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Driven by Foxconn, Investments in Wisconsin Tech Industry to Mark a New Era for Wisconsin Startups

Posted by Cierra Wills on 8/7/17 10:05 AM

Foxconn Wisconsin.pngMILWAUKEE- Foxconn has recently announced that it will be opening a $10 billion technology plant in Wisconsin, ultimately solidifying Wisconsin as a premier state of the emerging midwestern tech-hub, dubbed the “Silicon Prairie.” Due to the multi-billion dollar investment into Wisconsin’s technology industry, tech startups within the state are now in a position to grow to unprecedented levels. One such startup company, Scanalytics Inc., who recently garnered international acclaim as it was recognized by Cisco as the producer of the best Smart Building technology, at Viva Technology 2017 in Paris, France. Given Scanalytics’ recent successes and investments that Foxconn will bring to the Wisconsin technology industry, Scanalytics’ future looks peerlessly promising.

The Foxconn project is Wisconsin’s largest economic development project to date, and it is the largest corporate economic attraction project in U.S. history. The project will require an estimated $10 billion of capital investment to construct and equip the 20 million sq.foot facility, and this project is expected to have at least a $7 billion annual economic impact. Over the next six years, Foxconn expects to hire 13,000 people in Wisconsin, thousands of whom will be engineers and skilled workers. This figure does not include jobs generated by an estimated 150 suppliers, nor multiple other technology-based jobs that would ripple across the midwest.

In addition to the economic benefits, Foxconn has announced a partnership with Milwaukee’s Rockwell Automation to develop advanced technologies for the new factory as well as other company sites worldwide. Furthermore, the development is not only expected to bring opportunities for large corporations. According to recent Journal Sentinel article written by Rick Barrett, he proclaims, “ The development has the potential to benefit not just large area companies like Rockwell and building-controls giant Johnson Controls, but also smaller firms with highly developed specialties”.

Barrett continues, “An example: Scanalytics Inc. of Milwaukee says its software, which tracks the movement of people in buildings, can be used to improve efficiency in manufacturing plants”.

Tech company Scanalytics Inc., which specializes in smart floor analytics,  is one of many local businesses with a valuable product to provide the Foxconn factory. Scanalytics’ sole sensor software, which tracks the movement of people in buildings, can be used to improve efficiency in manufacturing plants. A product such as this one could be largely beneficial to Foxconn’s operational efforts of using advanced manufacturing techniques to efficiently produce their product.

Overall, the Foxconn development is a transformational opportunity for the state of Wisconsin and the country as a whole. Foxconn is bringing the future of manufacturing to the U.S., and Wisconsin will officially establish a role in the 21st century digital economy. As for companies like Scanalytics, the Foxconn development offers an undeniable opportunity for growth.

Topics: Company News, Industry News, Related Industries, Technology