Foxconn deal approved by local leaders

The Mount Pleasant village board has unanimously approved a historic agreement with Foxconn, the Taiwanese company building a huge flat screen manufacturing campus in the community.

The agreement provides $764 million in local incentives for Foxconn which is building a complex that could eventually employ 13,000 people. The factory campus is expected to have at least $1.4 billion in taxable value by 2023. The Journal Sentinel reports local officials say that will generate enough money to pay off the village and county expenses related to the project.

Foxconn will provide Mount Pleasant with $60 million up front to begin buying land at the factory site. Construction of the 25 million-square-foot manufacturing complex on 1,200 acres in Racine County is expected to begin next year.