FIRE (First-Ring Industrial Redevelopment Enterprise) is a regional community development organization that provides gap financing support for commercial, industrial, and mixed-use development projects throughout Kenosha, Racine, and Milwaukee counties.
West Allis Origins
FIRE was founded in 2007 by the experienced development team from the City of West Allis. Our team partnered with neighboring communities and economic development stakeholders with the mission to stimulate economic growth in the region by forming a new organization to seek New Market Tax Credits from the US Treasury.
FIRE has been extraordinarily successful; to date, FIRE has brought in over $140 million in new investment, creating over 1,600 family-supporting jobs and leveraging $200 million in new investment.
How It Works
To attract investment to communities that suffer from a history of disinvestment, the US government offers tax incentives in the form of New Market Tax Credits. This program allows individual and corporate investors to receive a tax credit in exchange for making investments in Community Development Entities. FIRE is the Community Development Entity for the Milwaukee region; it works to secure tax credit funding and translate these investments into impactful new projects that support the region's economy.
Learn more about the New Market Tax Credit program on the US Treasury website.
Only projects in certain areas of West Allis are eligible for New Market Tax Credit financing.
Learn more about FIRE and how West Allis can help leverage its resources to help your business by contacting our team.