Foxconn, the world’s largest electronics manufacturer, last week signed a contract with the State of Wisconsin to build a brand-new, 22-million-square-foot manufacturing campus in Racine County. In return for meeting capital investment and job creation targets, Foxconn will receive up to $2.85 billion in performance-based tax credits over the course of the next 15 years.
The project is expected to create more than 13,000 jobs, more than 10,000 construction jobs and tens of thousands of indirect jobs, making it the largest corporate attraction project in U.S. history as measured by job creation. This is by far the largest economic development project ever in Wisconsin, and is the largest greenfield investment by a foreign-based company in U.S. history.
Read more from WEDC here.