WAUKESHA, Wis. (AP) — Power manufacturer Generac has announced plans to expand its presence in Wisconsin by adding 700 new jobs and investing $53 million in its operations.
Waukesha-based Generac said demand for its generators and other power products is soaring.
“Generac is experiencing phenomenal demand and growth as the combination of an aging (electricity) grid and extreme weather are resulting in more frequent and longer-lasting power outages,” said Aaron Jagdfeld, president and CEO of Generac. “We are proud to continue to expand our presence in Wisconsin as we work to meet the incredible market demand.”
The state will provide $19 million in tax credits if Generac meets hiring and capital investment goals, according to the Wisconsin Economic Development Corp.
The company’s additional $53 million investment includes the recent expansion of its corporate operations into the village of Pewaukee with the purchase of a new building, plus the creation of 700 new manufacturing and office jobs throughout the state by the end of 2024.
The new Pewaukee office will house 300 employees, allowing the company to continue expanding its research and development and headquarters functions.
In addition to Waukesha, Generac has facilities in Eagle, Whitewater, Jefferson, Oshkosh, Berlin and Janesville. The company’s global headquarters will remain in Waukesha.
Generac was founded in Wisconsin in 1959 when it introduced the first affordable backup generator and later created the category of automatic home standby generator. That created a market in which nearly eight of 10 generators sold is a Generac.