Leonardo DRS Inc. will build a new manufacturing facility and offices in Menomonee Falls to accommodate its growing Naval Power Systems line of business, the company, village and the Wisconsin Economic Development Corp. announced today in a joint release.
The company will move its operations in Milwaukee at 4265 N. 30th St. to the new facility. That facility, which has 449 employees, is more than 65 years old and at capacity, the company said.
The $56 million project is expected to create 220 new jobs, according to the announcement.
“The growth we are experiencing is due to the dedication of our workforce and their focus on our customers,” said Russell Marsh, vice president and general manager of the Leonardo DRS Naval Power Systems line of business. “That growth and expanding mission-critical needs of our customer require a more modern and efficient facility that will allow us to perform to our high standards.”
The Leonardo DRS proposal, labeled Project Walleye, calls for a 350,000-square-foot, high-tech industrial building at the northwest corner of Flint Drive and Good Hope Road in the Woodland Prime business park. An existing 120,000-square-foot office building would also be remodeled. Weas Development and Briohn Building Corp. submitted conceptual plans to the village for an unnamed user, which is Leonardo DRS according to the Monday announcement.
The facility will serve as the focal point for most of the company’s Naval Power Systems development and production activities. The facility, expected to open in 2020, will house the design, test and manufacturing facilities for naval and marine power distribution, power conversion, motor controls, drives and automation/control equipment for the U.S. Navy, commercial and international customers.
It will also be the home to the company’s Naval Power Systems headquarters housing leadership, management and a centralized back office functionality.
Leonardo DRS said it considered locales in multiple states for the facility.
To support the expansion, WEDC is awarding Leonardo DRS up to $18.5 million in state income tax credits over the next seven years. The amount of tax credits the company receives is contingent upon the number of jobs the company creates and retains, the level of capital investment over that time and the amount it spends on employee training over that time.