The city of Milwaukee’s plans to build a water industry cluster advanced another step as Mayor Tom Barrett proposed that the city spend $6.2 million to transition a former rail yard into a business park for water technology companies, according to the Milwaukee Journal Sentinel.
Development of the Reed Street Yards, located south of the Harley-Davidson Museum, would be funded by a tax incremental financing district. Under a TIF, public funds are repaid through property taxes generated by new development.
The business park could be the future home of the University of Wisconsin-Milwaukee’s new School of Freshwater Sciences.
A business incubator for lab research and water technology start-up businesses is planned for a former warehouse near the Reed Street Yards site.
