Milwaukee Tool to expand corporate operations into downtown Milwaukee
MILWAUKEE (CBS 58) --- Milwaukee Tool announced the expansion of their corporate operations into downtown Milwaukee on Tuesday, May 4.
The company will invest more than $30 million to purchase and renovate a vacant 350,000-square-foot building on 501 W. Michigan Street in Milwaukee, officials say.
The company's current global headquarters has been in Brookfield since 1965. It will remain the central location for the company's corporate operations.
Officials say this new expansion will provide increased space and is anticipated to open in October. It will house at least 1,210 employees within the next three years.
“Over the past ten years we’ve grown at an incredible rate, not just across the country and the world, but also at our global headquarters in Wisconsin. By extending our corporate presence into downtown Milwaukee, we are poised for continued growth. As one of the largest employers in Southeastern Wisconsin, we’re thrilled to expand our presence in the city, as we continue to attract, retain, and recruit from a diverse pool of local talent,” said Steve Richman, Milwaukee Tool Group President.
The company also has the option to expand the office space by adding 150,000-square-feet for up to an additional 790 employees, officials say.
“Milwaukee Tool is growing, and I am very pleased our city is part of that growth,” Milwaukee Mayor Tom Barrett said. “The investments coming to West Michigan Avenue are notable, and the jobs Milwaukee Tool is adding to the center of our community are outstanding.”