Village of Mount Pleasant Approves Agreements with Microsoft

MOUNT PLEASANT, WIS. – The Mount Pleasant Village Board tonight approved three agreements that advance plans from Microsoft Corporation (Microsoft) to purchase a 315-acre parcel of land in the Village of Mount Pleasant to develop a data center campus. The proposed development will next be considered by the Racine County Board at its April 11 and April 18 meetings.

“For the Village of Mount Pleasant and our entire Racine County community, the potential benefits of Microsoft’s planned investment cannot be overstated. This project is an ideal fit for TID 5, and could attract additional high-quality growth for our area,” said Village of Mount Pleasant President David DeGroot. “The Village of Mount Pleasant looks forward to continued discussions with Microsoft regarding this incredible opportunity. We will continue to collaborate with Racine County as the Racine County Board considers the relevant agreements.”

Microsoft has signed agreements to purchase land in the east section of Area III of Tax Increment District No. 5 from the Village. Microsoft’s purchase and development of the land is subject to local approvals by the Village of Mount Pleasant and Racine County, including three initial agreements.

• The Purchase & Sale Agreement allows Microsoft to purchase and the Village to sell approximately 315 acres of land within TID 5 for $50,085,000;
• The Development Agreement notes that Microsoft will develop a $1 billion, 315-acre data center campus. Pending approvals, site readiness work could start later this year;
• The Implementation Agreement between the Village of Mount Pleasant, Racine County and Foxconn to enable the Microsoft project in TID 5.

Additional details about each agreement are outlined in the attached fact sheet.

LOCAL INVESTMENTS PAVE THE WAY
In 2017, a multi-year process began that required unprecedented coordination between local and statewide governments and agencies to transform more than 2,500 acres in the heart of the Village of Mount Pleasant to an area that is shovel ready for high level development appropriate for the Electronics and Information Technology Manufacturing Zone.

ABOUT THE VILLAGE OF MOUNT PLEASANT
The Village of Mount Pleasant is a community that prides itself in one of its greatest assets – location. Comprised of 36 square miles in Eastern Racine County, Mount Pleasant is one of the fastest growing communities in the State of Wisconsin. Stretching from Lake Michigan to Interstate 94, its location provides easy access to metropolitan Milwaukee and Chicago, as well as Mitchell International Airport. Mount Pleasant also offers a wide variety of business opportunities. Numerous local, national, and international companies call Mount Pleasant home, including Case New Holland, Badger Meter, Foxconn, Putzmeister, SC Johnson, Seda International Packaging, and many others. Companies are consistently expressing interest in the community and the area as a whole, allowing the Village to see consistent growth in employment opportunities and amenities for residents. Learn more at http://www.mtpleasantwi.gov/.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.