Jobs, Economic Development Springing Up in Park East
On the Park East development alone, more than 10,000 jobs are expected to be created over the course of the development project.
County Executive Chris Abele speaks as a press conference in 2014. Photo by Jeramey Jannene.
MILWAUKEE – After sitting vacant and undeveloped for 15 years, ninety-eight percent of the land in the Park East Corridor is either under development or has an option to purchase, Milwaukee County Executive Chris Abele announced today, the first business day of spring.
The announcement was made on the construction site at 3rd and Juneau, where the county executive, community leaders, business leaders, and representatives from the Building Trades gathered to celebrate the progress on the Park East Corridor.
“More than half a billion in new development has been planned or developed in the Park East since 2011. This means shovels are already in the ground and people are already working because of the vision we had for the Park East and the commitment we made to develop this property as part of Milwaukee’s ongoing renaissance,” Milwaukee County Executive Chris Abele said. “The potential for the Park East is finally turning into action. That action is resulting in hundreds of millions of dollars in economic activity, to include good-paying salaries for workers right now. But the best is yet to come.”
Bulldozers and excavation equipment were brought to the site in early March. “14 jobs are created for every $1 million spent on this type of construction project, and every dollar spent generates $1.92 in economic impact. In the case of the $1 billion-plus planned development projects , this could translate into over 14,000 jobs — more than half of which will be in construction — and almost $2 billion in overall economic impact,” said Ken Kraemer, Executive Director for Building Advantage. “Significant work has already begun and the arena hasn’t even broken ground.”
On the Park East development alone, more than 10,000 jobs are expected to be created over the course of the development project.
Deshea Agee, Executive Director of the Historic King Drive BID #8, which includes northside neighborhoods where job creation efforts like the County’s UpLift MKE program have been focused, said, “Investment in the area north of the arena will transform our community and create family-supporting careers for people who need them.”
To learn more about some the development highlights in the Park East, click here.
About Park East:
The Park East is comprised of visible, vibrant and versatile urban development parcels adjoining Milwaukee’s central business district. Ideally positioned with easy access to major interstate freeways, local thoroughfares, public transit and walkable neighborhoods, the available property connects major education institutions, corporate headquarters, cultural/entertainment/hospitality offerings, bustling development, the award-winning RiverWalk and more. For more information, visit parkeastmke.com
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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