Foxconn Technology Group secured Wisconsin regulatory approval to invest an additional $569 million in its Racine County operations, pivoting further toward AI server production as the Taiwanese manufacturer continues to downsize ambitions from its original $10 billion proposal.
The Wisconsin Economic Development Corporation board approved a contract amendment Tuesday that makes Foxconn eligible for up to $16 million in new performance-based tax incentives. The expansion is expected to add 1,374 jobs over four years at the Mount Pleasant facility.
The deal represents the second renegotiation since Foxconn scrapped its initial 2018 plan to build a massive flat-panel display factory that would employ 13,000 workers. Much of the original site has since been sold to Microsoft for a data center campus.
Under the revised terms, Foxconn could receive up to $96 million in total state tax credits through 2029, contingent on creating 2,616 jobs and investing $1.2 billion. As of December 2024, the company had invested $717 million and employed 1,242 workers, qualifying for $62.9 million in credits.
Foxconn’s chief product officer cited rising demand for data infrastructure and noted Wisconsin workers represent roughly one-quarter of the company’s U.S. workforce.
