GRAND RAPIDS, Mich. (WOOD) — Michigan is in the running for a multi-billion dollar investment by one of the world’s largest electronics maker, Foxconn.
While Foxconn is not well-known among consumers, the Taiwan-based company employs about 1 million people in China. It is the world’s largest contract manufacturer of smartphones and other devices for Apple, Sony, Blackberry and other brands, according to NBC.
Foxconn said it plans to invest more than $7 billion in a display manufacturing plant in the United States. CNBC reports the investment will be more than $10 billion. Michigan is one of several states the firm is considering, along with Wisconsin, Ohio, Pennsylvania and North Carolina, according to CNBC.
The deal could translate to as many as 50,000 jobs, Foxconn chair Terry Gou said.
Many states on Foxconn’s shortlist are scrambling to attract the investment. Earlier this month, Gov. Rick Snyder made a special trip to Taiwan with Detroit Mayor Mike Duggan, according to The Detroit News.
This would be Foxconn’s biggest investment so far in the U.S. CNBC reports Foxconn is expected to announce where it will invest next month.