North Carolina Offered Foxxconn $570 Million in Incentives

Hoping to win one of the largest economic development projects in recent years, North Carolina promised tax breaks and other incentives worth more than $570 million  in an attempt to lure the Foxconn electronics plant that landed in Wisconsin. The North Carolina state documents were obtained by the Associated Press.

The 20-million-square-foot plant will produce liquid-crystal displays.

Several states were pursuing the Taiwan-based Foxxconn company. Pennsylvania, Ohio and Michigan were also in the running for the Foxconn plant. North Carolina’s package fell well sot of the $3 billion in incentives offered by Wisconsin. Area Development offered an analysis of the Foxconn incentive package.

At a White House ceremony in July, the supplier to Apple announced it had selected a site in southern Wisconsin for the plant. Economic development official said the $10 billion factory could employ 13,000 people. Wisconsin politicians last week completed their work on a $3 billion incentive package. Foxconn wanted state and local authorities to “provide offsets to all taxes levied at the state and local level,” according to the documents.

Foxconn officials visited North Carolina twice to visit sites for the plant . The is expected to open in 2020.