City OKs Federal Tool loan
West Bend, county to chip in $400K for business to relocate

By DAVE RANK - Daily News

April 22, 2014

Low-interest loans totaling $400,000 from the city and Washington County will help Federal Tool & Engineering LLC move its operation to West Bend from Cedarburg.

On Monday night, the Common Council unanimously approved the allocation of $200,000 from West Bend’s revolving loan program for FTE to help the manufacturer with its planned multimillion dollar plant expansion at 2150 Stoneridge Road in West Bend.

The loan was recommended by the Economic Development Washington County’s Revolving Loan Fund Committee, which administers the city’s loan program. Another $200,000 low-interest loan is planned from the county’s revolving loan fund, EDWC Executive Director Christian Tscheschlok said.

The company plans to move its 45-person staff to the West Bend business park site and add jobs by the end of 2016.

“We are thrilled about our company’s anticipated move to West Bend,” FTE President David Tomczek said. “We were drawn to West Bend because of their energetic workforce, easy access to Highway 45 and Moraine Park Technical College’s new Jackson Regional Center.”

Moraine Park offers welding training and other technical education programs at its Jackson site.


 
Federal: At least 55 new jobs; construction could start in June

“Federal Tool and Engineering is a growing company that will bring at least 55 new jobs to the city and invest approximately $2.6 million in the expansion of the property,” Mayor Kraig Sadownikow said.

FTE bought its 18,000square-foot West Bend property in 2013 and has 12 employees there. The expansion will add 26,254 square feet.

That construction could begin as soon as June with an October targeted completion date, MSI General President Craig Coursin said earlier this month after the West Bend Plan Commission’s approve of FTE’s site plan. MSI, Oconomowoc, is the project contractor.

An additional four more expansions may occur as needed on the 4.8-acre site, which could result in a 100,000-square-foot complex, Coursin said.

“While there remains work to be done in bringing this important deal to fruition,” Tscheschlok said, “EDWC is pleased to be partnering with the city of West Bend in offering Federal Tool a competitive package designed to secure this (economic) growth opportunity.”

FTE was founded in 1925 as a tool and die shop and now provides services in engineering, tool design and construction, fabrication, metal stamping, welding, and assembly. It has estimated annual sales of several million dollars.

EDWC is an independent economic development organization the works to fuel growth of businesses and industries in Washington County.

“Even though this high level of collaboration between city and county may be business as usual here, it is pace setting for the region and state,” Tscheschlok said.