Foxconn Technology Group is purchasing a seven-story building in downtown Milwaukee from Northwestern Mutual Life Insurance Co. The building will serve as the headquarters for Foxconn’s operations in Wisconsin and the Wisconn Valley Innovation Center.
Foxconn’s purchase of the building is in addition to the company’s plans for a 20 million-square-foot facility in Racine County, WI which will be one of the largest manufacturing campuses in the world upon completion. The purchase of the downtown Milwaukee building is independent of any state incentives.
“We are excited to have selected an excellent location for Foxconn Place – the headquarters for our important operations in Wisconsin and the Wisconn Valley Innovation Center,” said Louis Woo, Special Assistant to Foxconn CEO Terry Gou. “This is a major milestone in Foxconn’s plans to build a world-class advanced manufacturing campus that will create significant high-value job opportunities and an extensive supply chain supporting our project in Wisconsin. We thank Governor Scott Walker for his leadership and vision and look forward to contributing to the state’s transformation into a global hub for high-tech companies.
“The Wisconn Valley Innovation Center will bring together start-ups and businesses to inspire and catalyze innovative ideas and cutting-edge solutions in 8K+5G,” Gou added. “It will play an instrumental role in our commitment to create a vibrant 8K+5G ecosystem in the United States, with Wisconsin at the center.”
Foxconn’s historic investment in the Wisconsin manufacturing facility is expected to create at least 13,000 jobs directly, as well as another 10,000 construction jobs to build the $10 billion campus. Once the facility is operational, the company expects to spend $1.4 billion a year with other Wisconsin businesses. Overall, the project is expected to have at least a $7 billion economic impact on the state.
“Beyond the $10 billion investment that will require up to 10,000 workers to build, creating this new headquarters in downtown Milwaukee is part of the Foxconn Bonus building across the state,” said Governor Scott Walker. “This is more great news for Wisconsin.”
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