The state will provide up to $18 million in tax credits to a tool manufacturer in the Milwaukee suburb of Brookfield to help it add nearly 600 jobs at its headquarters over the next five years.
Gov. Scott Walker announced the aid package for Milwaukee Electric Tool at a groundbreaking ceremony for the company on Monday. Walker said the Wisconsin Economic Development Corporation is including requirements to protect taxpayers: The company must retain all of its employees at its sites in Brookfield and Mukwonago, in addition to adding the other jobs.
“To get those credits at that full amount, they’ll have to earn it,” said Walker.
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Walker said most of the new jobs will be in engineering, marketing and administration.
The state’s “Enterprise Zone” designation and certification for earning tax credits will last six years. The City of Brookfield will also help the tool-maker by creating a special tax district.
About 15 years ago, Milwaukee Electric Tool moved production jobs to the southern U.S. and overseas.
Correction: Due to an editorial error, WEDC support was originally described as a grant in this story’s original headline. However, the WEDC aid will be in the form of tax credits, not a grant.
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