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Foxconn Acquires Downtown Madison Property, Further Growing Innovation Center Network in Wisconsin
One West Main to become Foxconn Place Madison and Wisconn Valley Innovation Center, Support Entrepreneurship and Research Partnerships with UW-Madison
Madison, WI – In an expansion of its presence around the Badger state, Foxconn Technology Group (Foxconn) today announced the acquisition of a landmark property at 1 West Main Street (One West Main) in downtown Madison and continued the growth of its network of Wisconn Valley Innovation Centers. Purchased from BMO Harris Bank, One West Main will be renamed Foxconn Place Madison and will serve to connect the University of Wisconsin-Madison and regional suppliers and partners with the Wisconn Valley Science and Technology Park and other Foxconn facilities in Wisconsin.
BMO and their approximately 100 employees in downtown Madison will continue to reside in the building, leasing space from Foxconn. Furthermore, a BMO Harris Bank branch will maintain its presence at the base of the building.
“The purchase of One West Main furthers Foxconn’s commitment to foster and retain regional talent as well as build technical capabilities in South Central Wisconsin and across the entire state,” said Dr. Alan Yeung, Foxconn Director of U.S. Strategic Initiatives.
“In addition to being the capital of the state of Wisconsin and the seat of Dane County, Madison is home to the University of Wisconsin’s flagship UW-Madison campus and is a vibrant community rich with entrepreneurs, venture capital investors, and innovative technology partners,” said Yeung. “With Foxconn Place and Wisconn Valley Innovation Center located in the heart of Madison, Foxconn looks forward to collaborating with UW-Madison and other organizations interested in partnering with us to further develop technical solutions as part of the AI 8K+5G ecosystem.”
“In August, 2018, Foxconn Chairman Terry Gou and Chancellor Becky Blank joined together to create the largest industrial research partnership in the history of UW-Madison, which is anchored by Foxconn’s $100 million gift,” said Charles Hoslet, Vice Chancellor for University Relations at the University of Wisconsin-Madison.
“The Foxconn Institute of Research in Science and Technology (FIRST), part of which will be housed in Foxconn Place Madison, is an important part of that partnership. Through it, we hope to drive advances across a number of scientific fields over many years to come. These advances will not only create new technologies, they will also benefit human health and well-being.”
Under the signed Foxconn/UW-Madison Collaboration Declaration, Foxconn Place Madison will serve as a hub for technological innovation and provide an environment for students, staff, faculty and researchers to collaborate between Foxconn Place Madison and the UW-Madison campus. This off-campus building in downtown Madison will support research and development initiatives including advances in medical, material, computer and data sciences.
Part of the Wisconn Valley Innovation Network, Foxconn Place Madison will be part of the ecosystem that comprises Wisconn Valley Science and Technology Park in Mount Pleasant, Racine County, Foxconn North American corporate headquarters in Milwaukee, and innovation centers at Foxconn Place Chippewa Valley, Foxconn Place Green Bay and Foxconn Place Racine.