Investment to transform Racine County’s economic landscape; establish Wisconsin as the electronics manufacturing capital of North America
MOUNT PLEASANT, WIS. – Racine County Executive Jonathan Delagrave, Village of Mount Pleasant President Dave DeGroot, representatives of the Racine County Economic Development Corporation (RCEDC), Milwaukee 7, and Foxconn today announced the Village of Mount Pleasant in Racine County as the future home of Foxconn’s state-of-the-art advanced display manufacturing campus.
“Racine County offers a talented, hardworking workforce, and presents an extraordinary opportunity for Foxconn. We look forward to working with leaders in the region to build a state-of-the-art advanced display manufacturing campus and lay the groundwork for economic success together,” said Louis Woo, Foxconn Special Assistant to the Chairman and CEO of Foxconn.
Foxconn Technology Group (Foxconn), the world’s largest electronics manufacturing services provider, will invest an estimated $10 billion to construct its Mount Pleasant campus, which will be located off of Interstate 94 between Highway 11 and Highway KR. The manufacturing campus will be approximately 20 million square feet – by far the largest project in the state, and one of the largest manufacturing campuses in the world.
The Mount Pleasant campus will be the first in a series of world-class manufacturing facilities Foxconn will be building in the United States to create a robust 8K+5G ecosystem to meet future needs for the latest in display technology components. The new campus will consist of a multi-billion dollar thin-film transistor (TFT) liquid crystal display (LCD) plant, a facility to back-end package liquid crystal display modules (LCM), a skill-intensive facility focused on molding and tool and die processes, and an end-set assembly operation to produce end-device units.
Foxconn technology will be on display at a product showcase at the iMET Center in Sturtevant from 2:00 – 7:00 PM on Wednesday, October 4 and 10:00 AM to 7:00 PM on Thursday, October 5.
“We are thrilled that an international company of Foxconn’s magnitude has recognized the opportunities available in Racine County,” said County Executive Jonathan Delagrave. “Foxconn has committed to an unprecedented investment in our community and it will establish the foundation for unparalleled economic development, job growth and enhanced quality of life for current and future County residents.”
Foxconn is expected to hire thousands of new employees with an average salary of $53,000. An additional 150 suppliers are anticipated to locate in Wisconsin, bringing even more jobs and a new tax base.
“The impact of this investment on our community is unprecedented and the opportunity enormous,” said Village President Dave DeGroot. “It will transform our region, creating thousands of new jobs for Racine County.”
CAREFUL AND CONSERVATIVE LOCAL INVESTMENT PACKAGE
Racine County has never before had an enormous opportunity like the Foxconn project. It will fundamentally reshape the area’s economy and workforce.
“Now is the time for us to invest in ourselves to maximize this opportunity,” said Delagrave. “We must invest in and build upon our assets, including our location within the Chicago-Milwaukee Corridor, our availability of land, and our access to a top-notch workforce.”
A development of this magnitude will need access to significant public infrastructure, including water and sanitary sewer services, roadway improvements, electric and natural gas services and the addition of fiber optic lines to the site.
“The Village of Mount Pleasant and Racine County have been hard at work to craft a well thought-out, careful, and conservative local incentive package,“ said Claude Lois, Project Director for Mount Pleasant. “We are committed to balancing the need to attract this long-term investment, while maintaining our commitment to local taxpayers.”
Elected officials will be holding information sessions around the community to discuss related public infrastructure improvements and local financing options for the project:
· October 11 from 4:30 – 6:30 PM at Mount Pleasant Village Hall
· October 12 from 5:00 – 7:00 PM at Memorial Hall in the City of Racine
· October 24 from 5:00 – 7:00 PM at Veteran’s Terrance in Burlington
FOXCONN IS ONLY THE START
Foxconn’s investment in Racine County represents the largest economic development project in Wisconsin history and the largest corporate attraction project in U.S. history, as measured by jobs. Local leaders believe it is merely the first of many major investments in the area.
“Today’s announcement is only the start,” said Jenny Trick, Executive Director of Racine County Economic Development Corporation (RCEDC). “This is the launching point for future investments in Racine County that will improve the quality of life for local residents and create new opportunities for the entire region.”
ABOUT THE PROJECT
Foxconn is investing an estimated $10 billion in Mount Pleasant, in the heart of Racine County, Wisconsin to create North America’s first liquid crystal display (LCD) manufacturing facility. The Foxconn manufacturing campus will be approximately 20 million sq. ft. — by far the largest project in the state and one of the largest manufacturing campuses in the world. The investment represents the return of electronics manufacturing to the U.S. from Asia. Foxconn’s investment will change the economic landscape in Racine County and Wisconsin and establish the state as the electronics manufacturing capital of North America. To learn more about the Racine County Foxconn project, visit http://www.
Racine County is located on the shores of Lake Michigan, conveniently situated between Milwaukee and Chicago. The county boasts lakefront beaches and gently rolling hills, vibrant urban areas and peaceful rural retreats. World-renowned businesses like SC Johnson, Twin Disc, Runzheimers, and InSinkErator; first-class amenities like Reefpoint Marina, Racine Zoo, and Racine Art Museum; and nearly 200,000 diverse and welcoming residents all call Racine County home. From Burlington to the City of Racine, and the 15 communities in between, Racine County has something to offer everyone. Learn more at www.RacineCounty.com.
ABOUT THE VILLAGE OF MOUNT PLEASANT
The Village of Mount Pleasant is a community that prides itself in one of its greatest assets – location. Comprising of 36 square miles in Eastern Racine County, Mount Pleasant is one of the fastest growing communities in the State of Wisconsin. Stretching from Lake Michigan to Interstate 94, their location provides easy access to metropolitan Milwaukee and Chicago, including Mitchell International Airport just minutes to the north. Mount Pleasant also offers a wide variety of business opportunities. Numerous local, national, and international companies call Mount Pleasant home, including Putzmeister, Case New Holland, SC Johnson, Diversey, Seda Packaging, Badger Meter, and many others. Companies are also consistently expressing interest in the community and the area as a whole. This interest in development, despite the economic conditions both nationally and worldwide, has allowed the Village to see consistent growth providing additional jobs and amenities for residents. Learn more at http://www.mtpleasantwi.
ABOUT RACINE COUNTY ECONOMIC DEVELOPMENT COPORATION
The Racine County Economic Development Corporation (RCEDC) and its partners provide Racine County Wisconsin businesses with almost every service needed to complete an expansion, relocation, financing, or workforce development project. RCEDC’s dedicated staff is committed to meeting the needs of Racine County businesses and companies interested in expanding or locating in the Chicago-Milwaukee Corridor. To learn more, visit: http://racinecountyedc.
Foxconn Technology Group is the global leader in manufacturing services for the computer, communication and consumer electronics (3C) industry. Headquartered in Taiwan, Foxconn helps build products for many of the leading U.S. and international brands and household names in electronics. Foxconn also contributes to the development of a vibrant global 8K-5G ecosystem, which is supported by the company’s vertically integrated “silicon to solution” portfolio and supply chain, to deliver intelligent display technology and solutions for use in all aspects of smart lives.
Foxconn also is a leader in research and development, focusing on the fields of nanotechnology, heat transfer, wireless connectivity, material sciences, and green manufacturing process. The company has several research centers and testing laboratories and has received more than 55,000 patents worldwide.
Foxconn generated total annual revenue of $135 billion in 2016 and was ranked No. 27 on the 2017 Fortune magazine Global 500. The company has facilities in Asia, Europe, and Latin America. It’s Racine County facility will be its first significant investment in the U.S.