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Foxconn to announce purchase of downtown Madison property, company says

MADISON, Wis. - Foxconn Technology Group said it will announce the acquisition of a downtown Madison property Friday morning. 

The company is holding a news conference at the Monona Terrace at 11:30 a.m. Foxconn said the property will join its "statewide network of innovation centers." Foxconn did not identify which building it had purchased. 

Expected to be at the news conference are Foxconn's director of U.S. strategic initiatives, the BMO Financial Group's U.S. chief executive officer, Secretary of the Wisconsin Economic Development Corp. Mark Hogan and Vice Chancellor for University Relations at UW-Madison Charles Hoslet, according to the release. 

Foxconn said in March that it plans to start constuction on its manufacturing facility in Mount Pleasant this summer and start production there by the end of 2020. 

Wisconsin offered $4 billion in state and local tax incentives to Foxconn in 2017 to build the plant in the state.

 

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