MILWAUKEE- After several weeks of back and forth over tax incentives, Milwaukee Tool’s quest to move into downtown has gotten the go-ahead.
The Milwaukee Common Council this morning giving the thumbs up to the company, which plans to redevelop the five story, 350-thousand square foot office building at the corner of 5th and Michigan. The property used to be home to Assurant Health until it shut down in 2016.
The Council voted 15-0 this morning to allocate $20-million in tax incentives to allow the company to move forward on the project. The entire project comes with an estimated price tag of $46.6 million and could create 1,200 new jobs.
The downtown renovation project is slated to begin on September 1st, with a targeted completion date of January 2022.