Summary: Mount Pleasant Village, Wisconsin; General Obligation

S&P Global Ratings' rating on Mount Pleasant Village, Wis.' general obligation (GO) debt is 'A' underlying rating (SPUR). The outlook is stable. The village's full-faith-and-credit pledge, including an unlimited-ad valorem-property-tax pledge, secures its GO debt. The village came into national prominence in 2017 when Foxconn Technology Group selected it for the site of its much-publicized state-of-the-art advanced-display manufacturing campus; the village expects this to be the state's largest manufacturing campus and among the world's largest. Following the passage of legislation in 2017 authorizing substantial development incentives, including $2.85 billion in refundable tax credits and up to $150 million in sales-tax exemptions, Foxconn signed a development agreement that commits it to investing $10 billion in the campus over a seven-year period

...Most recent --Historical information-- 2022 2021 2020 Adequate economy Projected per capita effective buying income (EBI) (%) of U.S. 105.0 Market value per capita ($) 186,541 Population 28,260 27,974 28,017 County unemployment rate(%) 3.5 4.7 7.4 Market value ($000) 5,271,652 4,772,312 4,328,120 3,748,556 10 leading taxpayers as a % of taxable value 22.0 Adequate budgetary performance Operating fund result as a % of expenditures 4.8 1.3 5.1 Total governmental fund result as a % of expenditures 31.1 (43.7) 0.2 Strong budgetary flexibility Available reserves as a % of operating expenditures 43.3 40.6 40.1 Total available reserves ($000) 10,275 8,980 8,843 Very strong liquidity Total government cash % of governmental fund expenditures 188.5 78.1 76.0 Total government cash % of governmental fund debt service 522.1 425.0 238.0 Weak management Financial Management Assessment Standard Very weak debt and long-term liabilities Debt service as a % of governmental fund expenditures 36.1 18.4 32.1...

Summary