The Menomonee Falls Village Board approved tax incentives Monday night for Milwaukee Tool as the company continues to plan a massive expansion to its facility off Good Hope Road.The board approved one tax incremental district an d amended another, laying the financial groundwork for Milwaukee Tool's multi-phase, nearly $206 million expansion across almost 92 acres of land.According to the deal, Milwaukee Tool will remodel an existing 164,000-square-foot building into an electric lab and research and development facility. The company will then construct new buildings over four phases, totaling 750,000 square feet by 2038.The new development will be located in wooded land just northwest of their current facility off Good Hope Road.Watch: Milwaukee Tool secures tax incentives for $206M expansion in Menomonee Falls Milwaukee Tool secures tax incentives for $206M expansion in Menomonee Falls"We are continuing to invest in and grow our Menomonee Falls campus, and the agreement provides flexibility to support that growth over the long term," a Milwaukee Tool representative said in an email to TMJ4 Monday evening.The contract also allows the company to build a private road connected to Fond du Lac Avenue if the development reaches 2,000 permanent employees, though that is not a minimum requirement for the development.Both tax districts were passed by unanimous vote from the Village Board.This story was reported on-air by Brendyn Jones and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.Its about time to watch on your time. Stream local news and weather 24/7 by searching for TMJ4 on your device.Available for download on Roku, Apple TV, Amazon Fire TV, and more.Report a typo or error // Submit a news tip ...read more read less