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* Crain’s…
The University of Illinois plans a $100 million center to develop smart technologies in partnership with a division of Foxconn and the long-planned Discovery Partners Institute.
The Center for Networked Intelligent Components & Environments will be based on the Urbana-Champaign campus as part of the Grainger College of Engineering. […]
Foxconn Interconnect Technology will fund the $50 million over 10 years. The unit is separate from Foxconn Technology Group, the electronics-assembly business that is building a factory near Kenosha, Wis., and is funding $100 million in engineering research at the University of Wisconsin at Madison.
* Daily Illini…
Foxconn’s presence at the University already includes a space in the University’s Research Park, as well as Lu’s recent $21.5 million investment toward a five-story addition to the University’s mechanical engineering building.
Researchers from Foxconn Interconnect and the University will be working together at the new center to focus on research for a wide range of projects, including the interaction between humans and robots, new measurement techniques for nanoscale components, methods for capturing manufacturing data and new data-processing techniques in sensors.
posted by Rich Miller
Wednesday, Oct 2, 19 @ 11:26 am
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===Foxconn Interconnect Technology will fund the $50 million over 10 years.===
Get the $50 million from Foxconn upfront.
This seems like *way* too much “good faith” by UIUC.
Comment by Oswego Willy Wednesday, Oct 2, 19 @ 11:35 am
Check your pockets, U of I.
Comment by Da Big Bad Wolf Wednesday, Oct 2, 19 @ 11:55 am
Like OW says. Also Fox conns focus is humans putting together parts made by others? Why not focus on automating that instead of these topics?
Comment by Not a Billionaire Wednesday, Oct 2, 19 @ 11:56 am
Only on Capital Fax is $50 million investment in the University of Illinois by Foxconn a bad thing.
Republican derangement syndrome at its finest.
Comment by Lucky Pierre Wednesday, Oct 2, 19 @ 12:01 pm
===Get the $50 million from Foxconn upfront.===
I have experience in both higher ed fundraising and economic development subsidies, and in my experience corporate gifts like this one come with a far tighter legal guarantee than economic development agreements do.
Having said that, your advice is solid, OW. This is Foxconn we’re talking about.
Comment by Benjamin Wednesday, Oct 2, 19 @ 12:09 pm
So it should be noted that Sidney Lu, the CEO of FIT, was the main donor behind the University’s new Mech Engineering Building on campus. And unlike the Wisconsin deal there doesn’t seem to be any ‘incentives’ involved in this.
Don’t trust them obviously, but the money is probably good and I don’t see any problem with the university doing this.
Comment by NIck Wednesday, Oct 2, 19 @ 12:27 pm
==investment in the University of Illinois by Foxconn a bad thing.==
Not to be confused with the $30 million high-tech factory in Harrisburg (PA) that never materialized.
Comment by Jocko Wednesday, Oct 2, 19 @ 12:27 pm
LP, skepticism is completely warranted. Check with Wisconsin about how Foxconn is performing.
Comment by Don't Bloc Me In Wednesday, Oct 2, 19 @ 12:28 pm
===Only on Capital Fax is $50 million investment in the University of Illinois by Foxconn a bad thing.===
Ask “Wisconsin” how things work with Foxconn.
They want matching, asking for upfront monies isn’t a bad thing, it’s a prudent thing.
My fear?
This $50 million to $50 million will turnout to be $80 million by UIUC and $10 million by Foxconn.
Still $10 million underfunded, Foxconn not meeting its end, and Foxconn costing the state more money after getting $30 extra million to chase that first $50 million.
Get the Foxconn money upfront. Trusting then is folly.
(Tips cap to - Not a Billionaire - and - Benjamin -)
Comment by Oswego Willy Wednesday, Oct 2, 19 @ 12:33 pm
Thanks OW. I researched cell phones not made in China. Samsung makes some in South Korea which is a developed country so it can be done. .
Comment by Not a Billionaire Wednesday, Oct 2, 19 @ 12:47 pm
LP, you’ll be pleased to hear that I also have agreed to fund 50 million over 10 years. Trust me I’m good for it.
Comment by don the legend Wednesday, Oct 2, 19 @ 12:49 pm
“The Foxconn manufacturing complex planned in Wisconsin is likely to continue falling short of the threshold required to begin receiving billions of dollars in state incentives, even after production begins next year.”
https://www.cnbc.com/2019/07/08/wisconsin-governor-says-foxconn-is-again-likely-to-miss-job-targets.html
Maybe you missed it, if the jobs aren’t created, the state incentives don’t happen.
What is happening is investment by Foxconn in the Midwest instead of in Asia and that is a very good thing.
Get the money upfront? That is precisely the attitude that scares off business investment in Illinois.
Don’t look a gift horse in the mouth OW
Comment by Lucky Pierre Wednesday, Oct 2, 19 @ 12:50 pm
===Maybe you missed it, if the jobs aren’t created, the state incentives don’t happen.===
This ain’t about jobs, first it’s about the bricks and mortar.
Can’t have part of building waiting for more monies from Foxconn.
===Get the money upfront? That is precisely the attitude that scares off business investment in Illinois.===
This is investing in UIUC.
I wouldn’t trust Foxconn for $50.00 the way they make promises, let alone $50 million.
Fiscal conservatives are like that.
===Don’t look a gift horse in the mouth===
Narrator: the gift hasn’t been given.
