RACINE — Foxconn Technology Group’s plan to create an innovation center in Downtown Racine called Foxconn Place Racine will not displace any of the building’s current tenants, the company said Monday.
In response to inquiries from The Journal Times, Taiwan-based Foxconn elaborated on the announcement it made Oct. 2 at a press conference outside of One Main Centre, 1 Main St.
At that event, Foxconn and its government partners announced that Foxconn Place Racine and Wisconn Valley Innovation Center are coming to the three-story, 46,000-square-foot building.
Alan Yeung, Foxconn’s director of U.S. strategic initiatives, told the audience the building will house at least 125 Foxconn employees — but it was unclear how this development might affect the current tenants, if at all: primarily BMO Harris Bank, Baird, Fluid Consultants, Warren Eye Care and Fred Young Jr.
On Monday, Foxconn provided a written statement that read, in part: “Foxconn is in the process of acquiring the One Main Centre building in Downtown Racine and is currently conducting due diligence to ensure the building meets all required standards. It is not our intent to displace any tenants that are in compliance with their lease agreements, and we look forward to exploring long and fruitful relationships with these tenants.”
A spokesman for Baird also said the ownership change will have no effect on the company’s current lease.
Renovations to come
Foxconn further stated Monday: “Following the closing of the purchase and sale transaction, and during the initial stage of development, renovation of vacant areas on the first and second floor shall begin.”
The entire second floor is vacant since Ascension All Saints Hospital removed the clinic it had there. The south end of the first floor, comprising approximately half of that floor, has never been occupied. The result is that Foxconn will occupy half of the building.
“In full compliance with relevant laws and safety regulations, some parts of the building may be required to be vacated during the renovation Foxconn will be working to ensure this renovation effort causes as little disruption to normal business practices as possible. Further information about space deployment will be shared in due course.”
In October, Yeung said Foxconn Place Racine “will encompass a state-of-the-art co-working space but also become a model for smart city pilot programs that will take advantage of and leverage all of the technologies Foxconn will build and enable in Wisconsin.”
Yeung said Foxconn believes its technologies will “catalyze and inspire next-generation ideas in enhancing quality of life, living spaces and working environments.”
During that October event, Racine County Executive Jonathan Delagrave said the new Downtown center, along with the $10 billion Wisconn Valley Science and Technology Park, “will position Racine County as the epicenter … for technology and innovation not just in the state — but in the Midwest.”
“It is not our intent to displace any tenants that are in compliance with their lease agreements, and we look forward to exploring long and fruitful relationships with these tenants.” Foxconn Technology Group