Global industrial leader relocates to downtown Milwaukee, strengthening Wisconsin’s manufacturing industry and mobilizing local workforce
MADISON, WI FEB. 12, 2025 – Enerpac Tool Group Corp., a global leader in industrial tools and solutions, joins a growing list of companies that have decided to locate corporate headquarters in the heart of Milwaukee’s thriving downtown.
The company has leased 56,000 square feet of riverside space in the former Gimbel’s department store, 648 N. Plankinton Ave., for the new headquarters. The building has undergone renovations to include an engineering research and development hub, which will attract new corporate positions to the building. The riverfront building will be renamed as the Enerpac Center.
“More and more companies are finding a home in the center of Milwaukee, and Enerpac’s relocation is a reflection of that trend,” said Milwaukee Mayor Cavalier Johnson. “There is a vibrancy in our downtown that benefits the businesses operating there, and it pays dividends for the entire city of Milwaukee.”
The move creates 34 high-paying jobs for the company and injects $15 million in investment into Milwaukee’s downtown. WEDC is assisting with $500,000 in Business Development Tax Credits. The total amount of credits is contingent on the amount of capital invested and the number of jobs created.
“Enerpac’s move to Milwaukee reflects the company’s confidence in Wisconsin’s workforce, infrastructure, and vibrant manufacturing history,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development organization. “This project is an excellent example of communities across the state that are attracting and retaining global leaders and continuing to build our state’s economic momentum. We are excited to see how Enerpac complements the downtown Milwaukee business community.”
Enerpac will complete the move into the new location on March 31.
With 28 facilities worldwide, Enerpac Tool Group is a global leader in the design and manufacturing of more than 50,000 products, including high-pressure hydraulic tools. The company’s move to Milwaukee represents a commitment to quality and innovation while leveraging Wisconsin’s robust manufacturing ecosystem.
“We believe our new location will provide an exciting environment for our team and help us attract and retain top talent from the area. As construction continues, we’re seeing the space beginning to come together as a dynamic, inspiring workplace that will foster collaboration and drive innovation,” said Paul Sternlieb, President and CEO at Enerpac Tool Group. “Also, our new headquarters in a prominent location in the heart of downtown Milwaukee, coupled with our continued involvement in and support of community activities, will enable Enerpac to continue to build a premier reputation in the county.”
Wisconsin has a history of strong manufacturing, with the state’s manufacturing workforce concentration ranked second in the nation. The robust talent pool, coupled with the state’s technical education system, has long attracted global leaders like Enerpac, Eli Lilly, and Microsoft to establish operations in the state’s bustling southeast region.
The Enerpac Center renovation process has supported up to 97 local jobs and more than $7 million in labor income, creating more than $9 million in cumulative economic value for the city. The company’s new riverfront office also offers employees proximity to dining, retail, and entertainment amenities in the heart of Milwaukee’s downtown Deer District.
