New Study Reveals Long-Term Economic Growth Opportunities in Waukesha County

Today, Waukesha County leaders are announcing plans to ensure long-term economic growth in the County. The results of the recently completed Waukesha County Industrial/Business Park Land Absorption Study (IBPLAS) will allow local leaders to anticipate the development rate of parcels of land available for business parks while ensuring that land is accessible to new and growing businesses. The IBPLAS was conducted as a partnership between the Waukesha County Center for Growth, the Waukesha County Business Alliance, the Southeastern Wisconsin Regional Planning Commission (SEWRPC) and Waukesha County. The study is online at www.waukeshacounty.gov/businesspark.“At the Center for Growth, our main objective is to serve as the point of contact for businesses looking to grow in Waukesha County,” said Tim Casey, director of economic development for the Waukesha County Center for Growth. “Having the results of this study at our fingertips will allow us to better serve the needs of our existing business community, as well as attract more businesses to the area.”The information gathered through the IBPLAS could allow Waukesha County to increase its land inventory in response to anticipated business needs. The study was conducted in two parts. First, it analyzed Waukesha County’s existing business parks, showing 5-6 years of the most desirable land and 9-10 years of total inventory remaining. A Land Suitability Analysis then identified land available for future development.“With 37 industrial expansions in 2016 that totaled more than $1 million in capital expenditure or 20,000 square feet of space, Waukesha County remains one of the most desirable locations in the state of Wisconsin to grow a business,” said Jeff Hoffman, principal of Cushman & Wakefield | Boerke, a commercial real estate firm. “The development of the Industrial Land Park Absorption study will ensure that the County is well positioned to assist developers in identifying strategic locations that can facilitate future business park growth which will be needed to accommodate the continued expansion of the robust Waukesha County industrial employer base.”The Land Suitability Analysis also resulted in the development of a map tool that allows users to locate parcels of land suitable for business park development. The Business Park Suitability web app is available online at www.waukeshacounty.gov/businesspark/“Waukesha County is booming, and now we have the information necessary to ensure that businesses can continue to move here and expand for decades,” said Waukesha County Executive Paul Farrow. “The results of this study mean we can prepare land for development proactively, and we have more tools available to match that land with businesses that are looking for it.”