Latest news with #WEDC
Yahoo
2 days ago
- Business
- Yahoo
Yaskawa America bringing North American headquarters and 700 jobs to Franklin
Yaskawa America is relocating its North American headquarters to Franklin − bringing 700 jobs and a $180 million investment. The robotics manufacturer is consolidating its Waukegan, Illinois, North American headquarters and its Milwaukee-area industrial operation into one Franklin campus over the next eight to 10 years. The consolidated operations will be in Franklin Business Park campus, at 2 World Packaging Circle. That's according to a June 13 announcement from Gov. Tony Evers, Wisconsin Economic Development Corp., and Yaskawa America. Franklin Mayor John Nelson called Yaskawa America a 'wonderful community partner." "We are grateful to Milwaukee 7 (M7) and WEDC for working with us over the last 22 month(s) to make this happen," Nelson wrote on his Mayor John Nelson - Franklin, WI Facebook page. M7 is southeastern Wisconsin's economic development organization. The new 800,000-square-foot headquarters will include training, lab building, manufacturing and packaging facilities, along with robotics and semiconductor production operations, according to the company. As part of the expansion into southeastern Wisconsin, Yaskawa America also plans to begin manufacturing robots in Franklin that will ship to customers or be integrated into production lines at the company's Ohio facility. 'I am really excited to be celebrating Yaskawa's decision to relocate its headquarters to Wisconsin and expand its footprint here in the Badger State, bringing with them millions of dollars in capital investment in Southeastern Wisconsin and hundreds of high-quality, family-supporting jobs,' Evers said in a statement. WEDC plans to provide up to $18 million of Enterprise Zone tax credits. The exact amount is contingent on how many jobs are created and the amount of capital investment. Missy Hughes, WEDC secretary and CEO, said Yaskawa America is a perfect fit for Wisconsin with the company's 'emphasis on advanced manufacturing and cutting-edge technology.' Mike Knapek, CEO of Yaskawa America, said the company looks forward "to a strong future of growth and innovation in Franklin." Yaskawa America manufactures industrial robots, solar inverters, low and medium voltage AC drives, and motion control products, according to its website. These products are used in such industries as automotive, machine tool, solar, oil and gas and HVAC. The company is celebrating its 110th anniversary globally with 58 years of sales and manufacturing in the United States. Contact Erik S. Hanley at Like his Facebook page, The Redheadliner, and follow him on X @Redheadliner. This article originally appeared on Milwaukee Journal Sentinel: Yaskawa America bringing headquarters and 700 jobs to this suburb
Yahoo
3 days ago
- Business
- Yahoo
Milwaukee County small business development program approved
The Brief Milwaukee County has a new small business development program. County Executive David Crowley signed legislation on Wednesday, June 11 to approve the new Building Bridges program. The program will create a new small business liaison position to provide technical support and administer $10,000 grants to small businesses across Milwaukee County. WEST ALLIS, Wis. - Milwaukee County Executive David Crowley signed legislation on Wednesday, June 11 at West Allis City Hall approving the new Building Bridges small business development and commercial corridor activation program. What we know A news release from the county says the Building Bridges program will create a new small business liaison position to provide technical support and administer $10,000 grants to small businesses across Milwaukee County. The goal is to expand resources to establish or expand brick-and-mortar businesses in Milwaukee County while fueling commercial corridor revitalization. Milwaukee County Economic Development was recently awarded $200,000 from the Wisconsin Economic Development Corporation (WEDC) for this program, which will be used to provide $10,000 grants to qualifying small businesses. What they're saying "During my State of the County address, I called on my administration to build bridges between small businesses, entrepreneurs, small business support organizations, and municipalities seeking to fill commercial corridor spaces. Because through partnership, we know we can fuel local economic development," said County Executive Crowley. "Under my direction, Milwaukee County is taking a stronger approach to supporting small businesses, growing our economy, and creating job opportunities for workers. Thank you to WEDC and all of our partners for making this new effort a reality that will help build wealth, strengthen our neighborhoods, and uplift small businesses across Milwaukee County." FREE DOWNLOAD: Get breaking news alerts in the FOX LOCAL Mobile app for iOS or Android "Small businesses are the heart of our communities and downtowns," said Missy Hughes, secretary and CEO of the Wisconsin Economic Development Corporation. "The Building Bridges program is a great example of how partnerships between small businesses, communities, and other organizations can work together to create an environment where everyone has the opportunity to thrive and our economy grows." Dig deeper During Wednesday's legislation signing ceremony, Crowley announced the first grant recipient of the Building Bridges program. The grant recipient is All Goods, a vintage clothing store based in Milwaukee County, that specializes in curated vintage apparel. Ali Acevado, the owner of All Goods, purchased and is renovating an old, vacant laundromat on Greenfield Avenue in the City of West Allis, where he will move his business in the coming months. SIGN UP TODAY: Get daily headlines, breaking news emails from FOX6 News The City of West Allis is supporting the project with a low-interest loan. The Building Bridges grant will be used for the building's renovations, including structural and foundation work, electrical, plumbing, and more. The Building Bridges program includes accepting grant applications from small businesses, administering grants following approval, and hiring a small business liaison to carry out this work. The Source The information in this post was provided by Milwaukee County.
