Generac is expanding its presence in Wisconsin by investing $53 million in its facilities across the state and creating more than 700 new jobs. When the global designer and manufacturer of energy technology solutions and other power products meets its capital investment and job creation goals by 2024, it will receive additional Enterprise Zone tax credits authorized by the Wisconsin Economic Development Corporation (WEDC).
“Generac is experiencing phenomenal demand and growth as the combination of an aging grid and extreme weather are resulting in more frequent and longer-lasting power outages,” said Aaron Jagdfeld, president and CEO of Generac. “We are proud to continue to expand our presence in Wisconsin as we work to meet the incredible market demand. This new facility and our new agreement with the State will allow us to continue to grow Generac to best serve our customers, partners and our people.”
The $53 million investment includes the recent expansion of its corporate operations into the Village of Pewaukee with the purchase of a new building, plus the creation of 700 new manufacturing and office jobs throughout the state by the end of 2024.
“Generac is a great example of a Wisconsin brand the whole world recognizes and admires,” said Governor Tony Evers. “As we near Manufacturing Month in October, Generac’s decision to further expand in our state is a reminder that Wisconsin leads the nation – and the world — in advanced manufacturing and forward-looking businesses.”
WEDC has been a strategic partner in accelerating Generac’s growth since 2017. Last week, the WEDC Board of Directors authorized increasing the company’s Enterprise Zone tax credits from $10 million to $19 million if the company creates at least 700 new jobs and invests at least $53 million in additional capital expenditures by 2024.
“Generac’s commitment to creating innovative, sustainable energy products for the next century makes it a true powerhouse,” said Missy Hughes, secretary and CEO of WEDC. “WEDC is pleased to be investing in Generac because Generac is investing in Wisconsin – and in our global future.”
Generac provides advanced power grid software solutions, backup and prime power systems for home and industrial applications, solar + battery storage solutions, virtual power plant platforms and engine- and battery-powered tools and equipment. Founded in 1959 in Wisconsin, Generac introduced the first affordable backup generator and later created the category of automatic home standby generator – a market in which nearly eight of 10 generators sold is a Generac.
“Generac has a 62-year track record of investing in people and production in Wisconsin,” said Tom Pettit, chief operations officer of Generac. “This announcement affirms the company’s continued commitment as we continue to serve our customers with essential power solutions.”
“Waukesha County is known for being a great place to develop and expand a business due to our commitment to economic development, great schools and quality of life amenities for employees,” said Waukesha County Executive Paul Farrow. “Today’s announcement highlights Generac’s continued commitment to calling Waukesha County home. We will continue to work with our educational and municipal partners to build upon our stable, skilled community workforce that employers rely on.”
The Milwaukee 7 (M7) regional economic development organization assisted in the company’s expansion efforts.
“We’re delighted that Generac has chosen to make another significant investment in southeastern Wisconsin,” said Gale Klappa, co-chair of the M7 and executive chairman of WEC Energy Group. “Generac is a vital, legacy company that continues to help fuel our region’s economy. The company’s growth has been extraordinary, and we’re proud to support its expansion plans.”
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