Watch Live Stream: Donald Trump Makes Foxconn Announcement

RACINE COUNTY, WI — President Donald Trump is going live at 5 p.m. EDT (4 p.m. local time) Wednesday to make a jobs announcement widely rumored to be the news that iPhone manufacturer Foxconn is planning to build a plant in Racine County - and bringing 10,000 new jobs with it.

You can watch this announcement live from Washington D.C. here:

According to a CNBC report released today, Apple-supplier Foxconn is expected to make the announcement Wednesday evening, accompanied by President Donald Trump, Wisconsin Gov. Scott Walker, a source with knowledge of the announcement told CNBC. Speaker Paul Ryan is also expected to be there.

Massive Incentives Speculated

According to a Journal Sentinel article, financial incentives for Foxconn are expected to well-exceed $1 billion via a combination of local, state and federal incentives. According to their calculations, if the deal cost $1 billion and the company created 10,000 jobs, the government would spend $100,000 per job.

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Foxconn looking for 1,000 acres in Racine County

According to an earlier Patch.com report, right-to-work Wisconsin has a manufacturing incentive that provides a dollar-for-dollar tax credit equal to 7.5 percent of reported income, nearly eliminating all corporate tax liability. Like some other states, it struggles to provide enough trained workers for available jobs.

It Started With Trip to Kenosha

In an interview outside the White House, Trump chief of staff Reince Priebus told WTMJ-TV the conversations with the president about Foxconn “started when he went to Snap-On in Kenosha.” That trip came in April.

Walker flew to Japan in early June but has not publicly stated the reason for the trip. Foxconn has publicly stated they are considering spending $4 billion on a U.S. factory.

(image via wikimedia creative commons)