RACINE, Wis. (CBS 58) – Foxconn announced on Tuesday it plans to open an innovation center in downtown Racine.

The company says the Foxconn Place Racine and the Wisconn Valley Innovation Center will connect Foxconn with higher education institutions, businesses, local governments and the community to conduct smart city research in the area.

Officials say the company bought a 46,000 sq. ft., three-story building on Main Street that will become a state-of-the-art working space and model for smart city pilot programs.

Smart cities use digital technology and government functions to improve efficiency.