Foxconn speculation could be driving an already-strong interest among developers in the I-94 corridor in Kenosha and Racine counties.
Three new industrial developments are up for preliminary consideration at Thursday night's Kenosha Plan Commission meeting, including one that’s targeted for the site of the defunct Dairyland Greyhound Park.The track would be demolished to make way for a complex of buildings worth millions of dollars.
The other two sites targeted for Tax Incremental Districts are just south of the Kenosha Regional Airport and west of Mars Cheese Castle.
The industrial buildings would be built on speculation, meaning that while the developers have yet to sign any tenants they still have great confidence that their investments will pay off in time.
City development specialist Zahrab Khaligian says the flurry of development activity is a sign that developers have confidence in the area's economy. "I think they're just taking advantage and trying to get up front from where the market is going," Khaligian said.
There’s speculation that Foxconn—a huge Taiwanese-based manufacturer of electronics—could be eyeing a site in Racine County. It's believed that Foxconn--wherever they choose to build in the U.S.---would bring with them suppliers.
Commission will be asked Thursday to approve the three TIDs, creating vehicles for the city to cover some of the development costs and get paid back as the properties increase in value.
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