J.W. Speaker Corporation expands operations in Germantown
New expansion will create 100 jobs, $46 million capital investment
MADISON, WI. JUNE 6, 2018 – J.W. Speaker, a family-owned specialty lighting manufacturer, is expanding its manufacturing facility by an additional 140,000 square feet in Germantown – a $46 million project expected to create 100 new jobs over the next three years.
“I congratulate J.W. Speaker on this major expansion and commend the company for its continued investment in the state of Wisconsin,” said Mark R. Hogan, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development organization. “This project further strengthens the Milwaukee area’s economy and opens up new opportunities for workers throughout the region.”
“Despite the already healthy Wisconsin business environment, we found the state and local funding agencies very welcoming and supportive of our expansion plans,” said Jamie Speaker, co-president of J.W. Speaker.
WEDC is supporting the project by authorizing up to $450,000 in state income tax credits over the next three years. The actual amount of tax credits J.W. Speaker will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
The expansion will provide the company flexibility for its current operations, help alleviate capacity constraints, and allow for additional expansion in the future.
This proposal is the largest and most transformational project the company has undertaken at a single time. J.W. Speaker is committed to continuing its growth in Wisconsin, and state and local incentives played a critical role in securing project approval.
In addition to the 100 jobs expected to be created by the company, an economic modeling study estimates the project could indirectly generate 75 additional jobs in the region. Those 175 new jobs are expected to generate over $1.7 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 wedc.org or follow WEDC on Twitter @WEDCNews to learn more.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
