WISCONSIN (From news reports) -- The village of Germantown will be adding another development in its fastest-growing development area.
Green Bay Packaging -- a paper company that makes shipping containers, cartons and label products -- is set to build a new regional corporate headquarters to replace its current facility in Germantown.
The proposed 233,450-square-foot corporate office and light manufacturing facility will include a 20,000-square-foot office area, according to village documents.
Green Bay Packaging is currently at N11393 W190 Carnegie Drive in Germantown and leases 150,000 square feet in four buildings.
The company wants to construct its own facility to address the "inefficiency of operating out of four separate buildings," according to village documents.
The 52.7-acre development is slated to be on the northeast corner of the Holy Hill Road and Interstate 41 interchange in the Holy Hill Gateway District. Village Administrator Steve Kreklow said this area is a fast-growing development in the Germantown area.
The village board approved the rezoning and land use plan amendment to allow this construction at its Nov. 20 board meeting.
Kreklow said that before the addition to the Green Bay Packaging building, there are a total of 15 buildings built or in development with more than 2.5 million square feet of industrial development in that area.
Officials at Green Bay Packaging estimate that their $60 million investment and $35 million real estate value will bring in more than $500,000 in annual property tax revenue, according to village documents.
Green Bay Packaging has been in the Germantown community for more than 50 years and in Wisconsin for 90 years, according to village documents.
The company plans to break ground for this new building in the spring of 2024 with the building to be completed and functional in the spring of 2025.
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