Microsoft has agreed to buy a $50 million parcel of land in southeastern Wisconsin meant for Foxconn
MADISON, Wis. — Microsoft MSFT has agreed to buy a $50 million parcel of land in southeastern Wisconsin meant for Foxconn after the world’s largest electronics manufacturer failed to fulfill grandiose promises to build a massive facility that would employ thousands of workers.
The village already is home to a Foxconn Technology Group 2354 manufacturing facility. The Taiwan-based company is best known for making Apple iPhones. The company announced plans in 2017 to build a $10 billion facility in Mount Pleasant that would employ 13,000 people. According to a fact sheet describing the Microsoft project compiled by southeastern Wisconsin economic development groups, the 315-acre parcel is part of a tax-increment financing district that includes the Foxconn campus. Property taxes collected in such districts can be used to subsidize development in the district.
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