The Milwaukee Post

6 • Milwaukee County Post • November 17, 2011 Molson Coors to open regional office in Milwaukee Homes sales rise, but proposed tax laws concern Realtors Post Staff MILWAUKEE — A global business service center employing 150 people will open to support the North American operations of Molson Coors Brewing Company, the parent com- pany of MillerCoors. The center will be at the MillerCoors Miller Valley Campus on the city's west side. "I applaud Molson Coors' decision to expand its operations in Milwaukee, a city with a strong brewing legacy that includes Miller Beer," Gov. Scott Walker said in a state- ment. According to Tuesday's announcement, the region- al site in Milwaukee will support MillerCoors with finance and accounting, human resources and pro- curement. The regional global business service cen- ter also will enhance work- force planning and career development for employees. "This is the city we've called home for more than 160 years and the arrival of the GBS Center is just the latest example of our com- mitment to Milwaukee and its residents," said Kelly Grebe, chief legal officer at MillerCoors, in a statement. To help secure the com- pany's investment in Milwaukee, the Wisconsin Economic Development Corp. has authorized Mol- son Coors to receive up to $1.7 million in state income tax credits over the next four years and has awarded the company a workforce training grant of up to $750,000. The actual amount of tax credits the company will earn is contingent upon the number of jobs created through September 2021. By KATHERINE MICHALETS Conley News Service MILWAUKEE — Mike Ruzicka, president of the Greater Milwaukee Association of Realtors, is happy with how October ended — with a 6.2 per- cent increase in home sales — but is concerned about possible future federal tax laws and how they may negatively affect the housing mar- ket. In his report on Monday, Ruzicka said Realtors are con- cerned about how proposed feder- al tax laws could affect the indus- try, including by increasing the standard deduction; he said it could make the mortgage interest deduction less appealing. Also, Ruzicka wrote that eliminating the deduction of state income and property taxes could lead to a net increase in federal taxes for prop- erty owners in the state. "Finally, due to the double whammy of tax increases and decreased MID use, property val- ues are expected to decline 10 per- cent (after suffering a huge decline just a few years ago); not to mention the impact on the social benefits of homeownership," he wrote. The Greater Milwaukee Association of Realtors is encour- aging constituents to contact their elected officials and estimated that the provisions in the tax bill will reduce average individual property values by the following amounts (by congressional dis- trict): ■ 1st Congressional District (Rep. Paul Ryan) — $18,920 ■ 4th Congressional District (Rep. Gwen Moore) — $13,580 ■ 5th Congressional District (Rep. F. James Sensenbrenner) — $21,630 ■ 6th Congressional District (Rep. Glenn Grothman) — $15,690 October home sales During October in the four- county metro Milwaukee area, which includes Waukesha, Washington, Ozaukee and Milwaukee counties, home sales increased 6.2 percent compared with October 2016. They also bounced back from the 1.1 percent decline in September. Ruzicka wrote that the uptick in sales was somewhat surprising because the market has lacked enough homes in the sweet spot, of under $300,000. However, in October, 76 percent of the homes sold were under $300,000, due to an increase in list- ings in three of the four metropol- itan counties, he wrote. Home sales increased 12.2 per- cent in Milwaukee County in October compared to October 2016 and Waukesha County increased 3.8 percent for the same periods. Ozaukee County declined 7.4 per- cent and Washington County went down 6.1 percent in October 2017 when compared to October 2016. Listings increased in Milwaukee County at 10.4 percent, Washington County at 17.1 and Ozaukee County at 6.3 percent in October compared with October of last year. Waukesha County declined 5.9 percent. The increase in listings was easily gobbled up due to strong demand that is continuing into the fall months. The underpinnings of the local economy are solid, with employment, interest rates, and lending all performing well. The strong economy is producing interest in home buying, particu- larly among first-time buyers and millennials, who brokers estimate comprise about 40 percent of the market this year, Ruzicka wrote. Email: kmichalets@conleynet.com BUSINESS Wheel & Sprocket purchases Bay View industrial building MILWAUKEE — Wheel & Sprocket will open its first location in Milwaukee after purchasing a building in the Bay View neighborhood. The Barry Company announced Monday that Wheel & Sprocket purchased a 12,240-square-foot industrial facility at 187 E. Becher St. The property was sold by Cobb Real Estate Holdings, LLC to 187 E Becher, LLC, doing business as Wheel and Sprocket. Wheel and Sprocket plans to renovate the property into a bike shop and corporate office, according to the announcement. It will be Wheel and Sprocket's first Milwaukee location. Jim Young of The Barry Company rep- resented the seller in the transaction and Ben Anderson of Colliers represented the buyer. Johnson Controls' sales increase 4% in 4Q MILWAUKEE — Sales increased 4 per- cent for Johnson Controls International during the fourth quarter for a total sales of $8.1 billion, when compared with the same period last year. According to the announcement, sales in the fourth quarter, excluding the effects from net acquisition and divestiture activi- ty, as well as foreign exchange and changes in lead prices, grew 2 percent organically. Generally accepted accounting princi- ples earnings before interest and taxes was $1.2 billion and the earnings before interest and tax margin was 14.5 percent. Adjusted EBIT was $1.1 billion, up 10 percent over last year with adjusted EBIT margin expan- sion of 80 basis points, to 13.9 percent. "During the first year as a combined company, we have made significant progress bringing two market leading com- panies together as one," said George Oliver, Johnson Controls chairman and CEO, in a statement. "We have integrated across geographies and businesses and are off to a strong start in streamlining our cost struc- ture, which drove our 13 percent adjusted earnings per share growth for the year." ACRO Automation Systems launches new website MILWAUKEE — ACRO Automation Systems has launched a new, redesigned website with the help of Marketing Metrics Corp. of Pewaukee. Milwaukee-based ACRO is a single- source provider of high-speed custom- designed and custom-manufactured weld- ing and assembly automation for automo- tive, appliances, and consumer products for manufacturers located throughout the world. The new website replaces the company's previous website with a responsive, mobile- friendly site. "We are very excited about our website launch," said Mike Loomis, president of ACRO. "The content of this new website clearly illustrates ACRO's strengths serving as a worldwide leader in providing customized automated welding and assembly equipment." Marketing Metrics Corp. redesigned the website and provides ongoing marketing and analytical services to support the new site. MillerCoors Molson Coors Brewing, the parent company of MillerCoors, announced it will open a regional office at the Miller Valley campus. 6.2 percent increase reported for Milwaukee area in October

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