Yahoo
08-04-2025
- Business
- Yahoo
Wisconsin Economic Development Corp.'s Hughes discusses tariff shock, European trading partners
Gov. Tony Evers and Wisconsin Economic Development Corp. CEO Missy Hughes at the Hannover Messe trade show in Germany last week. (Photo courtesy of WEDC) The sweeping tariffs President Donald Trump put in place last week have left key Wisconsin business leaders as well as the state's important trading partners confused and uncertain, the state's top economic development official said Monday. Missy Hughes, CEO of the Wisconsin Economic Development Corp., spoke to the Wisconsin Examiner from Germany, where she and Gov. Tony Evers are in the midst of a trade mission. Hughes left March 29 and returns to Wisconsin this week. 'The government officials, economic development officials, the businesses that we've been talking to are very confused about how we got here after over 75 years worth of partnering and working together,' Hughes said. 'The folks here are really wondering what has happened and where this is going.' Hughes said she's hearing regularly from Wisconsin businesses that have integrated themselves into the global economy. 'I've been in touch with companies that are directly importing things like coffee [for which] there's really no way to work around the tariffs,' she said. 'And so they're very concerned about just increased costs on their bottom line.' Other businesses have connected with the supply chains that run between Canada and Mexico through the United States. They are 'sending products back and forth across those borders, and are now very confused and concerned about how to make their supply chains work,' Hughes said. For businesses that have had a good run for the last several years, '[there] is real frustration around instability and unpredictability,' she said. 'They were experiencing growth, they were doing well, and now they're concerned that that might be endangered.' Hughes contrasted the crisis brought on by the tariffs and the responses to them with the COVID-19 pandemic's disruption to the economy five years ago. 'This is a man-made crisis,' whereas the pandemic was 'a crisis that was not man-made,' she said. 'For the average Wisconsinite the concern I have is the increased cost in their pocketbook,' Hughes said. 'There's going to be increased grocery prices, there might be inflation. It's going to cost more to replace your dishwasher or your automobile.' Those present 'an impact [that] is difficult to predict,' she said. 'This is really going to be an unfolding crisis as we see immediate impacts and then impacts that will evolve, due to changes that are being made on a daily basis.' In addition to the volatility from the tariffs, Hughes said, there's also uncertainty from unexpected and sweeping cuts across federal agencies, resulting in disruptions that range from university research programs cut short to social services delayed or ended. Markets worldwide take another dive as Trump threatens higher tariffs on China Farmers are losing grants they have been relying on, she said, but also are faced with losing the counsel they've relied on at the U.S. Department of Agriculture to help them manage regulations. Leaders of a biohealth company have expressed 'their concern that the FDA [Food and Drug Administration] is no longer going to be the premier global agency that people rely on,' Hughes said. 'There's things that are going to be immediately apparent and things that are going to be apparent as we see real expertise and institutional knowledge from our agencies disappear,' she added. The trade mission took the Wisconsin delegation to France as well as Germany. It is aimed at encouraging businesses in Europe to buy Wisconsin exports and talking up the Badger State for companies interested in establishing or expanding their operations here. A highlight of the visit was kicking off the 50th anniversary of Wisconsin's sister-state relationship with the German state of Hesse (Hessen). The group also attended the Hannover Messe, a major worldwide advanced manufacturing trade show. In the face of the startling reversal from longstanding relationships between the U.S. and the world, Hughes said, leaders the state delegation met with welcomed Wisconsin's continued overtures. 'Obviously, things are still very volatile,' Hughes said. Despite that, she added, 'people have been so happy that we are here extending a handshake and reminding everyone that there are opportunities for relationships beyond what's happening in Washington, D.C.' Joining the trip were four Wisconsin companies and representatives of New North, a Wisconsin regional economic development and business organization. The Wisconsin participants were looking at opportunities such as distribution deals in Europe for their products, Hughes said. 'They were by and large very happy with their visits and the opportunities to create relationships,' Hughes said. The other principal aim of the trip was to connect with companies in Europe that have Wisconsin operations or are interested in establishing a presence in the state. 'While those conversations were positive, there was certainly also concern expressed about, what if there's a slowdown, what if there's a recession,' Hughes said. A recurring theme in those conversations, she added, was the 'need to understand what the economy is doing, and we need things to not be as volatile as they are right now.' The Wisconsin team is working 'to remind folks that Wisconsin's is a strong economy,' she said. 'We have strong businesses that are interested in being and already participating in the global market and want that to continue. So I think, you know, we are a steady hand during this volatile time and I think that's really beneficial.' In the face of the current economic turmoil, Hughes said she worries about the toll on business confidence. 'When you lose confidence you start to become risk averse, you hold off on making investments,' she said. That's important in Wisconsin because of the state's role making large, expensive machinery. 'We make CAT scans and MRIs and tractors and big industrial machinery,' Hughes said. 'People need confidence before they make those purchases. And so if we lose confidence, it's going to be harder to recover even if the tariffs were taken away next week, or next month.' Confidence is hard to measure and not always easily predicted, she acknowledged. 'My fear is that people will really start to become risk-averse, and that hinders the whole growth of the economy.' Despite that fear, however, she said she's found reasons to buoy her spirits in the conversations she's had over the last two weeks. 'The desire for a relationship, the desire for connections, the long-term historic partnerships that we've had are still here,' Hughes said. She professed optimism that those connections can still be nurtured and survive the current gyrations of the stock market or the economy itself. 'I'm very confident that we have such strong ties that those will stand strong during these times,' she said. 'But it is difficult.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
