According to the Wisconsin Department of Revenue’s 2010 Statement of Assessments, the Village of Menomonee Falls has the third-highest manufacturing real estate assessed value in Wisconsin. In 2010, the Village had over $288 million in manufacturing assessed value, behind only Milwaukee and Green Bay. Consistent with past years, the industrial areas of the Village continue to attract several new projects.
More than 250 traditional and high-tech manufacturing firms and related businesses call The Falls home. They produce everything from robotic systems and medical instruments to oxygen sensors, atmosphere control systems, computer furniture, printed circuit boards and a variety of metal and plastic products. A wide range of banking and financial services, including the largest capital management firm in the state, serves Menomonee Falls.
Menomonee Falls as a Business Location
Primary comparative advantages include the following:
• accessibility to key transportation links and a central location within the Milwaukee region
• lower property taxes than prevailing locations in nearby communities
• labor accessibility through a wide commute-shed
• proximity to a diverse set of housing options
• a safe and secure location with excellent municipal services
• a location in part of the region that is experiencing population and housing growth that represents both a source of labor, as well as demand for goods and services, high-quality office parks and agglomeration advantages for industrial space users with linkages to suppliers and customers and a large pool of trained labor
Employment in Menomonee Falls has remained relatively stable. Service sector employment increased at a high rate due mainly to fast growth in the professional and business service sectors and the educational and healthcare sectors, which together comprise about 80 percent of service sector employment. Service sector employment in Menomonee Falls has grown much faster than in Waukesha County as a whole.
A recent employment forecast estimates about 7,279 total added jobs between 2005 and 2020. This equates to an average annual growth rate of 1.60 percent, or an average of 503 jobs per year. Economic sectors associated with office-space consumption, some services and finance, insurance and real estate are forecast to approximate 288 jobs per year between 2005 and 2020. This equates to a growth rate of 2.5 percent for the services sector and 1.25 percent for the finance, insurance and real estate sector, or 40.54 percent of total net job growth. The estimated construction and resources employment is at one percent. Employment in manufacturing, wholesale trade and transportation, utilities and information is forecast to increase on average by 44 jobs per year or about 9 percent of total job growth.
Forecast Building Space Demand
The Menomonee Falls Community Chamber, Village government and local educational institutions all work in harmony toward economic growth and community betterment.