Hon Hai Technology Group (Foxconn) and Wisconsin’s WEDC Announce Additional 4-Year Investment In Racine County
Project will create nearly 1,400 new jobs, meet growing demand for data servers
26 November 2025, Taipei, Taiwan and Mount
Pleasant, Wisconsin – Hon Hai Technology Group (Foxconn) (TWSE:2317) will
broaden its investment in Wisconsin to artificial intelligence infrastructure,
the backbone of the AI industrial build-out in the United States, following a
nod by the Wisconsin Economic Development Corporation (WEDC) that paves the way
for nearly 1,400 new jobs over the next four years in Racine County.
The world’s largest electronic
manufacturing service provider is expanding its Wisconsin manufacturing
footprint to meet rising demand from US customers and strengthen domestic
supply chains for advancing innovation in data management and resilient, next-
generation technological capabilities for the future.
“WEDC has been committed to ensuring
Foxconn’s success and growth in our state,” said Sam Rikkers, deputy secretary
and chief operating officer of WEDC, the state’s leading economic development
organization. “This new amendment reflects Foxconn’s status as one of the many
leading global manufacturers that have chosen to grow in Wisconsin.”
“As the demand for more data infrastructure
continues to rise, Foxconn will keep responding to our customers’ needs with
flexibility and at scale in the United States,” said Jerry Hsiao, Foxconn’s
Chief Product Officer and General Manager of Hon Hai USA. “Wisconsin accounts
for close to a fourth of our workforce in America, and this second- stage
project will double that presence in the state by the end of this decade.”
The WEDC Board of Directors approved the
company’s plans to invest an additional $569 million to expand its operations
in Racine County, which will create 1,374 new jobs over the next four years. As
part of the contract amendment, WEDC will provide up to $16 million in
additional performance-based tax incentives to Foxconn, from the first-stage
investment that was revised in 2021.
With this new expansion, Foxconn is
eligible to earn up to a total of $96 million in performance-based tax credits
under the state’s Electronics, Information Technology, and Manufacturing Zone
(EITMZ) program through Dec. 31, 2029. Under the amended contract, the company
will create a total of 2,616 jobs and make a total of $1.2 billion in capital
investments during that period.
This is Foxconn’s second contract amendment
with WEDC. In 2021, the company and WEDC approved an amendment enabling Foxconn
to earn up to $80 million in EITMZ credits by the end of 2025 based on the
company’s planned investment of $672 million and creation of 1,454 jobs by Dec. 31, 2025,
which Foxconn is on track to do.
Foxconn leads the global server market,
underpinning everyday digital services – from streaming and online shopping to
digital banking and smart devices – by providing secure, scalable data server
products infrastructure. Foxconn has spent over $2 billion in Wisconsin over
the last several years across payroll, capital expenditures, and taxes,
creating approximately 1,500 jobs in data server production and reinforcing the
state’s position as a leading hub for advanced manufacturing and secure,
high-capacity data infrastructure.About Foxconn
Established in 1974 in Taiwan, Hon Hai
Technology Group (“Foxconn”) (TWSE:2317) is the world’s largest electronics
manufacturer and leading technological solutions provider, ranking 28th among
the Fortune Global 500. In 2024, revenue totaled TWD6.86 trillion (approx.
USD208 billion). The Group’s market share in electronics manufacturing services
(EMS) exceeds 40%. The Group operates over 230 campuses across 24 countries and
is one of the world’s largest employers with approx. 900,000 employees during
peak manufacturing season. The Group has expanded its capabilities into the
development of electric vehicles, digital health, and robotics, and three key
technologies – artificial intelligence, semiconductors and next-generation
communications technology. Pulling it together with its three intelligent
platforms – Smart Manufacturing, Smart EV, Smart City – the “3+3+3” strategy is
key to driving the Group’s long-term growth. Foxconn is dedicated to
championing environmental sustainability in the manufacturing process and
serving as a best-practice model for global enterprises. To learn more, visit
www.honhai.com
2025/11/26