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Foxconn Announces Plans for $569 Expansion in Racine County
- On Tuesday, Foxconn announced a $569 million expansion at its Racine County plant to build artificial intelligence servers, adding nearly 1,400 jobs over the next four years, Foxconn said.
- The Wisconsin Economic Development Corporation approved a contract amendment providing up to $16 million in performance-based tax incentives, making Foxconn eligible for $569 MILLION in EITMZ credits through Dec. 31, 2029.
- Foxconn currently employs 1,200 people at its Mount Pleasant site, near where Microsoft is building two large data centers in Racine County.
- Under the amended contract, WEDC projects the moves will create 1,374 new jobs by 2029, with Foxconn expected to generate 2,616 total jobs and invest $1.2 billion in capital.
- Once in 2017 Foxconn pledged 13,000 jobs, but the Taiwanese tech company said the expansion responds to rising U.S. customer demand and strengthens domestic supply chains for data management and infrastructure.
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Foxconn to invest US$569 million in Wisconsin operations
The Hon Hai Technology Group is planning to invest an additional US$569 million in Wisconsin to expand its operations in the U.S. state and deepen its work in artificial intelligence (AI) infrastructure, the company said Wednesday.
·Taiwan
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Coverage Details
Total News Sources23
Leaning Left2Leaning Right0Center9Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
L 18%
C 82%
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