City approves $20M Milwaukee Tool grant for downtown corporate office
Rendering: Milwaukee Tool corporate office
MILWAUKEE - The Milwaukee Common Council approved on Tuesday, May 4 a $20 million grant to a suburban-headquartered tool company to expand its corporate operations in the downtown core, bringing in a projected 1,200 employees over the next several years, and the prospect of more.
Milwaukee Tool is planning to acquire and renovate a vacant 350,000 sq. ft. office building at 501 W. Michigan. The Brookfield-based manufacturer is expected to spend at least $30 million on renovating the property, most recently occupied by Assurant in 2016, for 1,210 employees. The company may also add additional floors to the building for an additional 790 employees.