Waukesha Electric Systems Inc. is considering a $42 million expansion of its manufacturing plant in Waukesha that would result in the creation of at least 100 new jobs, city documents show.
The city of Waukesha would provide $9 million in tax incremental financing incentives for the project, according to a memorandum of understanding that will be considered by the Common Council Finance Committee on Tuesday night.
The financing would be repaid with property taxes generated by the plant expansion.
Waukesha Mayor Larry Nelson said the company first approached the city six months ago about the possible expansion of the factory, located at 400 S. Prairie Ave.
"At that time, the company was reviewing other possible locations for expansion in other cities across the country," according to a city staff report on the proposal.
The jobs that would be created as a result of the expansion would be skilled manufacturing positions, Nelson said.
Hourly wages for the jobs would average $18.13, or 2.5 times the federal minimum wage, according to the memorandum of understanding.
Waukesha Electric is a division of SPX Corp., a $4.9 billion, publicly traded manufacturing company based in Charlotte, N.C.
Waukesha Electric manufactures and services medium and large power transformers, reverse-engineered components and replacement parts.
In addition to Waukesha, the company has manufacturing operations in Goldsboro, N.C., and Dallas.
Its markets include public power, investor-owned utilities, independent power producers, wind farm developers and industrial/commercial firms.
A Waukesha Electric representative could not be reached for comment.
According to Waukesha County property tax information, the company has 19.11 acres at 400. S. Prairie.
A timetable for the development - assuming the public finance portion of the proposal is approved - has not yet been set.
"All of that will be done in the weeks and months ahead," Nelson said.
The Finance Committee meets at 7 p.m. Tuesday at Waukesha City Hall, 201 Delafield St.
Laurel Walker of the Journal Sentinel staff, reporting from Waukesha, contributed to this report.