Politics & Government

Amidst Recession, Menomonee Falls Expands

Village sees a significant uptick in commercial, residential and industrial development in 2010.

Throughout 2010, the nation found itself in the grips of an economic recession slowing development around the country. However, in the midst of a challenging economic climate, development increased across all sectors in Menomonee Falls in 2010.

The village saw an uptick in residential, commercial and industrial development last year. In 2010, the village surpassed Madison in total manufacturing assessed value. At $288 million of assessed manufacturing value, Menomonee Falls now only trails Green Bay and Milwaukee for highest manufacturing value in the state.

The village experienced a 40 percent increase in new home construction with 40 new single and two family housing units built in 2010. However, that total still pales in comparison to the 130 new homes that were built in 2005.

Find out what's happening in Menomonee Fallswith free, real-time updates from Patch.

The Community Development Department issued a total of 617 residential and 128 non-residential building permits in 2010 and generated $573,952 in revenue, or a 52 percent from 2009. Overall, net proceeds increased 115 percent from 2009, which was the first increase in six years.

What is the key to growth in Menomonee Falls? It’s simple and you’ve heard it before, “Location, location, location.”

Find out what's happening in Menomonee Fallswith free, real-time updates from Patch.

“It’s location. There are some things that Menomonee Falls is doing, but the biggest thing is proximity to Milwaukee and environmental resources to the north and the west,” said CDA Director Matthew Carran. “It’s in between all of that and has land that is readily available.”

In 2010, the village attracted large-scale developments including the Radisson Hotel & RBG Restaurant, Actuant Corporation headquarters, WE Energies service center, Grace Evangelical Lutheran Church and Breezy Hill Nursery. Milwaukee Bearing & Machine, NCL Graphic Specialties and Entrust Tool & Design also significantly expanded their Menomonee Falls operations.

The village is now the 10th most valuable municipality in Wisconsin with $4.2 billion in assessed real estate value. The village trails Brookfield (3rd), Waukesha (5th) and New Berlin (8th) in Waukesha County.

“We try to provide a footprint that’s buildable right away, so when you bring these corporations into the area they can get started right away,” said Village President Randy Newman. “Having the TIF financing available helps get over some of the hurdles, and we can assist with some of the infrastructures and take some of the costs out of the projects for them.”

The village has counteracted unfavorable economic conditions using Tax Incremental Financing districts to encourage redevelopment. In TID No. 8, the village has razed the old Stolper Steel site to make way for new development. The village has also expanded it grant, loan and bond programs to spur development.

“We’re using TID funding for under-utilized properties to spur redevelopment in those areas,” Carran said. “It’s tough to finance with the banks right now, so we’ve used bonds to help get some deals done to create jobs and help the community out.”

In 2010, the village also created TID No. 9, which was intended to revitalize the downtown area. Carran said the grant and loan program for TID No. 9 has gained a momentum.

“We’ve had about one application a month come in for our 50/50 matching grant,” Carran said. “You’re really starting to see the downtown improve itself.”

Carran said the key to growth in 2011 is to target redevelopment, rather than expansion. He said the CDA will target underperforming areas of the village, like the Main Street corridor and TID No. 8, to find viable developments within the village’s existing framework rather than expanding outward onto vacant land.

“We have vacancies so there really isn’t a need for new strip centers or anything like that,” Carran said. “We can fill in what we have and really redevelop what we have and repackage the community.”


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here