RACINE COUNTY -- Vacant land south of Highway 20 in Racine County is the expected location for a rumored Foxconn facility in Wisconsin, according to TODAY'S TMJ4's partner the Milwaukee Business Journal.
The Business Journal's Sean Ryan reported Tuesday that real estate sources expect the Taiwanese manufacturer to set up shop in the "farmland east of Interstate 94, south of Highway 20 and around Durand Avenue." The sources spoke to Ryan on condition of anonymity, due to the confidential negotiations ongoing between the company and the state.
The area south of Highway 20 is in the villages of Mount Pleasant and Sturtevant, the Business Journal reports. Village boards from both communities met in a private session earlier this month to discuss the prospects of development.
Foxconn also reportedly engaged in talks with the City of Kenosha, Ryan reports.
A report in the Wall Street Journal Monday said an announcement from the electronics giant is expected later this week in Washington D.C.
Foxconn will likely get a mix of incentives for choosing Wisconsin.
"Property tax abatements, hiring tax credits, infrastructure will be part of the deal I'm sure, but ultimately water. The access to water Wisconsin has that's a commodity. I think Foxconn values this will be a very energetic intensive factory," said John Boyd of The Boyd Company, Inc.
He says the multi-billion dollar plant is also looking at Racine County's proximity to Chicago's O'Hare airport.
"Wisconsin is now in the big leagues," Boyd said.
Boyd said the state's construction industry will benefit, along with the housing market and retail.
Last week Democratic State Sen. Lena Taylor from Milwaukee said the Foxconn deal lacks transparency. She told our news partners at the Milwaukee Business Journal she worries what multi-million incentives could mean for taxpayers. She said if the company takes the incentives she wants to make sure it's held accountable.
