(Mayville) Officials with Mayville Engineering Company have announced plans to move their headquarters to Milwaukee. Chief Financial Officer Todd Butz explained their reasoning during the Mayville Common Council’s meeting on Monday.
“Where we are today in our progression as a public company…it’s really causing us to have to look at different types of skillsets,” says Butz. “When you think of SEC reporting and legal and taxation and all these sorts of expertise that we just don’t have here in Mayville.”
The company was founded in the city of Mayville in 1945 and manufactures a broad range of prototyping and tooling, production fabrication, coating, assembly, and aftermarket services. They now have 20 facilities across seven states. Butz added that their commitment to Mayville is not wavering.
“We’re here for the long term…we want to continue to grow this location in fact and that’s what our hope is of the future,” says Butz. “But when it comes to the back office, technical skillset that’s required now or needed as we continue to grow and that is what’s driving us to have to look at locations outside of Mayville.”
Butz assured city leaders that all local manufacturing jobs will remain in Mayville and that there will be no loss of revenue or tax base. It’s estimated at 10-to-15 jobs initially. He added that they wish to continue to invest and grow in Mayville.
Mayor John Guinn says there are upcoming development projects that will bring more housing options to the city which will help bolster its workforce.
“And it’s going to provide MEC an opportunity to have greater workforce availability here locally in Mayville,” says Guinn. He added that the city looks forward to partnering with the company to do that.
That was welcomed news for Mayville Engineering Company’s President and CEO Jag Reddy.
“That’s fantastic,” says Reddy. “Even the current openings that we have…we can’t fill them because of the amount of people. With new housing…all of that…enhancements to the local community…perhaps we can all grow together and then hire those open positions.”
A location for the move has not yet been finalized but company officials say they hope to have the process completed in the next three to four months.
