Foxconn arrival creates new opportunities for real estate investors

The impending arrival of Foxconn Technology Group will be a shot of economic adrenaline for the Milwaukee area as the company locates its LCD panel manufacturing facility in Mount Pleasant and regional headquarters and innovation center in downtown Milwaukee. This is fantastic news for our entire region. It creates thousands of new jobs, from the start of construction until the new facilities are up and running. But the ripple economic effect will be a big boost for potential Foxconn partners, subcontractors, nearby service-oriented businesses and new startups that both benefit from the healthier economy and add to it. Taiwan-based Foxconn is the largest contract electronics manufacturer in the world, making everything from iPhones to Kindles to PlayStations. It is the world’s fourth-largest information technology company by revenue and one of the largest employers worldwide. The company is planning to locate its Wisconsin headquarters in downtown Milwaukee, where it hopes to attract some of the best talents from Marquette University, the University of Wisconsin and other institutions of higher learning. As many as 650 people could end up working at the new headquarters. This will create great new opportunities for those looking to invest in real estate, as the influx of new Foxconn employees will create demand for new and upgraded housing. Millennials, who will comprise many of the employees Foxconn expects to hire at its downtown facility, tend to prefer urban areas, keeping their work, living spaces, and recreational activities in relatively close proximity. If you have considered investing in real estate, start thinking seriously, doing your homework and taking action while affordable opportunities remain.