Last updated on July 2nd, 2019 at 10:59 am
Federal Tool & Engineering LLC plans to move its Cedarburg operations into a building it owns in West Bend.
The company will add 49,000 square feet to the existing 21,000-square-foot facility at 2150 Stonebridge Road. The project is expected to cost about $2.7 million, said Christian Tscheschlok, executive director of Economic Development Washington County.
“We are thrilled about our company’s anticipated move to West Bend. City and county officials have been very cooperative and welcoming,” said David Tomczek, president of Federal Tool. “We were drawn to West Bend because of their energetic work force, easy access to Hwy 45, and Moraine Park Technical College’s new Jackson Regional Center. We are confident this is a winning decision for our business.”
Federal Tool has about 55 employees who will move to the new facility, and it will add an another 10 jobs as a result of the expansion, Tscheschlok said.
“What they’ve done is outline an opportunity for a project to
consolidate their facilities in West Bend in a property that they already own and then engage in an expansion to support that consolidation,” he said. “As a result, we put out a term sheet that describes terms of a revolving loan offer of $200K from Washington County.”
Tscheschlok couldn’t discuss the specifics of the terms yet because the loan is still under discussion with the company.
The City of West Bend approved Monday plans to match the $200,000 revolving loan, which would be administered and underwritten by the EDWC.
“While there remains work to be done in bringing this important deal to fruition, EDWC is pleased to be partnering with the City of West Bend in offering Federal Tool a competitive package designed to secure this growth opportunity,” Tscheschlok said. “Even though this high level of collaboration between city and county may be business as usual here, it is pace setting for the region and state. EDWC is excited that companies are demonstrating through their expansion choices that Washington County is a successful place for doing business.”