MOUNT PLEASANT — Microsoft is looking to enter an agreement to purchase 315 acres of land in Mount Pleasant for $50 million.
The tech giant's goal is to develop a data center on the purchased land and spend a total of $1 billion on its development over the next decade-plus.
The purchased land will be in the east section of area III of Tax Incremental District No. 5, a part of the Foxconn development in the village.
Microsoft is interested in acquiring and developing all of the land lying south of Braun Road, north of C.T.H. KR, east of the Canadian Pacific Rail right-of-way and west of 90th Street in TID 5.
The Village of Mount Pleasant, Racine County, Racine County Economic Development Corporation, Wisconsin Economic Development Corporation and Milwaukee 7 today announced the purchase agreement Monday in a news release.
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“Microsoft was attracted to this location because it is primed for development,” Mount Pleasant Village President David DeGroot wrote in the release. “Through local investments, we have transformed this area of Mount Pleasant and equipped it with the infrastructure necessary to support a major investment by Microsoft.”
“Today’s announcement is just the start of our mutual collaboration and Microsoft’s long-term commitment to the local community,” Paul Englis, Microsoft director of community engagement, wrote in the release.
The proposed development will be considered by the Mount Pleasant Village Board on Thursday and the Racine County Board at its April 11 and April 25 meetings.
If both boards approve the agreement, Microsoft will purchase 315 acres of land from the village at a cost of just over $50 million by July 31. Foxconn will receive proceeds from the purchase as a partial reimbursement of net of costs for the original purchase.
The agreement will not lessen any of the obligations that Foxconn has with the village over the land. It also does not provide any new benefits to Foxconn.
If the agreement goes through, phase one of Microsoft's development will commence no later than July 2026, according to the news release. A second phase is planned for no later than July 2033.
"Microsoft is coming to Mount Pleasant," DeGroot said in Mount Pleasant Village Board meeting Monday.