Racine--Last night, the Racine County Board made it a trifecta of agreement on Foxconn. One day after the Mount Pleasant Village Board gave the thumbs up to an agreement with Foxconn---the County Board voted unanimously to approve the development agreement between the village---the county---and---Foxconn. State officials previously approved a contract with the company to build a massive LCD screen manufacturing plant in Mount Pleasant. The County Board also approved forming an intergovernmental cooperation agreement with Mount Pleasant regarding oversight of the development. A special signing ceremony with village, county and Foxconn officials is expected to be held on Friday.
Foxconn is planning to provide $60 million dollars---of its promised $10-billion-dollar investment---upfront---to purchase property---and---pay for public improvements---in Area 1 of the development. Area 1 is located east of Interstate 94--- west of Highway 11---north of Highway KR---and---south of Braun Road. That money will be reimbursed to the company at a later date