Foxconn Land Announcement Wednesday

STURTEVANT, WI — Racine County leaders and representatives of Foxconn Technology Group will announce the site selected for the company’s $10 billion, 20-million-square-foot, state-of-the-art advanced display manufacturing campus on Wednesday.

The announcement will come at 11 a.m. at the S.C. Johnson iMet Center located at 2320 Renaissance Blvd. in Sturtevant.

Foxconn’s investment in Racine County represents the largest economic development project in Wisconsin history and the largest greenfield investment project in U.S. history, as measured by jobs.

According to Racine County officials, the company is expected to hire thousands of new employees with an average salary of $53,000. Additionally, a significant number of suppliers are expected to move to and grow within the state, creating even more jobs and new tax base.

Racine's Potential Sales Tax

The details of Racine's incentive package have yet to be released. It stands to reason, however, that if Kenosha's $291.3 million incentive package failed to lure the company to their county, that Racine's incentive package will contain some significant figures as well.

M.T. Boyle, Racine County chief of staff, issued a statement on ongoing negotiations:
“Racine County is carefully evaluating numerous funding options to support the once-in-a-generation investment being considered by Foxconn and the unprecedented benefits that investment would bring to Racine County residents. At this preliminary stage of exploration, it would be premature to comment on specifics. However, it is important to note that as we consider all of our options, we will continue to maintain our commitment to fiscal conservatism and to ensuring the best deal for county taxpayers.”

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