LOUISVILLE, Ky. (WDRB) – A multinational Taiwanese electronics maker is eying Louisville for a $174 million manufacturing facility, according to state documents.
Foxconn Technology USA Corp. got preliminary approval for project incentives at a meeting of the Kentucky Economic Development Finance Authority last week.
Foxconn, which ranked No. 32 on last year’s Fortune Global 500 and touts itself as the world’s largest electronics manufacturer, did not immediately respond to a request for comment.
Jeff Noel, Kentucky’s economic development secretary, told WDRB News in an interview that the state approval allows the company to start its due diligence.
“This is an extraordinary first step with a great company,” Noel said after an event Thursday at Louisville Gardens. “And we’ve still got work to do.”
Noel said he’s met with Foxconn officials twice in Taiwan in recent years and credited Gov. Andy Beshear with helping “move it forward.”
Documents reviewed by the KEDFA board indicate Foxconn would lease a facility in Jefferson County and create 180 jobs that pay $38.61 per hour, including benefits.
The company "specializes in delivering high-quality components and fully assembled products to industries ranging from consumer electronics to industrial applications," according to the state report.
Asked about potential locations, Noel said that’s part of the work Foxconn will be doing. “It’s all part of a process, and we’ll look forward to working with the company and providing even much more information," he said.
The financial package under consideration deals with tax credits and wage assessments. It would give Foxconn up to $3.4 million in incentives over 10 years, in addition to sales and use tax rebates of $600,000.
Foxconn has 233 factories and offices in 24 countries, including ones listed in Indiana and Ohio, according to its website. The company reportedly makes 70% of Apple’s iPhones and also assembles products for tech giants Amazon and Microsoft.
A much-watched Foxconn factory announced for Wisconsin in 2017 failed to materialize, according to media accounts. That proposal called for a $10 billion facility that would employ 13,000 people, CNBC reported last year.
A 2020 WDRB story on economic development incentives discussed “Wisconsin’s widely criticized $4 billion subsidy” for the Foxconn plant proposed there.
This story may be updated.
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