Power tool manufacturer Milwaukee Tool will expand its operations center in Menomonee Falls, Wisconsin. The $206 million project is expected to create 1,000 jobs.
The expansion will help support the company’s existing research and development facilities, infrastructure needs, and equipment at its nine locations across the state.
“This state has been our company’s home for nearly 100 years, and we’re proud to continue our investments here,” said Ty Staviski, chief financial officer for Milwaukee Tool. “Our people are the key to our success. We look forward to introducing 1,000 more people to the incredible culture we’ve created at our world-class facilities.”
Wisconsin Economic Development Corporation (WEDC) is supporting the project with an additional $22.5 million in Enterprise Zone tax credits, raising the state’s total investment in the company’s success to $70.5 million. The actual amount of tax credits the company receives will depend on meeting the capital expenditure and job creation goals.
“Milwaukee Tool’s investment in Wisconsin is creating opportunities not only for the company’s workers but for all the suppliers, construction companies, and others who partner with them,” said WEDC Secretary and CEO Hughes. “The company has deep Wisconsin roots and displays those Badger values in the communities they work in by paying employees fairly and encouraging them to give back through volunteering.”
WEDC and Milwaukee Tool began their partnership in 2016 when the state created an Enterprise Zone to support the company’s expansion. The latest amendment to the zone will provide up to $70.5 million in state tax credits if the company meets the capital investment and job creation targets in accordance with its Enterprise Zone Tax Credit Agreement requirements by Dec. 31, 2027. As of December 31, 2021, Milwaukee Tool has invested more than $233 million and created 2,289 new jobs.
“With innovative design and products with exceptional performance, Milwaukee Tool’s a clear industry leader,” said Gale Klappa, co-chair of Milwaukee 7 and executive chairman of WEC Energy Group. “The company’s extraordinary growth trajectory is creating career opportunities for graduates of our colleges and universities, as well as luring talented people to southeastern Wisconsin from across the world. As Milwaukee Tool applies its technical expertise to new markets and product categories, this remarkable company is well-positioned for continued growth.”
Founded in Milwaukee in 1924 and headquartered in Brookfield, Milwaukee Tool develops jobsite solutions for the construction trades worldwide. The company is especially known for cordless power tools, safety solutions, battery-powered outdoor power equipment, time-saving accessories, and innovative hand tools.