News Summary
Milwaukee Tool is investing $42 million to expand its operations in Menomonee Falls, creating around 300 high-skilled jobs. The new facility will enhance existing operations and reflect the company’s commitment to innovation and economic growth in Wisconsin. Supported by the Wisconsin Economic Development Corporation, this expansion is part of Milwaukee Tool’s ongoing strategy to strengthen their workforce and manufacturing capabilities.
Menomonee Falls, Wisconsin – Milwaukee Tool is set to make a significant investment of $42 million in expanding its operations in Menomonee Falls, with plans to create approximately 300 high-skill jobs within the region. The new facility will be established at 100 Heritage Reserve on a 22-acre property, enhancing the company’s existing operations in the area.
The expansion is expected to receive support from the Wisconsin Economic Development Corporation (WEDC), which will offer up to $4.5 million in performance-based Enterprise Zone tax credits. This investment is aligned with Milwaukee Tool’s long-term strategy to bolster its operational capabilities and workforce.
Milwaukee Tool recently acquired the site, a former office space for Strong Funds, for $6.7 million at the end of 2022. The company currently operates three other facilities in Menomonee Falls that encompass an event space, video/photo studio, advanced testing facility, and locations for IT and finance.
Since 2016, the WEDC has authorized over $75 million in tax credits to support Milwaukee Tool’s expansion efforts. The company has already invested more than $420 million in capital expenditures, resulting in a workforce increase from 900 employees in 2016 to over 4,000 currently.
Milwaukee Tool has established research, development, and manufacturing operations across several Wisconsin cities, including Brookfield, Milwaukee, West Bend, Mukwonago, and Sun Prairie. The company’s Chief Financial Officer noted that this latest investment will play a crucial role in enhancing its ability to innovate and maintain leadership in manufacturing from Wisconsin.
Governor Tony Evers has recognized Milwaukee Tool as a notable success story and an essential economic powerhouse within the state. Community members in Menomonee Falls have expressed enthusiasm over the expansion and its potential impact on local traffic and businesses, indicating a positive reception of the project.
As demand for Milwaukee Tool’s products grows, the expansion in Menomonee Falls illustrates the company’s commitment to not only increasing production capabilities but also to strengthening the local economy through job creation. The new facility is anticipated to further establish Milwaukee Tool as a leader in the manufacturing sector while also fostering local development and economic growth.
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