Foxconn and M+W | Gilbane announced $100 million in contracts with 27 Wisconsin subcontractors and suppliers throughout the state for the first phase of site development for the Wisconn Valley Science and Technology Park in Mount Pleasant.
This announcement comes on the heels of Foxconn’s ground moving ceremony in Mount Pleasant as they prepare to start phase one of their $10 billion project.
- Foxconn and its construction manager, M+W | Gilbane in partnership with government, has created a custom economic inclusion and diversity plan to place Wisconsin first in the development and building of Foxconn’s advanced display manufacturing facilities in Mount Pleasant.
- Of the 28 initial awarded contracts, 27 are with Wisconsin Companies and 11 of those are from Racine County. In total, contracts were awarded to companies from 9 different counties, and the direct and indirect workforce for the first phase of site development in Area 1 is anticipated to come from approximately 60 Wisconsin counties.
- The contracts awarded have a total value of $100 million and site development will require 500,000 hours of work and create 800 direct and indirect jobs.
- At the peak of development, 150 pieces of heavy earth moving equipment sourced from across the state will move more than 1 million cubic yards of earth per month.
- An estimated 70,000 truckloads of aggregate, or gravel, also will be delivered to the site, primarily from New Berlin, Sussex, Waterford, and Racine.
“Today we are seeing more of the Foxconn Bonus throughout Wisconsin. It is clear that Foxconn is putting Wisconsin first with its 27 selected in-state subcontractors for Wisconn Valley Science and Technology Park’s first phase of development. It is great to see Wisconsin businesses and working families from all over our state benefitting from this historic investment.” - Governor Scott Walker
“Smart City, Smart Future”
- Foxconn will also invest over $1 million in a three-year competition among the state's public and private universities for the best ideas to develop "smart" cities and systems throughout Wisconsin.
- The new, “Smart City, Smart Future” initiative will include a competition which will offer winners and award recipients prizes, financial awards, and vital technical support, in addition to a platform to attract investments that will bring their innovative ideas to life.
- The competition will look for innovative ways and harness technology to enhance quality of life and working environments, inspire attractive streetscapes, transportation networks and living spaces, and promote sustainable economic and demographic growth.
- More details will be announced during a Smart Futures Summit at University of Wisconsin-Parkside on August 7th.
“Wisconsin has excellent undergraduate and post-graduate talent. We want to work with our partners in higher education to develop various programs such as the Smart City, Smart Future initiative to foster, energize and retain talent in Wisconsin… Wisconsin's talented workforce and strong work ethic were part of what attracted Foxconn to invest in the state.” - Alan Yeung, Foxconn director of U.S. strategic initiatives and president of FEWI Development Corp.
Foxconn in Wisconn Valley
- Foxconn’s Wisconsin campus will be the largest single economic development project in Wisconsin history, creating 13,000 new jobs with a $53,875 average annual salary, plus benefits.
- This makes Foxconn’s investment the largest corporate attraction project as well as the largest greenfield investment by a foreign-based company in U.S. history, as measured by jobs.
- With a floor area of 20 million sq. feet, the Foxconn campus will become one of the largest manufacturing campuses in the world — eclipsing the New Century Global Center in Chengdu, China, the Tesla Gigafactory in Sparks, Nevada, and the Boeing facility in Everett, Washington.
- The campus will produce liquid crystal display (LCD) panels for a variety of industries – from automotive to healthcare to entertainment. It will be the first LCD production facility in the United States.
- The project will require an estimated $10 billion of capital investment to construct and equip the facility. Of this, an estimated $5.7 billion will be for construction and equipment sourced from Wisconsin businesses.
- The project will support 10,000 construction jobs over each of the next four years as well as 6,000 indirect jobs from the construction.
- The capital investment during construction is expected to generate $348 million in state and local tax revenues.
Ongoing Economic Impact
- A report by a UW-Madison economist indicates the Foxconn deal is expected to return nearly four dollars for every one dollar of state investment.
- In addition to the 13,000 jobs directly created by Foxconn, the project is expected to create at least 22,000 indirect and induced jobs throughout the state.
- Foxconn is to make $4.26 billion in supplier purchases annually, about one-third of which will be sourced within Wisconsin.
- The project is expected to have at least a $7 billion annual economic impact on the state.
- The project will generate an estimated $181 million in state and local tax revenues annually, including $60 million in local property taxes.
*Last updated: May 11, 2018