Governor Tony Evers, together with senior leaders of Milwaukee Tool, local government officials, and regional economic development officials, recently announced that the company would be expanding its footprint in southeastern Wisconsin with a new campus in Menomonee Falls.
Milwaukee Tool’s investment will lead to the creation of 870 new jobs by 2025. Milwaukee Tool expects to invest over $100 million to construct and outfit the Menomonee Falls campus, which will complement the company’s current Global Headquarters campus in Brookfield. Milwaukee Tool will also invest $7.5 million to expand its Imperial Blades subsidiary in Sun Prairie.
“Our state is extremely grateful that Milwaukee Tool continues to expand and invest in Wisconsin,” said Governor Evers. “From the company’s name to the quality of its tools, Milwaukee Tool demonstrates that Wisconsin products – and Wisconsin workers – are the best not only in the nation but in the world.”
While all Milwaukee Tool solutions are designed and developed at the company’s global R&D facility in Brookfield, the 65 acres of land purchased in Menomonee Falls will give the company flexibility to continue to expand, grow and consolidate operations in the area. Located at North Flint Drive in Menomonee Falls, this site will allow the company to expand into a multi-building, multi-purpose campus that could be up to 2.5 million square feet as needed to support Milwaukee Tool’s future growth across the globe.
This land is adjacent to a building recently purchased by Milwaukee Tool on Flint Drive that is currently being remodeled, as well as a newly purchased plot of land in the same area on Leatherwood Court. The entire area will support Milwaukee Tool’s continued growth and deliver a world-class work environment to attract, retain, and recruit the best talent in the world.
“The people of Milwaukee Tool are our most valued resource. It is their passion for our brand and their obsession with our users that continues to drive a culture of success,” said Steve Richman, Milwaukee Tool Group President. “These expansions are necessary for Milwaukee Tool to sustain our growth by delivering disruptive innovation to users on jobsites around the world.”
The Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development agency, has been a strategic partner in accelerating Milwaukee Tool’s growth. “Milwaukee Tool is a Wisconsin success story and an economic powerhouse for the Milwaukee region and the entire state,” said WEDC Secretary and CEO Missy Hughes. “We are pleased to be able to assist the company as it continues to grow in Wisconsin by leaps and bounds.”
Since 2016, Milwaukee Tool has pledged to create up to 1,812 new jobs and invest $174.5 million in capital expenditures in Wisconsin over a five-year period. If it meets those benchmarks, the state will provide up to $46 million in tax incentives. According to WEDC’s economic modeling, those 1,812 jobs will directly generate about $7.2 million annually in state income taxes.
WEDC began working with Milwaukee Tool in 2016 when the company was looking to expand its Brookfield corporate headquarters. The state created an Enterprise Zone to assist with the project; under the agreement, Milwaukee Tool would receive up to $18 million in tax credits over a five-year period if it created at least 592 new jobs. Last year, WEDC amended the contract to provide an additional $8 million in tax credits if the company created 350 more jobs. A third amendment approved this year provides up to $20 million more in credits for the 870 new jobs promised for the latest expansions in Menomonee Falls and Sun Prairie.
In addition to the 1,812 jobs Milwaukee Tool has promised under its contract with WEDC, an economic modeling study estimates the company’s expansion could indirectly generate 4,017 additional jobs in the region. Those jobs are expected to generate about $8.3 million in state tax revenue over the five-year period.
Milwaukee Tool is the latest company to invest in Menomonee Falls. “The Village is thrilled to welcome a company the caliber of Milwaukee Tool to our community as our newest significant employer,” said Village President David Glasgow. “Milwaukee Tool is the kind of innovative and growing company we want in our community, joining an already amazing list of global companies that call the Village home.”
The Milwaukee 7 (M7) regional economic development organization also worked with the company to ensure the expansion took place in the region.
“We’re delighted that Milwaukee Tool has chosen southeastern Wisconsin for another significant investment,” said Gale Klappa, co-chair of the M7 and executive chairman of WEC Energy Group. “Milwaukee Tool is precisely the kind of company that can expand and thrive in the M7 region. The company’s brand and extraordinary growth trajectory are strengthening Milwaukee’s image around the world.”
Milwaukee Tool was founded in 1924 and is a global leader in delivering innovative solutions to the professional construction trades that offer increased productivity and unmatched durability. The company currently employs over 4,100 people nationwide.