|
October 5, 2007
Exciting Economic Development in Milwaukee
Stronger Neighborhoods Agenda
A stronger Milwaukee means stronger neighborhoods, and I am proud to share information with you about my Neighborhood Business Development Team, a key part of my Stronger Neighborhoods agenda. They're linking local businesses with resources to grow. Combining business development with neighborhood improvement is vital to successful and sustainable growth in Milwaukee. We're using all available economic development tools to leverage jobs, attract new businesses, add new housing and spark private investment in areas throughout Milwaukee.
Since 2004, we've invested $3.5 million in more than 320 neighborhood businesses, leveraging an additional $21.5 million in private investment and leading to the creation of more than 176 new jobs. These investments have included matching grants for building improvements, equipment purchases and business expansions.
Through aggressive use of economic development tools such as Tax Incremental Financing, we're helping businesses and property owners bring new vitality to a neighborhood near you. Out of 15 TIF Districts created since I took office, nine are neighborhood-focused. Overall, our use of this tool will lead to the creation of 3,317 jobs and a $357 million increase in Milwaukee's tax base.
Last week I signed legislation to invest $5 million in four Stronger Neighborhoods projects to boost business and further improve our neighborhood commercial districts. You can read more about these projects here: http://www.mkedcd.org/news/2007/StrongerNeighborhoods.pdf
Menomonee Valley Momentum Grows: Breaking News!
Milwaukee is using its land to grow businesses, and there's no better example than the Menomonee Valley. Once the state's largest brownfield, today it's Wisconsin's most prime industrial real estate and a generator of job growth.
I'm pleased to announce that a fifth company will grow in our Menomonee Valley Industrial Center, on the west end. We're proposing to sell land in the Valley for a $10 million light-manufacturing facility for Derse Inc., a national company known for high-tech, large-scale exhibition booths for clients including Harley-Davidson, Miller Brewing, Abbott Laboratories, Coca-Cola and others. The company will be positioned to grow with a move to the Valley, adding 20 new jobs to its 140-employee workforce.
Derse Inc. would join the recently opened Caleffi, an Italian manufacturing firm specializing in hydronic heating and cooling systems. I was proud to lead a grand opening ceremony for Caleffi's North American headquarters. Its new 35,000 square foot facility will also house a new research and development laboratory, assembly operations; as well as engineering, sales training and customer service sectors. Caleffi joins Badger Railing and Palermo's in our growing Menomonee Valley Industrial Center.
With the opening of the Caleffi facility, and the future opening of Taylor Dynamometer's new $4 million manufacturing plant that is currently under construction, the four companies that comprise the Menomonee Valley Industrial Center add 428 jobs to Milwaukee. Overall, throughout the Valley, company expansions will result in 2,100 new jobs and 2,000 additional construction jobs.
The opening of this new facility speaks to the continuing success of our efforts to grow opportunities and strengthen neighborhoods. Louisville is looking to the Menomonee Valley as a model for renewal, according to a recent article in the Louisville Courier-Journal. The 30th Street Industrial Corridor is our next long-range renewal project, and I know it will take the same commitment of strong partners to work together to bring additional opportunity and vitality to this cross-section of Milwaukee.
Celebrating the Culture and Commerce Along Cesar Chavez Drive
Recently I joined business owners along Cesar Chavez Drive to unveil the banners which will mark one of Milwaukee's dynamic Hispanic business districts. The street banners were placed along Cesar Chavez Drive a few days prior the annual Mexican Independence Parade.
My Neighborhood Business Development Team joined with business owners along Cesar Chavez Drive to form a Business Improvement District with specific goals to: add to the visual appeal of the commercial district, improve public safety and create special events to attract additional businesses and customers to this cultural mecca of commerce.
There are 40 Business Improvement Districts and four Main Street Milwaukee Districts working hard with my team to improve your neighborhoods.
To learn more, visit the Department of City Development's website at www.mkedcd.org
Sincerely,
Mayor, City of Milwaukee
Visit my website at: http://www.city.milwaukee.gov/mayor
|