You are on page 1of 2
RACINE COUNTY "il —w anne acine County NI FOXCONN Sesrscom ABOUT THE PROJECT We are thrilled that an international company of Foxconn’s magnitude has recognized the opportunities available in Racine County and committed to an unprecedented investment in our community. Fas Foxconn is investing an estimated $10 billion to create North America’s Peta ag) first state-of-the-art advanced display ‘manufacturing campus right here in Mount Pleasant in the heart of Racine County. The Foxconn manufacturing campus will be approximately 20, millon sq. ft, — by far the largest project in the state, and wail, n fact, be one of the largest manufacturing campuses in the worl, This opportunity represents the return of electronics manufacturing fo the US. from Asia, Foxconn’s investment will change the economic landscape in Wisconsin and establish our state as the electronics manufacturing capital of North Amer SIZE OF THE PRIZE The impact of this investment on our community is unprecedented and the opportunity enormous. It will transform our region, creating tens of thousands of new jobs for Racine County. ONE-TIME CAPITAL BENEFITS ‘ONGOING OPERATING IMPACTS Over the course of the anticipated four-year Once fully operational, the Foxconn facility is. construction period, we anticipate anticipated: to create billions of dollars in adcitional + $10 billion of capita) investment to construct ‘annual Racine County GDP. through: and equip the facilty. + Directly employing thousands of workers in Racine County and sunparting thousands of indirect jobs throughout Racine Coun + Creating millions of dollars in annual local {x revenues through indirect and induced + $9 million in Jocal tax revenues for Racine economic activity and taxes paid County governrnents by employees + Over 10,000 new construction and related jobs + $2.41 billion in cect labor income for work Derformed in Racine County. KEY PROJECT STATS + Motrand 0 SS eee, oer aty Ue cee 1.262.770.5189 RACINE COUNTY —— WELCOMES — FOXCONN SN Racine County HAS EASANT LOCAL DEVELOPMENT AGREEMENT On the heels of the approval of the State of Wisconsin's agreement ith Foxconn, the world’s largest electronics manufacturer, the Village of Mount Pleasant and Racine County have successfully crafted a Development Agreement that outlines the responsibilities of the Company, Racine County and the Village of Mount Pleasant, along with key guarantees and protections for local taxpayers, Highlights of the Development Agreement’s enhancements from the Memorandum of Understanding, benefiting local taxpayers include: LAND: Foxconn will provide all funds needed for land ‘acquisitions through an upfront cash investment of {$60 milion and Special Assessments when needed to cover acquisition costs above that amount. As a result, the Village ang County will na longer need to immediately borrow money fo acquire land in Areas Hand it JOBS: The agreement requires Foxcann to create 13,000 full-time jobs in Wisconsin, with the majarity in Racine County, FOXCONN GUARANTY: ‘As outlined in the MOU, Foxconn is providing a guaranty to cover the annual revenue equivalent to an incremental valuation of $1.4 billion, should the actual valuation fall short during the 30-year life of the TID. in addition to the valuation guaranty, Foxconn is oraviding a guaranty to cover the Village andi County's initial debt exposure, through a combination of (1 its $60 million up front cash investment ("Developer Advance’); (2) the continuing first lien mortgage to the Village and County on area parcels owned by Foxconn (Developer Advance Mortgage"), and (3) a jeveloper Affilate Guaranty’ far any remaining gap, beginning with a 135 million guaranty at the ‘ime of the initial bond issuance in 20'8, ROAD IMPROVEMENTS: The Wisconsin Department of Transportation (WisDOT) Is fundine and managing all roadway improvements in the project area, The Village will contribute $115 million toward the improvements, bbut all risk will be borne by WisDOT. WORKFORCE DEVELOPMENT: The County will allocate funds to enhance and sustain economic development efforts, programs and opportunities that benefit new and existing businesses, including those designed to encourage talent recruitment for existing and new employers in the County and those that promote advanced manufacturing and trade apprenticeship programs + $2.75 million in 2018 ($2 milion of which will be reimbursed by the state) + $1 million in 2018, 2020 and 2021 (subject to County Board approsriation) + December 1, 2017: Final site plan for Area Ito be submitted to municipalities. + December 28, 2017: Deadline for Villase to exercise all options on option parcels, with occupancy by May 15, 2018. + August 1, 2018: Deadline for Village to ‘acquire all additional parcels in project area. + January 1, 2019: Latest date Foxconn will begin the anticipated seven-year onstruction of its $10 billion facility. + January 1, 2023: Start date of minimum ‘uaranteed value of Area I to be at least $14 billion, to be maintained until December 31, 2047