WEDC awards tax credits for company’s expansion to former Joy Global plant; project expected to create 125 jobs
MADISON, WI. July 28, 2017 – Steele Solutions Inc., the leading manufacturer of industrial mezzanines and other steel structures, is expanding its operations and will soon begin operations at the former Joy Global plant in Milwaukee.
The Franklin-based company is outgrowing its current facilities due to growing customer demand and will renovate the former Joy Global plant into a manufacturing and distribution facility. The 200,000-square-foot plant, located on West Orchard Street near Miller Park, has been vacant since early 2016.
Construction on the project began in April, and the company expects to begin operations there by early fall.
The expansion will enable Steele Solutions to more than double its manufacturing capabilities and will significantly increase warehousing capacity to accommodate current and projected demand for its products.
“Steele Solutions has grown every year since we were founded in 1996, and we expect that growth to continue in the foreseeable future,” said company CEO Michael Thelen. “The new facility will allow us to more efficiently handle the needs of our current customers and position us for future growth in new markets.”
This marks the company’s seventh expansion project – it had three additions at its former location in Waukesha and three at its current facility in Franklin. The expansion will not affect operations at the company’s headquarters in Franklin.
The Wisconsin Economic Development Corporation (WEDC) is supporting the project by authorizing up to $596,000 in state income tax credits over the next three years. The actual amount of tax credits Steele Solutions will receive is contingent upon the number of jobs created and the level of capital investment over that time.
“I congratulate Steele Solutions on yet another expansion project and thank the company for its continued commitment to growing in southeastern Wisconsin,” said Mark R. Hogan, secretary and CEO of WEDC, the state’s lead economic development organization. “This is good news for the city of Milwaukee and the region, as manufacturing will once again get underway at this facility.”
Steele Solutions Inc. is the industry leader in the design and fabrication of steel mezzanines, mezzanine systems, work platforms and other steel structures used in material handling, industrial processing, equipment support, access and other applications. The company has product installations in all 50 states and throughout the world that are used by companies of all sizes — including nearly every major national retailer and every major distribution and fulfillment company.
In addition to the 125 jobs expected to be created by Steele Solutions, an economic modeling study estimates the expansion could indirectly generate 204 additional jobs in the region. Those 329 new jobs could generate up to $2.8 million in state income tax revenue over a five-year period.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive environment. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit www.inwisconsin.com or follow WEDC on Twitter @InWisconsin to learn more.