Palermo Villa Inc. plans a $13.3 million investment in its Milwaukee plant that will increase its production to 50 million pizza crusts a year and create 25 jobs.
The Menomonee Valley frozen pizza maker plans to buy new equipment to produce rising pizza crusts in-house. Palermo currently buys those rising crusts from other vendors, which limits its capacity to make and sell pizzas, according to a report by the First-Ring Industrial Redevelopment Enterprise, or FIRE.
Palermo Villa applied to FIRE, a regional economic development organization managed by the city of West Allis, to receive $4 million in public tax credits to help finance the effort. The FIRE board will consider the New Markets Tax Credits application on Monday.
Palermo Villa issued a printed statement in response to an inquiry, saying it also is working with FirstPathway Partners, Baker Tilly Capital, U.S. Bank and the city of Milwaukee on the expansion.
“Once completed, this expansion will help Palermo’s remain competitive in the marketplace,” the statement said. “It also means we can protect existing jobs and create new jobs in an area that needs more economic growth.”
Palermo has 641 full-time workers in the Menomonee Valley plant at 3301 W. Canal St. The 25 planned new jobs would pay an average of $16.51 per hour.
The company first moved there in 2006 and expanded its building in 2010. CEO Giacomo Falluca in late August said Palermo Villa has experienced “double-digit growth” since before 2006, and had expansion plans for 2020.