Company to purchase six-story building and space at Haymarket Landing to grow footprint of its Wisconn Valley technology and talent hub across west-central Wisconsin
Eau Claire, WI. July 16, 2018– Foxconn Technology Group announced Monday that the company is purchasing two properties in downtown Eau Claire for its Foxconn Place Chippewa Valley, a technology hub that will serve west-central Wisconsin, and that will also house its Wisconn Valley Innovation Center.
In a move aimed at spurring innovation, attracting talent and connecting with regional supply chain partners, Foxconn has reached agreements to purchase The Grand, a six-story office building, and the majority of the first floor at the Haymarket Landing building. The company plans to create at least 150 high-tech jobs as part of the project.
“Once again, we’re seeing how Foxconn’s historic investment in Wisconsin is impacting every region of the state as the company makes yet another commitment to both create jobs and support our entrepreneurs and innovators,” said Governor Scott Walker, who joined company officials in making the announcement in Eau Claire.. “This is another example of the ‘Foxconn Bonus’ that goes well beyond the company’s $10 billion advanced manufacturing campus in Racine County.”
“We are excited to expand our Wisconn Valley footprint to the Chippewa Valley and west-central Wisconsin,” said Alan Yeung, Foxconn’s Director of U.S. Strategic Initiatives, who joined the governor in making the announcement Monday. “Our goal in establishing Foxconn Place Chippewa Valley is to help inspire innovative ideas, attract talent and catalyze cutting-edge solutions from companies and entrepreneurs in this part of the state.”
“Foxconn’s investment in the Chippewa Valley is great news for the region and the entire state as the company continues to demonstrate how its presence in Wisconsin will truly be transformational,” added Mark R. Hogan, secretary and CEO of the Wisconsin Economic Development Corporation, who also took part in the announcement Monday. “From the day Foxconn announced it had chosen Wisconsin as the site for its campus, we have talked about the ripple effect that decision would have throughout the state. Today we are again experiencing that ripple effect here in west-central Wisconsin.”
Foxconn has reached a definitive agreement to acquire The Grand, a 43,000-square-foot building at 204 E. Grand Ave. that was constructed in 1929 and is recognized as a prominent part of Eau Claire’s business district. It has been used by various local financial institutions and most recently was occupied by Wells Fargo and various tenants until 2016.
The company also is purchasing about 15,000 square feet of space at Haymarket Landing, which is part of the Confluence Project and a major public-private partnership aimed at redeveloping the center of downtown Eau Claire and its riverfront. Foxconn will occupy almost all of the first floor of the building at 220 Eau Claire St
Foxconn Place Chippewa Valley and Wisconn Valley Innovation Center will accelerate development of the company’s AI 8K+5G ecosystem and expand the ever-growing footprint of the company’s Wisconn Valley technology hub. It also will serve as a way for the company to attract talent, connect with potential supply chain providers and align with potential partners.
Foxconn Place will extend the reach of Foxconn’s Wisconn Valley Science and Technology Park in Racine County and its innovation centers in Milwaukee and Green Bay by helping to cultivate a new class of providers for advanced manufacturing processes and technologies in industries including education, medical and healthcare, entertainment and sports and security. Together, these facilities will be cornerstones in the AI 8K+5G ecosystem that Foxconn is building, and contribute to Wisconsin’s transformation into a global technology hub.
While Foxconn Place Chippewa Valley will be located in Eau Claire, the facility will benefit the entire region, said Steve Jahn, executive director of Momentum West, the regional economic development organization encompassing 10 counties in west-central Wisconsin.
“Although we are early in the process of Foxconn’s development in the state, the company’s commitment to the state as a whole is evident with today’s announcement,” said Jahn, who also took part in Monday’s announcement. “We look forward to additional opportunities for business and industry in the Momentum West region of west-central Wisconsin to capitalize on the addition of Foxconn to the state.”
James Schmidt, chancellor of the University of Wisconsin-Eau Claire, added that Foxconn’s presence will provide significant opportunities for collaboration for students and faculty.
“Eau Claire is a great place for Foxconn’s newest innovation center— and Haymarket Landing, one of many UW-Eau Claire innovative partnerships and student residences, provides a vibrant hub for students, faculty and Foxconn employees to connect and create together,” said Chancellor Schmidt, who attended Monday’s event. “UW-Eau Claire has long been an economic driver for western Wisconsin, providing talented graduates in everything from health care to high-tech. We are excited to be a partner with Foxconn in exploring together a ‘smart future’ for the Chippewa Valley and for Wisconsin.”
Monday’s announcement comes less than three weeks after Foxconn and Governor Walker announced plans for a similar Foxconn Place along the Fox River in downtown Green Bay that will create at least 200 high-tech jobs.
Foxconn is building a $10 billion advanced manufacturing campus in Mount Pleasant that is expected to create up to 13,000 direct and 22,000 indirect jobs, as well as thousands of construction jobs. Once the Wisconn Valley Science and Technology Park is fully operational, Foxconn is expected to make $4.26 billion in supplier purchases annually with roughly one-third being sourced from Wisconsin. The project is expected to have at least a $7 billion annual economic impact on the state and generate between $116 and $157 million in state tax revenue annually once fully operational.
Foxconn’s “Wisconsin First” approach already is creating jobs throughout the state. Foxconn has awarded more than 20 contracts for initial site excavation work and an additional eight contracts for construction of a multipurpose building to Wisconsin-based subcontractors for work on the site of Wisconn Valley Science and Technology Park.