Foxconn gets approval for 569 million dollar Wisconsin investment

Major Expansion Set to Create Nearly 1,400 New Jobs

Foxconn, the world’s largest electronics manufacturing service provider, has secured approval for a significant new investment of $569 million into its Wisconsin operations, according to a recent announcement from the Wisconsin Economic Development Corporation (WEDC)^[1][3][5]. This expansion in Racine County is expected to generate 1,374 new jobs over the next four years.

Enhanced State Support and Incentives

The WEDC Board of Directors recently approved a contract amendment offering up to $16 million in additional performance-based tax incentives to Foxconn. The agreement is designed to reward Foxconn for meeting job creation and investment targets as part of the company’s broader expansion plan^[1][5].

When combined with previous agreements, the total commitment now reaches $1.2 billion in capital investments and more than 2,600 jobs created during the project period^[3].

Strengthening U.S. Technological Capabilities and Supply Chains

Foxconn states the expansion allows it to meet increasing demand from U.S. customers and to bolster domestic supply chains, especially for innovations in data management and emerging next-generation technologies. The move aligns with industry trends towards enhancing the resilience and scale of U.S. manufacturing operations^[1][3].

Leadership Perspectives on the Project

Sam Rikkers, Deputy Secretary and Chief Operating Officer at WEDC, commented, "This new amendment reflects Foxconn’s status as one of the many leading global manufacturers that have chosen to grow in Wisconsin."^[1]

Jerry Hsiao, Foxconn’s Chief Product Officer, emphasized Wisconsin's growing significance for the company: “Wisconsin accounts for close to a fourth of our workforce in America, and this second-stage project will double that presence in the state by the end of this decade.”^[1]

Background: Continued Evolution of Foxconn's Wisconsin Plans

Foxconn’s Wisconsin presence has been the subject of national attention since it originally pledged to invest $10 billion in a manufacturing campus in Mount Pleasant in 2017. While the original scope of that project evolved over time^[7], this new commitment signals an ongoing partnership between the company and the state, focused on innovation and job creation.

Key Facts About Foxconn's New Wisconsin Investment

• $569 million new investment in Racine County
• 1,374 new jobs expected over four years
• Up to $16 million in additional state tax incentives tied to performance targets
• Project supports U.S. data infrastructure and technological innovation needs
• $1.2 billion total capital investment and more than 2,600 jobs expected during the current contract period
Foxconn’s Wisconsin presence has been the subject of national attention since it originally pledged to invest $10 billion in a manufacturing campus in Mount Pleasant in 2017. While the original scope of that project evolved over time^[7], this new commitment signals an ongoing partnership between the company and the state, focused on innovation and job creation. Foxconn’s Wisconsin presence has been the subject of national attention since it originally pledged to invest $10 billion in a manufacturing campus in Mount Pleasant in 2017. While the original scope of that project evolved over time^[7], this new commitment signals an ongoing partnership between the company and the state, focused on innovation and job creation.