Milwaukee, Wisconsin – October 1, 2012 — The Northwest Side Community Development Corporation (NWSCDC) has won a $728,750 grant award from OCS for funding year 2012 and will use the award to assist in financing the expansion of Jonco Industries, Inc. into a manufacturing research and development (R&D) tower in the heart of its service area in the City of Milwaukee’s “30th Street Industrial Corridor.” Jonco is owned by Tom Ryan, President.
The seven-story, 184,309 square-foot tower is currently home to the Milwaukee headquarters of the Eaton Corporation, a power and control manufacturer. Eaton is leaving for a new building under construction in Menomonee Falls, Wisconsin.
The former Eaton building will transition without a single day of vacancy from a single-user R&D office building into a multi-discplinary job accelerator, comprising a multi-tenant facility.
“Eaton was an excellent corporate neighbor; however, manufacturing work left that building years ago. As a CDC, we are excited that people from our area might one day find a job at Jonco or another new tenant in this building,” said Howard Snyder, NWSCDC Executive Director.
As home to a wide variety of uses, the newly named “Century City Tower” will create new manufacturing jobs, and provide new space for high-tech and green energy research and development. The principal new tenant of the building, and the object of the OCS-funded loan, will expand a high-tech manufacturing/sewing division within Jonco.
“Transitioning the Eaton tower into a multi-tenant, multi-purpose building is an imaginative adaption by Tom Ryan and we’re very excited to be part of the plan,” said Sam McGovern-Rowen, NWSCDC Planning Director.
Northwest Side CDC will celebrate its 30th anniversary in 2013, and has built a strong reputation in Milwaukee for collaborating with manufacturers on economic and workforce development projects.