According to the Wisconsin Department of Revenue’s 2010 Statement of Assessments, the Village of Menomonee Falls has the third-highest manufacturing real estate assessed value in Wisconsin. In 2010, the Village had over $288 million in manufacturing assessed value, behind only Milwaukee and Green Bay. Consistent with past years, the industrial areas of the Village attracted several projects in 2010 and account for much of the new and projected job growth in the community. A few of the approved industrial projects are described below.
Led by the momentum from its 132,000-square-foot industrial expansion of the former Bemis Kelch building in 2009, Actuant Corporation is constructing a new 81,000-square-foot corporate headquarters across the street in the Westbrook Corporate Park. This prominently sited building will host Actuant’s administrative offices and leadership from several of its business segments. This building, which will house about 175 employees, will also incorporate a training facility, where employees from across the world can interact with corporate leaders.
The corporate headquarters of Kohl’s Department Stores is the centerpiece of the Silver Spring Corporate Park. The park incorporates 162 buildable acres, plus several wooded areas and wetlands.
Wacker Neuson operates a 430,000-square-foot manufacturing plant in the industrial area north of Highway 45, between Pilgrim Road and Fountain Blvd. The company, which has about 360 employees, is in the process of adding over 97,000 square feet of space, with additional expansions planned. The expansions estimate an additional 100 jobs to be added.
A 48,500-square-foot building was approved on the southeast corner of Lilly Road and Warren Street for the relocated WE Energies Service Center. This facility is moving from the existing facility on Water Street to make way for the ongoing redevelopment efforts in Tax Incremental District No. 8.
Directly to the east of Quad Graphics on Shawn Circle, NCL Graphic Specialties, Inc. obtained approval for a new 60,220-square-foot building allowing the commercial printer to service consumer product companies while centralizing their distribution channels.
Located in the Falls Business Park, Milwaukee Bearing & Machine, a manufacturer of Babbit bearing systems, obtained approval for two additions. The approvals are for a 7,668-square-foot manufacturing addition and a 1,605-square-foot heat treatment addition to the existing 40,736-square-foot building.
Entrust Tool & Design, a manufacturing of precision machine tools and automation serving the aerospace, energy, medical and automotive industries, has been located on Shawn Circle since 1974. In 2010, Entrust obtained approval for a 55-foot-tall, 22,835-square-foot addition to the existing facility.
More than 250 traditional and high-tech manufacturing firms and related businesses call The Falls home. They produce everything from robotic systems and medical instruments to oxygen sensors, atmosphere control systems, computer furniture, printed circuit boards and a variety of metal and plastic products. A wide range of banking and financial services, including the largest capital management firm in the state, serve Menomonee Falls.
The Falls offers special low-interest loans designed to attract new business and expand facilities of existing firms. The Village’s economic development loan funds are available to assist businesses seeking to start-up, relocate or expand in The Falls.
Menomonee Falls as a Business Location
Primary comparative advantages include the following:
• accessibility to key transportation links and a central location within the Milwaukee region
• lower property taxes than prevailing locations in nearby communities
• labor accessibility through a wide commute-shed
• proximity to a diverse set of housing options
• a safe and secure location with excellent municipal services
• a location in part of the region that is experiencing population and housing growth that represents both a source of labor, as well as demand for goods and services, high-quality office parks and agglomeration advantages for industrial space users with linkages to suppliers and customers and a large pool of trained labor
Employment in Menomonee Falls has remained relatively stable. Service sector employment increased at a high rate due mainly to fast growth in the professional and business service sectors and the educational and healthcare sectors, which together comprise about 80 percent of service sector employment. Service sector employment in Menomonee Falls has grown much faster than for Waukesha County overall.
Employment in the retail trade sector in Menomonee Falls has grown quickly since 2001. Wholesale trade employment has experienced variances but also an increase in employment. Construction employment decreased between 2001 and 2003 but increased to its peak employment in 2005.
Total employment in Menomonee Falls from 1998 to 2000 grew very fast at about five percent annually, or over 1,200 jobs per year. The fastest-growing sector was finance, insurance and real estate.
A recent employment forecast estimates about 7,279 total added jobs between 2005 and 2020. This equates to an average annual growth rate of 1.60 percent, or an average of 503 jobs per year. Economic sectors associated with office-space consumption, some services and finance, insurance and real estate are forecast to approximate 288 jobs per year between 2005 and 2020. This equates to a growth rate of 2.5 percent for the services sector and 1.25 percent for the finance, insurance and real estate sector, or 40.54 percent of total net job growth. The estimated construction and resources employment is at one percent. Employment in manufacturing, wholesale trade and transportation, utilities and information is forecast to increase on average by 44 jobs per year or about 9 percent of total job growth.
Forecast Building Space Demand
Between 2005 and 2020, approximately 3,950 office space-using workers are estimated to be added to the employment base of Menomonee Falls. This forecast employment growth is estimated to result in average annual demand of about 62,000 square feet of space for a total of approximately 934,000 square feet of office space over the next 15 years.
Between 2005 and 2020, approximately 1,333 industrial space-using workers are forecast to be added in Menomonee Falls. This employment is estimated to result in total space demand of 1,953,000 square feet for manufacturing and distribution facilities. Of this total, approximately 1,220,000 square feet of space demand is likely to be for distribution uses and 733,000 square feet of space is likely to be for manufacturing uses. This long-term forecast equates to average annual demand of 130,000 square feet of industrial space.
SCORE (Senior Core of Retired Entrepreneurs) offers free consultation services hosted and sponsored by the Menomonee Falls Community Chamber. These services are targeted to new start-ups and existing businesses looking for help with anything from business plans to marketing strategies. Contact the Chamber office for more information at 262-251-2430.
The Menomonee Falls Community Chamber, Village government and local educational institutions all work in harmony toward economic growth and community betterment.
Employment forecast of jobs to be added in Menomonee Falls through 2020
Industry Sector — — — — — — — 2005 — 2020
Agriculture & Mining & Construction — — — 2,038 — 2,366
Manufacturing — — — — 8,425 — 9,079
Transportation, Communication & Utilities — — — 851 — 917
Wholesale Trade — — — — 1,968 — 2,460
Retail Trade — — — — 3,038 — 4,089
Finance, Insurance & Real Estate — — — — 1,405 — 1,693
Service Industries — — — 10,418 — 15,088
Total Employment — — — — 28,413 — 35,692
Source: Gruen Gruen + Associates
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