier Wednesday that there would be a "major jobs announcement for Wisconsin" at the White House with the president.

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9:20 a.m.

Wisconsin Gov. Scott Walker says President Donald Trump plans to make a "major jobs announcement for Wisconsin" amid speculation that electronics giant Foxconn will build a plant in the state.

Walker tweeted the statement while referring to a Wednesday afternoon news conference at the White House.

A top Republican in the state, Wisconsin Assembly Speaker Robin Vos, says he's in Washington for what he called an expected announcement from Trump about Foxconn. Vos says he had no details about the possible Foxconn deal.

Trump's official schedule lists a "jobs announcement" at 5 p.m. Eastern time.

Taiwan-based Foxconn is best known as the assembler of the iPhone. Wisconsin is among seven states, mostly in the Midwest, that the company has named as possible locations to build the its first liquid-crystal display factory that could mean tens of thousands of jobs.

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9 a.m.

Wisconsin Assembly Speaker Robin Vos is in Washington for what he says is an expected announcement from President Donald Trump about electronics giant Foxconn's plans to build a manufacturing plant.

Vos told The Associated Press he will attend a news conference late Wednesday afternoon with the president and others. Vos said he had no details about the possible Foxconn deal.

Trump's official schedule lists a "jobs announcement" at 5 p.m. Eastern time.

Taiwan-based Foxconn is best known as the assembler of the iPhone. Wisconsin is among seven states, mostly in the Midwest, that the company has named as possible locations to build the its first liquid-crystal display factory that could mean tens of thousands of jobs.

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7 a.m.

President Donald Trump plans to make a jobs announcement in Washington as anticipation builds in Wisconsin he will confirm that electronics giant Foxconn intends to open a massive factory in the state.

Trump's announcement is set for late Wednesday afternoon at the White House.

The deal could involve promises from Wisconsin to extend billions of dollars in incentives to the Taiwanese-based manufacturer. Foxconn is the biggest contract assembler of smartphones and other products for Apple and other brands.

State Sen. Alberta Darling is co-chair of the Legislature's budget committee. She said Tuesday that she had not seen the memorandum of understanding with the state, but it will come to the Legislature in the form of a bill and lawmakers will review it "with a fine-toothed comb."