A year and a half ago Racine County and Mount Pleasant officials created an estimate of $763 million to complete the Foxconn Technology Group development project. Now, the estimate is approximately $912 million, according to a story by the Journal Times.

As of the end of 2018, the amount spent by Racine County and Mount Pleasant totaled $190 million for infrastructure, land acquisition, and finance-related expenses.

The new estimate for the project has increased largely due to land acquisition, which so far has totaled almost $170 million. Also, interest on the debt from long and short-term borrowing in the amount of $248 million has affected the new estimate. Interest payments increased because some short-term loans were refinanced into long-term loans. Another factor for the increase is in regard to sewer and water infrastructure, which is about $25 million more than anticipated, according to the story.

Read more


Check out these other stories by the Racine County Eye:

Racine marchers brave cold, snow to honor the words and efforts of Martin Luther King

Man injured in snowmobile crash

Finding the right piece of ‘Glass’ is cumbersome

Pet of the Week: Nina wants to play, run and spend time with you

Love what we do?

In addition to our education features, we’ll be kicking off a series of stories highlighting how parents, students, and educators are adapting to the impact of COVID-19 on education. If this is important to you, please consider donating to our education reporting fund. https://business.facebook.com/donate/1846323118855149/3262802717172659/