New York -- Kohl's Corp. and the state of Wisconsin announced an agreement that will keep the retailer’s headquarters in Menomonee Falls, which is located about 20 miles northwest of Milwaukee. Kohl’s will receive up to $62.5 million in tax credits from the state over 12 years. The final amount of the tax credits is dependent on the number of employees the chain adds at its facility and the amount of money Kohl’s invests in developing its campus.
Kohls, which has about 4,900 employees at its corporate locations around the area, has said it will add up to 3,000 jobs over the next 12 years in southeastern Wisconsin and spend $250 million in improvements to its headquarters.
Kohl’s will take ownership of about 100 acres in Woodland Prime, a business park in Menomonee Falls. It will also acquire a small office building adjacent to the land. In exchange, the village will assume ownership of Kohl’s 530,000-sq.-ft. distribution center in the village. The company said it plans to build a second corporate campus on the vacant land and continue to operate its current headquarters in Menomonee Falls.
Company CEO Kevin Mansell said Kohl's had looked into moving to Milwaukee, to another area of Wisconsin or even out of state, but he declined to say which states were considered, the Associated Press reported.
Kohl's will begin construction on a new building within the next three years, according to the report.