Foxconn deposits $60 million for land acquisition

MADISON, Wis. (AP) — Foxconn Technology Group has deposited $60 million for Village of Mount Pleasant officials to use for acquiring land for the company's massive flat-screen plant.

Racine County and Mount Pleasant officials said in a news release Friday that the Taiwanese electronics giant had deposited the money with the village.

The village secured purchase options on 1,400 acres that will be used as a construction staging area, the plant itself and future expansion. The village has until Dec. 29 to exercise those options.

The village eventually wants to acquire about 3,300 total acres for the facility.

Foxconn has said the $10 billion plant could employ up to 13,000 people. Initial operations at the site could begin as early as January 2019.