Mayville Engineering Company will move its corporate headquarters to Milwaukee and plans to establish the office at the
Honey Creek Corporate Center on the city's west side.
Mayville Engineering president and chief executive officer
Jag Reddy and chief financial officer
Todd Butz announced plans to move the company's headquarters to Milwaukee in May during a presentation to the Mayville Common Council. The announcement drew little attention in Milwaukee at the time, but was reported by Daily Dodge.
A permit application recently filed with the city of Milwaukee indicates that Mayville Engineering plans to establish a 14,700-square-foot office at Honey Creek Corporate Center, in Suite 300 of the building located at 135 S. 84th St.
The office will be staffed by 10 to 15 employees initially, Butz said in May to the Mayville Common Council, but that is expected to grow and expand over the next few years. The employees at the company's Milwaukee headquarters will include audit, legal and accounting staff.
Mayville Engineering, established in 1945, is based in the city of Mayville, which is located 55 miles northwest of Milwaukee in Dodge County, and has a population of 5,144. The company is the largest structural steel fabricator in the U.S. It has 20 operational facilities and 2,300 employees throughout the United States, including more than 700 employees in Dodge County at facilities in Mayville and Beaver Dam. In May, the company said it had 41 open positions in Dodge County.
The company has invested more than $30 million in its Dodge County facilities, mostly in its Mayville operations, since 2019, Butz said. The company has also made more than $250,000 in donations in Dodge County since 2019.
"We're going to continue that investment in the community," Butz said. "Mayville is our heritage, where we started. Our commitment to Mayville isn't wavering. We're here for the long term. We want to continue to grow this location."
Mayville Engineering became a publicly-traded company in 2019 on the New York Stock Exchange and reported $539 million in revenue in 2022 and $18.7 million in net income. The company's status as a publicly-traded company means it needs to hire individuals that are hard to find in Mayville, or attract there.
"Where we are today in our progression as a public company, it's really causing us to have to look at different types of skill sets, when you think of having to get SEC reporting and legal, taxation and all of these sort of expertise that we just don't have here in Mayville," Butz said. "When it comes to the back office technical skill set that is required or needed as we continue to grow, that's what's driving us to have to look at locations outside of Mayville."
When the company decided it needed to consider a new headquarters location it hired Toronto-based commercial real estate services firm Avison Young to evaluate possibilities. After a multi-state analysis, the decision was narrowed down to Milwaukee, Des Moines, Iowa and Grand Rapids, Michigan, before the company selected Milwaukee, according to its presentation to the Mayville Common Council.
"We want to stay in Wisconsin, so we're near where we are founded," Butz said.
All jobs currently in Mayville will remain there, Butz said. No employees will be required to move to the Milwaukee headquarters office. The Milwaukee office will be staffed by future employees or people that are currently living in Milwaukee and other locations, Butz said
