Foamation Inc., the maker of Wisconsin’s iconic cheesehead hat, plans to move from St. Francis to a larger location in Milwaukee.
The 29-year-old company has applied for a $411,000 loan from the Milwaukee Economic Development Corp. to purchase a 15,920-square-foot, 116-year-old building at 1120 S. Barclay St. The building has an assessed value of $780,000, according to city records.
“We’re hoping to be there by the later part of the summer,” said Ralph Bruno, the company’s owner.
The company is currently located in a 5,000-square-foot building at 3775 S. Packard Ave., where it does all of its manufacturing. Bruno said he hopes to add 16 positions (8 full-time and 8 part-time) within the next year. The company currently has 15 employees (13 full-time and 2 part-time).
MEDC’s Loan and Finance Committee is to consider the loan request at its April 12 meeting.
