Village of Mukwonago, WI
Economic Impact Analysis
The Need
Economic Impact Analysis of public investments in the industrial park and elsewhere in the Village from 2013-2019.
Highlights
For every $1 the public sector invested the private sector invested $3.38 in the industrial park, $3.64 in the riverfront TID, and $22 in the commercial area.
The total economic impact of the development in the Village of Mukwonago is just shy of $346 million.
Total direct, indirect, and induced job creation is estimated to be 1,688.
The largest growth in equalized value has been in manufacturing, averaging 18% growth per year since 2016.
Though a variety of factors contribute to the ongoing development success of the Village, it can be attributed to:
- Strong fiscal management of the Village
- Proactive business retention and recruitment strategies have been employed
- The effective use of tools, such as Tax Increment Financing, land banking, and other incentives
Impact
The economic impact analysis gave Village leadership confidence that they were on the right track providing and facilitating development opportunities. They were justified in purchasing the industrial park property and installing necessary infrastructure. They saw how their action to purchase the property spurred significant economic growth.
This analysis reinforces the proactive nature of understanding needs in the business community and providing solutions that improve the local economy for the long term.
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