Foxconn Technology Group confirmed plans to buy a building on the Capitol Square in Madison currently owned by BMO Harris Bank to establish another innovation center in Wisconsin.
The company announced the purchase of the property at 1 W. Main St. on Friday morning. The building will be renamed Foxconn Place Madison and Foxconn says it will connect the University of Wisconsin-Madison and regional suppliers with the company’s Wisconn Valley Science and Technology Park in Mount Pleasant.
Foxconn has previously announced a number of other innovation centers around the state, including in Green Bay, Eau Claire, Milwaukee and downtown Racine. An article from The Verge this week suggested many of the projects have not made significant progress.