Foxconn acquires 20 acres near its Mount Pleasant complex. No plans have surfaced yet for the lots

From JSOnline:

Tom Daykin

Milwaukee Journal Sentinel

A Foxconn Technology Group affiliate has acquired 20 acres of undeveloped land near its Mount Pleasant complex.

The parcels, at 4529 U.S. Highway 41, 13027 Braun Road and 10640 W. Prairie View Drive, were recently transferred from the Village of Mount Pleasant to Fewi Development Corp., according to a deed posted online by the Wisconsin Department of Revenue.

The transaction is valued at just under $4.9 million.

The lots were acquired by the village as it was assembling the site for Foxconn. Their transfer to the company's ownership was made under the development agreement between the village and Foxconn, said Sean Ryan, village communications director.

"The company recently requested title to these properties that were owned by the Village, and the Village transferred the properties to the company," Ryan said, in a statement.

There are no pending development proposals under village review for the properties, Ryan said.

Foxconn declined to comment on its plans for the parcels.

Then-Gov. Scott Walker and Taiwan-based Foxconn in 2017 agreed to a $2.85 billion tax incentive package ― including state and local funds ― if the company met annual hiring and capital investment goals.

Foxconn promised to bring 13,000 high-tech jobs to Wisconsin and create a massive large-screen LCD manufacturing facility in Mount Pleasant.

But those plans failed to materialize, and Foxconn instead shifted to contract manufacturing.

A 2021 renegotiated agreement under Gov. Tony Evers' administration allows the company to receive up to $80 million in state tax credits through 2025.

In return, the job target was reduced from 13,000 to 1,454, and Foxconn's estimated capital investment was cut from $10 billion to $672 million.

The company so far has received tax credits totaling $52.5 million since 2000, according to the Wisconsin Economic Development Corp., a state agency.

Meanwhile, much of the land planned for Foxconn has since been sold to Microsoft Corp. for its data center campus.

Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram,Bluesky, X and Facebook.

From: https://www.jsonline.com/story/money/real-estate/commercial/2025/01/06/taiwan-based-foxconn-acquires-20-acres-near-its-racine-county-complex/77437805007/