Microsoft has paid a substantial amount exceeding the current valuation of land in Mount Pleasant, Wisconsin, as part of its plan to construct a multi-building data center.
The Creuziger family, who owns the 407-acre land, consented to sell it to Microsoft for a reported $76 million, initially intended for the development of a data center campus with a planned investment of over $1 billion.
The Creuziger family had previously received a much lower offer in 2017 from the local government, as part of an agreement with the Foxconn Technology Group, which amounted to a third of the sum now offered by Microsoft.
Despite the previous offer, the family declined, holding out for a better deal. The current valuation of the family’s land in 2023 was $174,200, but it had appreciated to $598,400 over time.
Microsoft’s acquisition includes the land, featuring a large pumpkin farm and a nine-acre corn maze, along with an additional 641 acres of neighboring land, all totaling $99.7 million.
The software giant plans to create 200 jobs initially at its Mount Pleasant data center, with the potential to add more than 460 jobs. However, this is still a fraction of the 13,000 jobs originally promised by Foxconn in 2017.
The sale marks a positive outcome for the village, bringing an end to years of confusion and mixed signals from Foxconn, which had initially pledged a $10 billion investment in Mount Pleasant.
The Creuziger family’s attorney, David Barnes, expressed their well-wishes for the village and Microsoft, emphasizing the importance of respecting their privacy.