Comment by Oswego Willy Wednesday, Oct 2, 19 @ 1:02 pm
==Maybe you missed it, if the jobs aren’t created, the state incentives don’t happen.==
It’s true about the incentives but not true about infrastructure costs. 190 million has already been spent acquiring peoples’s houses and knocking them down. I wish the people of Mt. Pleasant well and hope things work out but ya know, this is Foxconn.
Comment by Da Big Bad Wolf Wednesday, Oct 2, 19 @ 1:05 pm
The mere mention of Foxconn makes me hiss like a cat.
Comment by Honeybear Wednesday, Oct 2, 19 @ 1:17 pm
“This ain’t about jobs” LOL
80 million by UIC? wrong again
“The other 50 million is coming from the University’s long planned Discovery Partners Institute, whose creation was initially proposed by former Governor Bruce Rauner and supported by University President Timothy Killeen and former Chicago Mayor Rahm Emmanuel.”
No wonder you hate the idea
Bricks and mortar lay themselves apparently and build buildings with no employees inside.
Those are some fantastic, non unionized Foxconn robots
Comment by Lucky Pierre Wednesday, Oct 2, 19 @ 1:25 pm
This could be a water play by Foxconn.
https://www.chicagobusiness.com/crains-forum-water/qa-water-wars-author-advises-strategy-every-last-drop-great-lakes
“Because of the Great Lakes Compact, all other Great Lakes states are restricted and cannot send water outside the watershed for diversions other than to a community that is on or near the watershed line. But Illinois has this Supreme Court case from 1967 that allows the state to send its water anywhere in the state that is practical. The vast majority of the people in Chicago and certainly in the state of Illinois don’t realize what a special privilege they have.”
Comment by Thirsty Wednesday, Oct 2, 19 @ 1:36 pm
Makes you wish that Wisconsin marked all the bills in that ton of incentives they gave to Foxconn, so we could see how much of it turns up in Foxconn’s investment in this partnership. /s
I agree, though - whoever is putting up the other half of the money would do well to make sure Foxconn’s checks clear first.
Comment by Whatever Wednesday, Oct 2, 19 @ 2:01 pm
== Discovery Partners Institute, whose creation was initially proposed by former Governor Bruce Rauner and supported by University President Timothy Killeen ==
I think it’s the other way around. Killeen proposed it and Rauner (and Rahm) supported it.
Comment by Tammy Wednesday, Oct 2, 19 @ 2:33 pm
LP…so you’re willing to give Foxconn a mulligan on Harrisburg?
Comment by Jocko Wednesday, Oct 2, 19 @ 2:35 pm
===80 million by UIC? wrong again===
Here’s what you’re missing.
You *trust* Foxconn.
You ignore failure after failure by Foxconn, and what’s going on in Wisconsin.
This is important, so pay attention… once UIUC is $50 million in… and Foxconn, as they have countlessly, breaks their agreement in 1, 2, 3 payment, ya can’t have a half baked building and think tank thingy on any campus. So…
“We’ll pay the rest”
- UIUC, possibly.
Get the monies up front. Banking in $50 million in hopes that Foxconn won’t bow out ain’t no deal.
Nope.
===No wonder you hate the idea===
LOL, tell me Wisconsin is doing well working with Foxconn.
Take Foxconn out, put “Google” in, and fronting the cash…
Comment by Oswego Willy Wednesday, Oct 2, 19 @ 2:44 pm
@Thirsty, that was Foxconn’s gambit in Wisconsin, but I don’t know that it has much traction in Illinois. While Illinois can send water outside the very small portion of the state that is in the watershed, there is still a volume cap on its ability to do so under the 1980 amendment to the Supreme Court decree. If we’re worried about diversion of Great Lakes water, our neighbors to the north are where the action is, as their DNR is happy to stretch the bounds of the Compact.
Comment by Wonk Wednesday, Oct 2, 19 @ 3:23 pm
===I think it’s the other way around. Killeen proposed it and Rauner (and Rahm) supported it.===
As someone who worked on the project, it is in fact Rauner’s project.
===“The other 50 million is coming from the University’s long planned Discovery Partners Institute, whose creation was initially proposed by former Governor Bruce Rauner and supported by University President Timothy Killeen and former Chicago Mayor Rahm Emmanuel.”
No wonder you hate the idea===
DPI currently has no money or plan, so safe assumption UIUC, or more accurately Illinois tax payers, will be footing the remainder of the bill.
Comment by njt Wednesday, Oct 2, 19 @ 3:49 pm
DPI will be led and managed by University of Illinois for the State of Illinois but it is not a part of the University of Illinois or included in its financial statements. There will be hubs at other public and private universities including Northwestern and U of Chicago, Northern Illinois, etc. UIUC will not own the building so there will be no tab for them to pick up no matter what happens with Foxconn.
Comment by Anonymous Wednesday, Oct 2, 19 @ 4:01 pm
===Illinois tax payers===
(Sigh)
The state of Illinois will pay.
The state or UIUC is on the hook for minimum $50 million, plus whenever Foxconn decides they’re done, Illinois will be on the hook for that too.
Comment by Oswego Willy Wednesday, Oct 2, 19 @ 4:02 pm
Apple and Foxconn were accused of labor violations by China so I have doubts about their robots. I suspect you will find those in Korea. I would like to have more engineers and robots here making a lot more than 15 an hour. I would think U of could find a lot better partners. Right on OW.
Comment by Not a Billionaire Wednesday, Oct 2, 19 @ 8:17 pm