US Markets
Wednesday, May 8th, 2024 5:01 pm EDT
Key Points
- President Biden to announce Microsoft Corp’s plan for a $3.3 billion high-tech data center in Wisconsin, creating thousands of jobs.
- Microsoft’s investment replaces Foxconn’s scaled-back $10 billion factory project on the same land, contributing to job growth in Racine County.
- Biden’s visit aims to engage with Wisconsin’s Black community, crucial for his reelection bid, with plans for volunteer training, ad campaigns targeting diverse communities, and expansion of campaign operations to key areas.
President Joe Biden is set to visit Wisconsin, a pivotal battleground state, to announce Microsoft Corp’s plan to construct a $3.3 billion high-tech data center in Racine County. This significant investment follows Foxconn’s scaled-back plans on the same land, where a $10 billion factory was once envisioned. The Microsoft facility is projected to generate 2,300 union construction jobs and around 2,000 permanent positions, marking a notable economic boost. The White House highlighted the addition of nearly 4,000 jobs in Racine since Biden’s inauguration, contrasting with the loss of 1,000 manufacturing jobs during the previous administration. Furthermore, Microsoft’s partnership with Gateway Technical College aims to train 1,000 individuals for data center roles by 2030 and equip 1,000 business leaders with AI adoption skills, positioning the industrial heartland to lead in future industries. Biden’s visit coincides with his strategy to engage with Wisconsin’s Black community, crucial for his 2024 reelection bid, as polls indicate a tight race with former President Donald Trump. Trump’s campaign, which once promised a tech hub dubbed “Wisconn Valley,” has not commented on Biden’s initiative. Biden’s campaign focuses on bolstering support among Black voters, with plans to train volunteers using a mobile app for voter outreach and launching a $14 million ad campaign targeting diverse communities. As part of broader efforts, the campaign aims to expand operations and outreach to small businesses in key communities, signaling a concerted push to strengthen support in crucial electoral demographics.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/05/08/biden-to-unveil-3point3-billion-microsoft-ai-investment-in-battleground-wisconsin.html
