Acquires building in downtown Milwaukee as headquarters for its Wisconsin project and a hub for the 8K+5G ecosystem Foxconn is creating in the U.S.
Milwaukee, WI – Foxconn Technology Group (Foxconn) today announced the development and opening of its Wisconsin headquarters in downtown Milwaukee. Foxconn has entered into a Letter of Intent whereby Foxconn would purchase from Northwestern Mutual an office building and property located at 617 E Wisconsin Avenuein Milwaukee, Wisconsin, currently known as the 611 Building. A closing on the property and opening of the building by Foxconn is anticipated later this year.
Foxconn’s acquisition of the 611 Building is a key milestone in the company’s plans to build a state-of-the-art LCD panel manufacturing facility in Mount Pleasant, and its commitment to contribute to Wisconsin’s transformation through the significant job opportunities and value that the facility will generate for the state and the Wisconsin community. The seven-story office building, which will be renamed Foxconn Place, will serve as the headquarters for the Wisconsin project and the activities associated with the major investment Foxconn will be making in the state.
As part of the corporate functions that will be housed at the new Foxconn Place, the building will also be home to the newly established Wisconn Valley Innovation Center, a hub for the robust 8K+5G ecosystem that Foxconn is creating in Wisconsin and in the United States. The facility will house incubators, accelerator labs, venture capital activities, and start-up initiatives and support Foxconn’s goal of cultivating a new class of vertical solution providers for advanced manufacturing processes and technologies, as well as for industries such as education, medical and healthcare, entertainment and sports, security, and smart community.
The building has current capacity for approximately 650 people, along with a parking facility on the property. In addition to being the operation center for Foxconn and its partners, Foxconn will develop a product showcase as part of the Wisconn Valley Innovation Center to provide members of the public with the opportunity to experience first-hand some of the evolving and leading-edge technologies that 8K+5G will enable.
“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. 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, and contribute to the state’s transformation into a global hub for high-tech companies,” said Louis Woo, Special Assistant to Foxconn CEO. “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. 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 decision to locate Foxconn Place in downtown Milwaukee was based on multiple factors:
Milwaukee’s Central Business District (CBD) is well located in Wisconsin’s center of commerce. Positioning the company in the CBD offers an excellent environment for its future employees to work, innovate, live, play, and for others to visit. Only steps away from the iconic Milwaukee Art Museum, the Lake Michigan shoreline, various monuments, attractions, and gourmet eateries and restaurants, the building is an attractive magnet, especially for the professional and tech-focused workforce that will fuel innovation and new ideas.
Additionally, the location offers easy access to transportation corridors, including Interstate roads systems connected to Madison, Green Bay and Chicago, railway transit, and General Mitchell International Airport.
The downtown Milwaukee location provides Foxconn a center-point to source top talent, including graduates from various local educational institutions.
Finally, it provides an opportunity for the company to contribute to, and participate in Milwaukee’s transformation and growth. Foxconn looks forward to adding to the growth and development of the technology sector and advanced manufacturing in the region with its Wisconn Valley Innovation Center.
This significant property acquisition and related investment marks another major commitment by Foxconn to the State of Wisconsin and will ensure that the company’s contributions to the state go well beyond the Electronics and Information Technology Manufacturing Zone that will be established in Racine County. Foxconn is moving forward with plans related to all aspects of its Wisconsin campus, which will be a flag-bearer for advanced, intelligent manufacturing and support Wisconsin’s transformation into a global hub for high-tech companies.
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About Foxconn Technology Group
Established in 1974, Foxconn Technology Group (“Foxconn”), under the leadership of Founder and CEO Terry Gou, offers the most competitive production manufacturing technology in the world. A recognized global industry leader, Foxconn is a multinational company headquartered in Taiwan and the world’s largest electronic manufacturing services provider. Foxconn offers many of the leading U.S. and international companies in electronics a one-stop integrated manufacturing solution. Foxconn is leveraging the potential of cloud computing, mobile devices, the Internet of Things, Big Data, artificial intelligence, networks, and robotics and automation, in its transformation as a leading high-tech enterprise and industrial Internet company. The company has research centers and testing laboratories internationally and has received more than 83,500 patents worldwide. In addition to maximizing value creation for customers, Foxconn is also dedicated to enhancing the concept of environmental protection in the manufacturing process and serving as a best-practices model for global enterprises.