Milwaukee Machine Works Inc. will receive a $10 million Wisconsin Industrial Revenue Bond to help it purchase and renovate its 74,000-square-foot plant at 404 S. 116th St.
The estimated total cost of the project is $14.3 million. The renovation is expected to add 17 new positions in West Allis, where the company now employs 82.
Milwaukee Machine Works designs and manufactures custom-made assembly equipment. Using large, high-powered and high-tolerance equipment, the company is able to machine pieces as large as 44,000 pounds.
Milwaukee Machine Works is a portfolio company of Industrial Manufacturing Company. Its other portfolio companies include Cleveland Gear Co. and Columbia Gear Corpo.
Milwaukee Machine Works plans to use the bonds to purchase the land and facility, improve the facility and acquire equipment.
"Facing the current economic situation, it’s important we continue to invest in companies like Cleveland Gear that are creating good, family-supporting jobs for our citizens," said
Wisconsin Gov. Jim Doyle.
Industrial Revenue Bonds are free of federal tax issued by local governments, and the proceeds are loaned to new or expanding businesses for development projects. The interest rate is generally below the going prime rate. For more information about the Wisconsin Department of Commerce and its programs and services, visit http://commerce.wi.gov/BD/BD-AreaDevManagers.html.
For more information about Milwaukee Machine Works, visit www.milwaukeemachineworks.com.