An Economic Development Update from the Wisconsin Economic Development Corporation
Menomonie business wins Main Street Makeover Contest
Ted’s Pizza Palace in downtown Menomonie has been named the winner in the Wisconsin Economic Development Corporation’s (WEDC’s) annual Main Street Makeover Contest.
The restaurant, celebrating its 50th Anniversary in 2020, is a well-known local dining destination owned by Jim and Kim Gounaikis. A downtown mainstay, the restaurant was selected as the winner of the makeover contest based on the business’s successful track record, clear community support and the potential to refresh the interior and exterior of the building to create an enhanced dining experience that will serve the business for the next 50 years as the restaurant transitions to a third generation as son Zach becomes more involved in the business.
Ted’s Pizza will receive personalized technical assistance and up to $10,000 to implement the changes, which will include interior improvements to renovate the dining area and improve customer flow, as well as exterior enhancements to increase visibility and pedestrian engagement. The goal of the makeover is to update the building and reinforce the restaurant’s brand for new visitors to Menomonie.
Milwaukee Tool expanding Wisconsin footprint
Gov. Tony Evers, together with senior leaders of Milwaukee Tool, local government officials, and regional economic development officials, announced that the company will be expanding its footprint in southeastern Wisconsin with a new campus in Menomonee Falls. Gov. Evers also announced that Milwaukee Tool will be expanding its Imperial Blades manufacturing operation in Sun Prairie.
Milwaukee Tool’s investment will lead to the creation of 870 new jobs by 2025. Milwaukee Tool expects to invest over $100 million to construct and outfit the Menomonee Falls campus, which will complement the company’s current Global Headquarters campus in Brookfield. Milwaukee Tool will also invest $7.5 million to expand its Imperial Blades subsidiary in Sun Prairie.
Since 2016, Milwaukee Tool has pledged to create up to 1,812 new jobs and invest $174.5 million in capital expenditures in Wisconsin over a five-year period. If it meets those benchmarks, the state will provide up to $46 million in tax incentives. According to WEDC’s economic modeling, those 1,812 jobs will directly generate about $7.2 million annually in state income taxes.
WEDC supports John Deere project to expand, add jobs
The Wisconsin Economic Development Corporation (WEDC) has authorized up to $250,000 in state income tax credits over three years for a project at John Deere Horicon Works. The company plans to invest $24 million to expand its manufacturing space and add 12 jobs over the next three years.
The actual amount of tax credits Deere & Company will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
Deere’s $24 million investment will add a 22,000-square-foot building and new equipment to improve cycle time of key business operations. In addition to the 12 jobs expected to be created by Deere & Company, an economic modeling study estimates the project could indirectly generate 14 additional jobs in the region. Those 26 total new jobs are expected to have an annual impact of $39,002 in state income taxes.
City of Shell Lake receives $250,000 state grant to support renovation of medical center
The City of Shell Lake is receiving a $250,000 state grant to help fund the remodeling of the Indianhead Medical Center (IMC) hospital and the renovation of the attached Shell Lake Clinic located in downtown Shell Lake.
Indianhead Medical Center (IMC) is a privately-owned 25-bed critical access hospital with a 24-hour emergency room and is accredited by the Joint Commission. The center has aided the community since it opened in 1947, and today offers services such as medical testing, consultation and rehabilitation, general surgery, urology, cardiology, podiatry, orthopedics, radiology and more.
The Community Development Investment Grant from the Wisconsin Economic Development Corporation (WEDC) will support the construction of a new 9,000-square-foot clinic building, an ambulance garage, a new sidewalk and street paving including a new parking lot, and the remodeling of the current emergency room and operating rooms. This project will be consolidating government and medical services at one central location in the heart of Shell Lake and is expected to be completed by June of 2020.
Door County boutique hotel breaks ground
Wisconsin Economic Development Corporation (WEDC) Deputy Secretary Sam Rikkers along with developers and state and local officials broke ground on the new Dörr Hotel in Sister Bay.
The Dörr Hotel project is Door County’s first hotel development in nearly 20 years, and is intended to complete the Sister Bay downtown area by developing a lot that has been vacant for more than nine years. The new boutique hotel consists of 47 rooms and 4,300 square feet of retail space.
WEDC is supporting the $8.1 million project with a $250,000 Community Development Investment Grant. The project is expected to be completed by the end of 2021 and to provide full-time employment for 10 to 15 employees.