Plans revealed for manufacturing plant in Louisville
Taiwanese multinational electronics maker Foxconn has its eye on Louisville for a new manufacturing facility and has received preliminary approval from the Kentucky Economic Development Finance Authority (KEDFA) for project incentives.
According to state documents, Foxconn Technology USA Corp. is seeking a $174 million manufacturing facility. As Kentucky’s economic development secretary Jeff Noel explained to WDRB News the state approval clears the way for the company to further explore that goal. Noel explained:
The 2024 Fortune Global 500 ranked Foxconn, which is the self-proclaimed world’s largest electronics manufacturer, at No. 32. The company maintains 233 factories and offices across 24 countries including, according to the Foxconn website, ones in Ohio and Indiana.
The addition of a manufacturing facility has the potential to boost a city’s economy in a variety of ways including providing multiple points of sale for local print shops.
Information the KEDFA board gleaned from documents it reviewed point to Foxconn likely leasing a Jefferson County facility where they would employ 180 workers at a starting pay of $38.61 per hour plus benefits. Should the financial package being considered be approved Foxconn will receive up to $3.4 million over 10 years in incentives as well as $600,000 in rebates for sales and use taxes.
Foxconn reportedly assembles products for Microsoft and Amazon and makes 70 percent of Apple’s iPhones.
According to state documents, Foxconn Technology USA Corp. is seeking a $174 million manufacturing facility. As Kentucky’s economic development secretary Jeff Noel explained to WDRB News the state approval clears the way for the company to further explore that goal. Noel explained:
“This is an extraordinary first step with a great company. And we’ve still got work to do.”
The 2024 Fortune Global 500 ranked Foxconn, which is the self-proclaimed world’s largest electronics manufacturer, at No. 32. The company maintains 233 factories and offices across 24 countries including, according to the Foxconn website, ones in Ohio and Indiana.
The addition of a manufacturing facility has the potential to boost a city’s economy in a variety of ways including providing multiple points of sale for local print shops.
Information the KEDFA board gleaned from documents it reviewed point to Foxconn likely leasing a Jefferson County facility where they would employ 180 workers at a starting pay of $38.61 per hour plus benefits. Should the financial package being considered be approved Foxconn will receive up to $3.4 million over 10 years in incentives as well as $600,000 in rebates for sales and use taxes.
Foxconn reportedly assembles products for Microsoft and Amazon and makes 70 percent of Apple’s iPhones.