In $20 million deal with city, Milwaukee Tool could expand to downtown office by October
In the agreement, the city would provide $20 million in cash grants if Milwaukee Tool brings in 2,000 jobs
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Updated: 10:43 PM CDT Apr 27, 2021
In $20 million deal with city, Milwaukee Tool could expand to downtown office by October
In the agreement, the city would provide $20 million in cash grants if Milwaukee Tool brings in 2,000 jobs
Share
Updated: 10:43 PM CDT Apr 27, 2021
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CAROLINE: THAT’S RIGHT. THE CITY WOULD BE COVERING ITS EXPENSES THROUGH TAX INCREMENTAL FINANCING. THIS WOULD BE AN EXPANSION PROJECT FOR MILWAUKEE TOOL. THE BUILDING BEHIND ME SAT VACANT FOR YEARS, AND MOST RECENTLY, IT WAS WHERE BALLOTS WERE COUNTED FOR THE GENERAL ELECTION. MILWAUKEE TOOL PRODUCTS ARE ALL OVER THE CITY IN STORES LIKE BLIFFERT LUMBER IN RIVERWEST. BUT THE COMPANY ITSELF HASN’T BEEN LOCATED IN MILWAUKEE SINCE ITS HEADQUARTERS MOVED TO BROOKFIELD IN 1965. NOW, A TENTATIVE DEAL BETWEEN THE RAPIDLY GROWING COMPANY AND THE CITY COULD CHANGE THAT. >> BEING DOWNTOWN IS AN ATTRACTION THAT SIMPLY JUST ISN’T THE SAME AS THE SUBURBS. ESPECIALLY FOR YOUNGER EMPLOYEES. AND IT’S A COMPANY THAT WANTS TO ATTRACT A MORE DIVERSE WORKFORCE AND BEING IN THE CITY HELPS THEM ACCOMPLISH THAT AS WELL. CAROLINE: THE DEAL IS THE CITY WOULD PROVIDE UP TO $20 MILLION IN TAX BREAKS FOR MILWAUKEE TOOL TO RENOVATE THE VACANT BUILDING AT 5TH AND MICHIGAN, AND BRING IN UP TO 2000 JOBS. A LOT OF THE JOBS WILL BE HIGH PAYING ENGINEERING POSITIONS AT AN AVERAGE OF $75,000 A YEAR. BUT THE CITY HAS ALSO NEGOTIATED A $15 AN HOUR GUARANTEE FOR JANITORIAL AND WAIT STAFF. >> MILWAUKEE TOOL RIGHT NOW IS THE MOST EXCITING COMPANY IN SOUTHEASTERN WISCONSIN. THE GROWTH THEY'RE EXPERIENCING IS SUBSTANTIAL, IS PHENOMENAL, QUITE HONESTLY. CAROLINE: MAYOR BARRETT SAYS THIS WOULD BE THE LARGEST INFUSION OF JOBS THE CITY HAS SEEN IN DECADES. >> I THINK MANY PEOPLE ARE IS WHAT OUR OFFICE IS GOING TO LOOK LIKE POST-PANDEMIC? THIS MAJOR COMPANY SAYING WE WANT TO HAVE OFFICES FOR PEOPLE, WE WANT TO HAVE PLACES FOR PEOPLE TO COME TO THE CITY OF MILWAUKEE TO WORK, I THINK AGAIN IT’S A GREAT SHOT IN THE ARM FOR THE CITY. JOYCE: OK, SO THE MAYOR BACKS IT, BUT THERE WILL BE A MEETING NEXT MONTH. WHAT ELSE ARE THEY CONSIDERING WITH THIS PLAN? CAROLINE: MILWAUKEE TOOL WOULD HAVE TO PROVIDE A REGULAR JOBS REPORT TO THE CITY. ONE ALDERWOMAN CALLED ON THE COMPANY TO ALSO INCLUDE THE RACE, GENDER AND RESIDENCY OF THOSE HIRED EMPLOYEES, AS WELL AS THE SERVICE SECTOR THOSE JOBS CATER