News Summary
Milwaukee’s BizTimes Media held the Future 50 Awards, celebrating local business leaders and their growth strategies. Among the featured companies, Craft Beverage Warehouse shifted focus to market trends, while Milwaukee Tool announced a $42 million investment creating 300 jobs. A recent MMAC survey revealed cautious optimism in the business community, with expectations of sales and job growth despite inflationary concerns. The MadWaukee Corridor is projected to see over $1 billion in manufacturing investments, reaffirming the region’s economic potential.
Milwaukee recently hosted the BizTimes Media’s Future 50 Awards program, where leaders from the five fastest-growing private companies in southeastern Wisconsin offered insights into their recent growth strategies. The event was organized in collaboration with the Metropolitan Milwaukee Association of Commerce (MMAC).
One of the highlighted companies, Craft Beverage Warehouse, co-founded by Kyle Stephens, has shifted its focus from serving microbreweries to producing canned cocktails, THC-infused drinks, and specialty sodas. This change reflects a broader trend in the market that demands companies to adapt to consumer preferences. Craft Beverage Warehouse is notable for its commitment to hiring, as it trains inexperienced workers to operate its unique machinery. The company is particularly interested in attracting “curious, smart, hard-working” individuals from the Milwaukee area.
In the realm of senior care, Meghan Davis, director of lifestyle, spoke on partnerships with local high schools and colleges aimed at nurturing future employees in the sector. This initiative is vital in addressing workforce shortages anticipated in senior care services in the coming years.
From a real estate and clean energy perspective, Beau Engman, founder of PACE Equity, shared insights about financing opportunities amidst market challenges. He noted that there is a growing interest in PACE financing, indicating a shift in how businesses are approaching investment in sustainable projects.
Milwaukee Tool announced significant developments with a planned investment of $42 million for a fourth location in Menomonee Falls, expected to create 300 jobs. This expansion is bolstered by up to $4.5 million in Enterprise Zone tax credits from the Wisconsin Economic Development Corporation (WEDC). Since 2016, Milwaukee Tool has invested over $420 million in Wisconsin, expanding its workforce from 900 employees to more than 4,000.
The new building, acquired for $6.7 million, will be an addition to Milwaukee Tool’s corporate facilities, further solidifying the company’s footprint in the area. Sales growth figures also reflect the company’s success, with an 11.9% increase reported in the first half of the year, as confirmed by their parent company, Techtronic Industries.
A recent survey conducted by the MMAC indicated cautious optimism for businesses in the Milwaukee area. Approximately 55% of business leaders anticipate higher sales and profits in 2025 compared to 2024. Moreover, 48% expect job growth within the next year, particularly noted among non-manufacturers.
However, challenges remain, as 58% of employers expressed concerns over inflation, projecting rates in the 3% to 5% range. This is indicative of ongoing price volatility affecting various sectors that may impact future planning.
In terms of economic growth potential, the MadWaukee Corridor is expected to see over $1 billion in manufacturing investments in Jefferson County, which will play an essential role in bolstering Wisconsin’s economy. The recent MadWaukee 2050 event emphasized the importance of advanced manufacturing, biotech, and logistics in shaping the economic landscape of the region.
Experts discussed several key themes that emerged from the event, focusing on workforce availability, infrastructure investment, and the importance of building collaborations between Milwaukee and Madison to drive economic development forward.
This gathering of business leaders and innovators emphasizes the dynamic nature of southeastern Wisconsin’s economy, the necessity of adaptation to market demands, and the importance of preparing a skilled workforce for the future.
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Additional Resources
- BizTimes: Milwaukee Tool Plans $42 Million Expansion
- Wikipedia: Milwaukee
- Journal Sentinel: Survey of Milwaukee Area Businesses
- Google Search: Milwaukee area businesses survey
- BizTimes: Milwaukee Tool’s Growth in First Half
- Google Scholar: Milwaukee Tool growth
- BizTimes: Opportunities for Growth in Corridor
- Encyclopedia Britannica: Milwaukee and Madison
- BizTimes: Jefferson County Economic Growth
- Google News: Jefferson County economic growth
Author: STAFF HERE MILWAUKEE WRITER
MILWAUKEE STAFF WRITER The MILWAUKEE STAFF WRITER represents the experienced team at HEREMilwaukee.com, your go-to source for actionable local news and information in Milwaukee, Milwaukee County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Summerfest, Milwaukee Film Festival, and the Milwaukee Boat Show. Our coverage extends to key organizations like the Metropolitan Milwaukee Association of Commerce and Visit Milwaukee, plus leading businesses in manufacturing and brewing that power the local economy such as Harley-Davidson and MillerCoors. As part of the broader HERE network, we provide comprehensive, credible insights into Wisconsin's dynamic landscape.
