Gov. Scott Walker is joining local officials and Milwaukee Tool executives this afternoon for a groundbreaking ceremony for a $32 million expansion at the company’s headquarters.
It is the second time since 2016 Walker has participated in a groundbreaking ceremony at Milwaukee Tool. It is also the company’s second major expansion project in that time period that received millions in state support.
The 2016 addition of a more than 200,000-square-foot office building was boosted by $18 million in state tax credits. BizTimes reported in May that the Wisconsin Economic Development Corp. approved an amendment to that contract giving the company the opportunity to earn another $8 million in tax credits.
Through the end of March, the company has earned nearly $3 million in credits for creating 251 new jobs, retaining 820 jobs and investing $36.6 million in capital improvements. Ultimately the company has to add 942 jobs and invest $67 million to earn all of the credits.
Milwaukee Tool has been growing rapidly in recent years, increasing revenue by nearly 22 percent last year as it emphasizes innovation in cordless power tools. The company first crossed $2 billion in revenue in 2015 and the last two years of growth would put it at least close to $3 billion in revenue.
The growth has led to continued expansion in Brookfield and at the company’s Empire Level operations in Mukwonago.
Wisconsin won out over Mississippi – which offered $17 million in incentives – for the latest expansion, a 114,500-square-foot office building that will be built on the north side of Lisbon Road. The rest of the company’s headquarters is located on the south side of the road.
