Charter Wire, a division of Mequon-based Charter Manufacturing Co. Inc., is doing site work to begin preparations for the $20 million, 69,000-square-foot addition that it will build at its 160,000-square-foot plant in the Menomonee Valley in Milwaukee.
Charter Wire moved to the facility when it was built in 2009, leaving its former location in the Historic Third Ward in Milwaukee.
The company plans to add 35 jobs as part of the expansion. Currently 116 employees work at the Menomonee Valley plant, located at 3700 W. Milwaukee Road.
The expansion project costs includes $14 million for new equipment and $6 million for the building expansion.
The project received a $20 million new markets tax credits allocation, worth about $6.4 million as a monetized credit.
“The expansion of Charter Wire in Milwaukee’s Menomonee Valley is great news,” said Milwaukee Mayor Tom Barrett. “The Milwaukee Economic Development Corp. has stepped up with new markets tax credits, and the Redevelopment Authority of the City of Milwaukee has worked with Charter Wire on its real estate needs. It’s a partnership to support job creation and Charter Wire’s continued growth.”
“Growth opportunities in the markets we serve have led Charter Wire to expand our existing facility,” said Mark Wild, vice president and general manager for Charter Wire. “This expansion is occurring approximately five years following our move to the Menomonee Valley – a sign of our on-going commitment to our employee-teammates and the City of Milwaukee. We appreciate the partnership we have enjoyed with the Milwaukee Economic Development Corp. and their continuing support of our business. Our growth is made possible by the dedication, effort, customer-focus and drive for continuous improvement demonstrated by every member of the Charter Wire team, and it affords us the opportunity to create about 35 new, family-supporting jobs in the community.”