Foxconn will provide Mount Pleasant with $60 million up front to begin buying land at the factory site.

MOUNT PLEASANT, Wis. (AP) — 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 reported 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-sq.-ft. manufacturing complex on 1,200 acres in Racine County is expected to begin next year.

Today's top stories

Depreciation Bonus Begins Phase-Out

California's I-80 Pavement Rehab Project Moving Along

VIDEO: Vermeer Unveils D24 Horizontal Directional Drill, Marking New Era in Utility Installation

ConExpo-Con/AGG Releases Essential Guide for Hiring, Retaining Top Construction Talent

Ole Miss Progressing Toward Construction of $125M Accountancy School

Boston, MBTA Officials Reveal New Designs for Future Blue Hill Avenue Transit Project

National Attachments Celebrates Its 35th Anniversary

CEG Speaks With New President of Chadwick-BaRoss, Thompson Equipment