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Location: Greenwood, MS
Southern Community Capital: $12,000,000
Other Community Development Entities: $21,000,000
Jobs Created: 213
Jobs Retained: 466
Milwaukee Electric Tool Corporation (“MET”) is a leading provider of innovative, trade-specific solutions and equipment for professional construction users and specializes in the development and manufacturing of heavy-duty power tools, hand tools, storage products and accessories.
As one of the top ten employers in Greenwood, Mississippi, MET is a major economic driver for Greenwood and the Mississippi Delta region. Facing a 48% poverty rate and an income level of 47% of the area median, quality employment is critical to promote economic growth in the non-metropolitan city of Greenwood.
Southern Community Capital’s New Market Tax Credit investment was used to purchase new, state-of-the-art equipment to support the growth of MET’s Hole Saw manufacturing operations located in Greenwood. The investment nearly doubles their manufacturing capacity and helps the company meet their broader strategy to further expand their footprint and overall manufacturing capacity in Mississippi.
MET received overwhelming support from the local economic development director and the Mayor of Greenwood. As a valued member of the community, MET has helped rebuild area parks, and its employees volunteer at the local food pantry.