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Brookfield-based Milwaukee Electric Tool Co. announced today that it plans to build a 200,000-square-foot office space expansion to its corporate headquarters at 13135 W. Lisbon Road and will add 500 jobs.

Milwaukee Electric Tool is planning a $33 million expansion of its headquarters in Brookfield. Under the company’s plans, a 200,000-square-foot, four-story office building would be built on the campus, adjoined to the current main facility.

Milwaukee Electric Tool currently has 800 employees at its headquarters campus in Brookfield. The company estimates that 300 new jobs would be added in the next three years, and 500 in the next five years. The majority of these new positions will be focused around engineering and marketing.

“We are now the fastest growing tool brand in the world offering a complete array of innovative solutions in cordless power tools, professional hand tools, accessories and more,” the company said in a statement. “Milwaukee Tool has more than outgrown our current facility and is eager to expand our operations to support our future growth expectations.”

The cost of the expansion project is estimated at $33 million. City of Brookfield officials are offering to provide $6 million in tax incremental financing to assist the project.

“We are prepared to work with Milwaukee Tool and the other partners in this project to continue their tremendous growth at this campus,” said Brookfield Mayor Steve Ponto. “We expect that they will grow to be our largest employer in the next few years, and we are talking about high quality, family-supporting jobs.”

Milwaukee Electric Tool executives are working with officials from Brookfield, Milwaukee 7 and the Wisconsin Economic Development Corp. on the project. The company says it has applied to the WEDC for assistance with the project.

“Milwaukee Tool is exploring other options for the needed office space to facilitate its continued growth, but would prefer to keep all of its product research, design, and development within the campus,” the company said in a statement. “Along with our local partners we are working diligently on a solution that provides our employees the necessary facility space to continue driving innovation and jobs growth in Brookfield.”

“Expansion like the one being considered by Milwaukee Tool are highly sought-after by places around the U.S.,” said Jim Paetsch, vice president of Milwaukee 7. “These jobs are dead-center the kind we want in southeastern Wisconsin. Milwaukee Tool is a significant employer of graduates from engineering schools such as MSOE, Marquette, UW-Milwaukee and UW-Madison. Milwaukee Tool is a substantial economic driver for our region.”

In addition to the planned office building, the company plans to purchase a 3.5 acre site across Lisbon Road from the current facilities for green space, parking, and potential longer term expansion. That site would be sold to the company by Wauwatosa-based Wangard, which will be Milwaukee Electric Tool’s lead development and construction management consultant. The site was originally planned as a third phase of Eastgate Business Center, which was developed by Wangard.

View the full press release as recently posted on the BizTimes website. To learn more about Milwaukee Electric Tool Company, please visit their company page.