MOUNT PLEASANTÂ â Two industrial buildings are to be built in the same tax increment district as Foxconn in Mount Pleasant, the village announced this week.
Ashley Capital, a New York-based, privately held real estate investment company with an office in Chicago, is the contract buyer of about 48.5 acres of land in the northern area of TID No. 5.
The two buildings will have a minimum valuation of $48 million. Each building will be approximately 390,318 square feet.Â
The land is north of the Canadian Pacific Railway property, east of International Drive, south of a future, extended Enterprise Way and west of Sturtevant, according to an email from Ashley Capital sent to the village.Â
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Whatâs going to be made?
It remains unclear what Foxconn will make under the new contract. Foxconn officials last year began hinting at the possibility of building electric vehicles, with manufacturer Fisker announcing in February a partnership with Foxconn to build vehicles. Last month, company chairman Young Liu said the Mount Pleasant factory was in the running, along with Mexico, to be Foxconnâs North American electric vehicle production hub â although no formal decisions have been made.
Foxconn has yet to receive any state dollars, but the project in Mount Pleasant already has cost the state more than $200 million in state and local road improvements, sales and use tax exemptions, grants to local governments and for worker training and employment. Foxconn officials estimated in October the company had invested $750 million in the state.
MOUNT PLEASANT â Questions continue to swirl as Foxconn remains nontransparent about what it is, and isnât, producing in Mount Pleasant.
Now, according to a statement made to The Journal Times, Foxconn Technology Group plans âto capture a substantial percentageâ of the U.S. server board market. A server board hosts some of the most important parts of any computing system, such as memory capacity and processor speed.
Although The Journal Times did ask, Foxconn Technology Group did not detail what âa substantial percentageâ means, what types of server boards are to be made, how many server boards are being made, how many workers are being employed in that effort and for whom they are being produced.