City News

Foxconn to announce purchase of property in downtown Madison

Technology giant Foxconn will announce a purchase of property in downtown Madison to be used as an “innovation center.” 

Image By: Courtney Kessler

Foxconn, the Taiwanese electronics company at the center of a massive statewide controversy, is set to announce the purchase of a downtown Madison property Friday.

The company announced they intended to reveal the details of the purchase during an event at the Monona Terrace Friday in cooperation with the BMO Financial Group. The event will feature remarks from Foxconn and BMO executives as well as UW-Madison Vice Chancellor for University Relations Charles Hoslet. 

Foxconn and UW-Madison have developed a close relationship over the past year, with the company pledging a $100 million research grant to the university if the school can match that amount through private donations.

Though their planned factory in southeast Wisconsin was put on hold, the company announced plans to build a series of “innovation centers” across the state. According to the company, the property in downtown Madison will be part of that network.

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