TID 4:
TID created: (effective date January 1, 2006)
Base Value: $634,800
Increment Value: $38,930,625.00

Status:
The project area includes two parcels with a total area of 27 acres.  The area encompasses the former operations of Bucyrus International, consisting of obsolete buildings and industrial equipment.  Bucyrus International will construct an additional building and site improvements, totaling approximately 350,760 square feet of space on the north side of Rawson.

Through a two year phased improvement program, Bucyrus International will expand its operations in South Milwaukee, including new buildings and production equipment.  The increased manufacturing capability and capacity
will provide 190 additional jobs, including skilled labor, engineering, and professional, cementing BI’s status as South Milwaukee’s top employer.

The preliminary budget was set at $24 million, with a construction period of 24 months, begun in the fourth quarter of 2005.  BI reports that improvements will also occur on their property outside of the TIF 4 district as part of their overall improvement program.