Microsoft expanding Mount Pleasant footprint; investing billions
MOUNT PLEASANT, Wis - Racine County officials and Microsoft announced on Friday, Nov. 10 that the tech company plans to significantly expand its proposed Mount Pleasant data center footprint, investing billions more in new developments.
If approved by the Village of Mount Pleasant and Racine County, the company would invest billions of dollars to construct new data centers to meet the evolving computational needs of its global customer base, expanding on the $1 billion investment announced earlier this year, which is already among the largest single private sector investments in Wisconsin history.
A news release says Microsoft would acquire an additional 1,030 acres within Mount Pleasant Tax Incremental District (TID) No. 5. If approved, about 630 of these acres would be purchased from the Village of Mount Pleasant in Areas II and III. The remaining acreage would be purchased from a private landowner. Once these purchases are complete, Microsoft will own 1,345 acres in Mount Pleasant, inclusive of 315 acres the company purchased in May, making the company the largest landowner in TID No. 5. Construction is already underway on the land Microsoft currently owns.
Planning for the data centers has already begun, and Microsoft anticipates investing billions of dollars over the next decade in buildings, support structures, systems and equipment, officials said.
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"We are thrilled to see a global powerhouse like Microsoft continue to see the value and benefit of growing their operations here in Wisconsin and the booming Southeast region of our state," said Gov. Evers in a news release statement. "We are also especially grateful for the collaboration of the many local partners that helped make this significant announcement possible. Microsoft’s injection of billions of dollars to expand its operations in Mount Pleasant will have a positive impact that will be felt in the region and across our state for years."
"It’s an incredible day for the Village of Mount Pleasant who played a pivotal role in facilitating the expansion of one of the world's leading technology giants," said Speaker Robin Vos (R-Rochester) and State Rep. Robert Wittke (R-Racine) in a joint statement. "Mount Pleasant and Racine County’s commitment to fostering innovation, its skilled workforce, and the supportive business environment make it an ideal location for Microsoft's continued growth."
The agreements that would enable the proposed development will be introduced to the Mount Pleasant Village Board on Nov. 13 and to the Racine County Board on Nov. 14. No votes will take place on those dates. The Village Board will consider the proposed land purchase and development agreements on Nov. 27. The Racine County Board will consider the agreements on Nov. 28.
Pending approvals, the land transfers would take place by the end of the year.
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Under the terms of the amended agreement with Microsoft, Microsoft will guarantee a minimum assessed value of $1.4 billion on its investments in Areas II and III, by 2028. That guarantee is in addition to the existing $1.4 billion minimum valuation guarantee by Foxconn in Area I. As part of these agreements, Foxconn is releasing its Developer Acquisition Rights to the land in Areas II and III that Microsoft seeks to purchase.