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The incoming administration of President-elect Trump, who repeatedly attacked Carrier and other companies for moving jobs out of the United States, negotiated the agreement with United Technologies. Carrier, the conglomerate's heating and air conditioning brand, had planned to close the furnace plant in the state and move it to Mexico. Vice president-elect Mike Pence is Indiana's governor.
Still, United Technologies plans to close another facility in the state and move 700 jobs to Mexico. Separately, The Wall Street Journal reported that the company still plans to move another 600 jobs to Mexico from the plant that it will keep open.
In his Thursday remarks, Trump repeated a promise that companies that try to move jobs will face repercussions.
"Companies are not going to leave the United States anymore without consequences. Not going to happen. It's not going to happen, I'll tell you right now," Trump said.
Yet, Indiana agreed to give United Technologies $7 million in financial incentives over several years to persuade the industrial giant to keep the Carrier jobs in the state, Carrier said Thursday. Carrier will invest about $16 million in Indiana to keep operations there, a source with knowledge of the state's negotiations told NBC News.
In a statement Thursday, Carrier said the financial incentives are "contingent upon factors including employment, job retention and capital investment."
The company said Wednesday that state "incentives" were "an important consideration" for keeping the positions in Indiana.
Trump has cheered the deal in tweets since its announcement. On the campaign trail, he warned of consequences for United Technologies, which gets about 10 percent of its revenue from federal government contracts.
The president-elected also repeated other statements he made on the campaign trail such as slashing corporate taxes and building a wall along the U.S.-Mexico border. He also again called the North American Free Trade Agreement a "disaster."