Foxconn to build new state-of-the-art facility, add more than 13,000 jobs in Wisconsin
Foxconn, the world’s largest electronics manufacturer, last week signed a contract with the State of Wisconsin to build a brand-new, 22-million-square-foot manufacturing campus in Racine County. In return for meeting capital investment and job creation targets, Foxconn will receive up to $2.85 billion in performance-based tax credits over the course of the next 15 years.
The project is expected to create more than 13,000 jobs, more than 10,000 construction jobs and tens of thousands of indirect jobs, making it the largest corporate attraction project in U.S. history as measured by job creation. This is by far the largest economic development project ever in Wisconsin, and is the largest greenfield investment by a foreign-based company in U.S. history.
“With this contract in place, Foxconn will now move forward with creating a campus that will truly transform Wisconsin’s economy and will have positive ripple effects in every region of the state,” said Governor Scott Walker.
The Foxconn campus, large enough to hold 13 Lambeau Fields, will be located on approximately 1,200 acres of land near I-94 in the Racine County village of Mount Pleasant. State-of-the-art liquid crystal display (LCD) screens will primarily be manufactured at the site. LCD screens are used in numerous applications including aircraft systems, self-driving cars, health care devices and surveillance equipment. This will be the first LCD factory of any kind in North America.
“We thank Wisconsin Governor Scott Walker and the Wisconsin Economic Development Corporation for their partnership, which will enable us to build a state-of-the-art display fabrication plant in Wisconsin and create a robust 8K+5G ecosystem in the United States,” said Foxconn founder and CEO Terry Gou. “We look forward to being a part of the community and contributing to its economic transformation. We will do so while ensuring that the very things that attracted us to Wisconsin–its talented and hardworking workforce, long track record in advanced manufacturing, favorable quality of life and environment–are protected and nurtured.”
“After months of working closely with the Foxconn team, we have negotiated a contract that gives the company the flexibility and incentives it needs to be successful while also providing Wisconsin taxpayers with a high level of certainty that their investment will be protected,” said WEDC Secretary and CEO Mark R. Hogan. “Foxconn’s presence in Wisconsin will mean new opportunities for the state’s workforce, businesses and entrepreneurs.”
For more information on Foxconn and its development in Wisconsin, visit InWisconsin.com.