Milwaukee Tool’s new $32 million research and development center in Brookfield will get $8 million worth of state incentives, officials announced on Friday.
During a groundbreaking ceremony for the new center, officials announced Milwaukee Tool will receive an incentive from the Wisconsin Economic Development Corp. to support the construction of the company’s latest project in Brookfield. This latest expansion is expected to create 350 jobs.
It comes two years after Milwaukee Tool started work on a 200,000-square-foot expansion of its expansion. That expansion, which received $18 million worth of WEDC tax credits, created 600 jobs and is expected to result in $67 million in capital investments through 2022.
The amount of incentives the WEDC offers depends on how much a company invests and how many jobs it creates and retains. Milwaukee Tool officials said they are grateful for the help.
“When you look at the growth our company has achieved in the last decade, the catalyst for our success has been our people. The drive, determination, and obsession of our employees has enabled us to continue delivering disruptive innovation for the professional trades and our distribution partners,” said Steve Richman, Milwaukee Tool Group President. “We are proud to partner with the State of Wisconsin to grow world-class work environment that will continue to attract, retain, and recruit the best talent in the world.”
Milwaukee Tool’s expansion is taking place on a 3.5-acre site north of Lisbon Road in Brookfield. The company bought the land from Wangard, the developer of the Eastgate Business Center. The firm will also serve as Milwaukee Tool’s lead development and construction-management consultant.
The company’s new center will be used for advanced manufacturing, engineering and global research and development. Work on the 114,500-square foot building is scheduled to begin in the third quarter of this year and wrap up by the end of 2019, bringing the total size of the company’s headquarters to 504,500 square feet.
“We thank Milwaukee Tool for its continued expansion in the City of Brookfield,” said Brookfield Mayor Steven Ponto. “We value Milwaukee Tool as a great corporate citizen and the jobs that are being created are high level, family supporting jobs which benefit our city and the metropolitan area.”Follow @natebeck9