Troy Industries announced today that it has signed a memorandum of understanding with the State of Wisconsin to build the new facilities for its manufacturing operations.
Troy Industries, a subsidiary of the Troy Group, is the largest privately-held manufacturer in Wisconsin and one of the largest U.S. industrial facilities in terms of workforce and payroll.
Under the memorandum of intent, Troy Industries will invest $200M over 20 years in the construction and operation of facilities in the Madison, Racine and Milwaukee area.
Troy is the third major manufacturer to invest in Wisconsin in the past two years, after General Motors and Fiat Chrysler Automobiles.
Troy has been an integral part of the Wisconsin economy since the 1990s and the state’s economy continues to grow with the economic recovery.
Troy will have two new facilities in Milwaukee, the $2.9 billion Troy Industries Manufacturing Facility, which is a new production facility, and the $1.4 billion Troy Innovation Facility, a new technology and design hub.
Troy intends to build two more new facilities with a combined total of over 1,000,000 square feet, with more to come.
The company has committed to invest $1B in Wisconsin through 2023, and has also committed $1 billion to expand and modernize its facilities.
“The Troy Innovation Center is an innovative facility that will be a critical catalyst for the state economy,” said Troy CEO Paul Coughlin.
“This facility will add more than a million square feet of manufacturing capacity to the region, and will create millions of direct and indirect jobs in our region.”
The facility will be located in a state-of-the-art facility that includes the world-class assembly lines of Troy Industries.
Troy Innovation will employ more than 6,000 people, and employ more people in the area than the state of Wisconsin has in manufacturing.
The Troy Industries Innovation Facility will also provide employment to over 5,000 employees in the Wisconsin automotive industry.
The facility also will provide jobs to more than 200 individuals and businesses that will include businesses such as restaurants, hotels, retail stores, and entertainment venues.
Troy also is committed to investing in a variety of infrastructure and infrastructure upgrades throughout the state.
“We are proud to announce that Troy Industries is investing in our state with this memorandum of agreement,” said Governor Scott Walker.
“Wisconsin is home to some of the most highly-skilled workers in the country, and we’re going to continue to invest aggressively in the state and in our communities to create more good jobs for everyone in Wisconsin.
We have an opportunity to invest billions in the future and to create new opportunities for Wisconsin workers.”
Troy Industries was founded in 1946 by William and Mary alum John Troy and his wife, Annabel.
The business is headquartered in Troy, Wisconsin, and is managed by the Troys.
Troy employs nearly 15,000 full- and part-time employees in Wisconsin, with an average of about 14,000 workers annually.
Troy was ranked the No. 1 company in the world in employment for 2016 by The World Economic Forum.
The Michigan Economic Development Corporation ranks Troy among the top 100 employers in the U.K., Canada, and Israel.
Troys annual revenue in the United States reached $3.4B in 2020, up from $2B in the prior year.
Troy currently employs approximately 2,700 people in Wisconsin with about 9,000 of those workers in its Wisconsin production facility.
For more information, visit Troy Industries website, Troy Jobs, and www.troyindustries.com.