Short answer
The Milwaukee-Waukesha metro had 39,486 business establishments with paid employees in 2023, employing 775,828 people at an average of $67,342 a year, according to the Census Bureau; 20,466 are in Milwaukee County and 12,761 in Waukesha County. The largest companies headquartered there, by revenue in their latest 10-Ks, are Fiserv ($21.19 billion), ManpowerGroup ($17.96 billion), Kohl's (Menomonee Falls, $15.53 billion), WEC Energy ($9.80 billion) and Rockwell Automation ($8.34 billion).
- Manufacturing employs 109,511 people in the metro, 14.1% of its private jobs, at 50 employees per plant on average.
- Milwaukee and Waukesha counties hold 84.1% of the metro's establishments.
- The top three headquarters, Fiserv, ManpowerGroup and Kohl's, reported 53.5% of the top 15's $102.11 billion.
- Insurance carriers in the metro pay $187,954 a year on average, the highest of any large industry there.
- Johnson Controls is often listed as a Milwaukee company, but its 10-K gives Cork, Ireland.
On this page
This page is for anyone who needs to find or size companies in the Milwaukee area: buyers choosing a supplier, job seekers, analysts and B2B sellers working southeastern Wisconsin. It covers the Census count for the four-county metro, what Milwaukee businesses make and do, the 15 largest headquarters from their filings, how to check a company, and a worked example among the region's machine shops and equipment makers.
How many businesses are in Milwaukee
| Measure | Milwaukee-Waukesha metro, 2023 |
|---|---|
| Establishments with paid employees | 39,486 |
| Employees | 775,828 |
| Annual payroll | $52,245,445,000 |
| Average annual pay | $67,342 |
| Average employees per establishment | 19.6 |
| Share of US establishments | 0.47% |
| Employees at the establishment | Establishments |
|---|---|
| 1 to 4 | 19,574 |
| 5 to 9 | 7,040 |
| 10 to 19 | 5,409 |
| 20 to 49 | 4,494 |
| 50 to 99 | 1,641 |
| 100 to 249 | 972 |
| 250 to 499 | 235 |
| 500 to 999 | 79 |
| 1,000 or more | 42 |
That is 32,023 establishments with 1 to 19 employees, 6,135 with 20 to 99 and 1,328 with 100 or more. Milwaukee's workplaces are bigger than average, 19.6 employees each, because so many are plants and offices rather than shops. County Business Patterns counts each location with a payroll, so one company with several plants counts several times, and it excludes the self-employed. Figures are for 2023, with employment in mid-March.
Where they are
| County | Establishments | Employees | Employees per establishment |
|---|---|---|---|
| Milwaukee | 20,466 | 435,400 | 21.3 |
| Waukesha | 12,761 | 246,232 | 19.3 |
| Washington | 3,427 | 54,404 | 15.9 |
| Ozaukee | 2,832 | 39,792 | 14.1 |
Milwaukee County has 51.8% of the metro's establishments and 56.1% of its jobs. Waukesha County, to the west, is the suburban headquarters belt: Kohl's in Menomonee Falls, Generac in Waukesha and Quad in Sussex. In the BLS count of jobs covered by unemployment insurance, Milwaukee County averaged 467,199 in 2025, 88.8% of them private, and the metro 814,475.
What Milwaukee businesses do
| Industry (NAICS) | Establishments | Employees | Average pay |
|---|---|---|---|
| Health care and social assistance (62) | 5,999 | 132,658 | $61,805 |
| Retail trade (44 to 45) | 4,367 | 78,721 | $35,127 |
| Professional, scientific and technical services (54) | 3,832 | 43,157 | $92,998 |
| Construction (23) | 3,262 | 33,916 | $84,052 |
| Finance and insurance (52) | 2,456 | 43,334 | $147,247 |
| Manufacturing (31 to 33) | 2,190 | 109,511 | $73,215 |
| Fabricated metal products (332) | 569 | 21,316 | $68,405 |
| Machinery (333) | 333 | 18,437 | $83,356 |
| Insurance carriers (5241) | 139 | 16,655 | $187,954 |
| Corporate and regional managing offices (551114) | 309 | 32,048 | $107,685 |
Average pay is our calculation from payroll. Health care has the most establishments and jobs, but manufacturing is the metro's signature: 2,190 plants averaging 50 employees, about four in ten of them metal fabricators or machinery makers. Insurance is the other surprise, with 139 carrier establishments paying more than $187,000 on average.
The largest companies headquartered in Milwaukee
Ranked by revenue in each company's latest 10-K, with the city from its cover page:
| Rank | Company | Headquarters | Revenue | Fiscal year ended |
|---|---|---|---|---|
| 1 | Fiserv | Milwaukee | $21.19 billion | Dec 2025 |
| 2 | ManpowerGroup | Milwaukee | $17.96 billion | Dec 2025 |
| 3 | Kohl's | Menomonee Falls | $15.53 billion | Jan 2026 |
| 4 | WEC Energy Group | Milwaukee | $9.80 billion | Dec 2025 |
| 5 | Rockwell Automation | Milwaukee | $8.34 billion | Sep 2025 |
| 6 | Regal Rexnord | Milwaukee | $5.93 billion | Dec 2025 |
| 7 | Harley-Davidson | Milwaukee | $4.47 billion | Dec 2025 |
| 8 | Generac | Waukesha | $4.21 billion | Dec 2025 |
| 9 | A. O. Smith | Milwaukee | $3.83 billion | Dec 2025 |
| 10 | Quad | Sussex | $2.42 billion | Dec 2025 |
| 11 | Manitowoc | Milwaukee | $2.24 billion | Dec 2025 |
| 12 | Zurn Elkay Water Solutions | Milwaukee | $1.70 billion | Dec 2025 |
| 13 | Brady | Milwaukee | $1.66 billion | Jul 2026 |
| 14 | Sensient Technologies | Milwaukee | $1.61 billion | Dec 2025 |
| 15 | MGIC Investment | Milwaukee | $1.21 billion | Dec 2025 |
Kohl's figure is total revenue, $14.78 billion of net sales plus $752 million of other revenue. Harley-Davidson's includes its financial services arm. Artisan Partners ($1.20 billion) and Badger Meter ($0.92 billion) come next. Wisconsin Electric Power is left out because it's a WEC subsidiary.
Two things to know about the names. Nine of the 15 make physical products, from Rockwell's automation equipment and Regal Rexnord's motors to A. O. Smith's water heaters, Manitowoc's cranes and Harley-Davidson's motorcycles. And Johnson Controls, long associated with Milwaukee, gives Cork, Ireland as its principal executive office in its 10-K, so it isn't ranked here. For companies elsewhere in the state, from Oshkosh to Green Bay and Madison, see companies in Wisconsin.
Finding and checking a Milwaukee company
| Source | What it's good for |
|---|---|
| Wisconsin Department of Financial Institutions, corporate records | The state register of corporations and LLCs: status, registered agent and annual reports |
| SEC EDGAR, Wisconsin filers | 10-Ks with revenue, headcount and official addresses for the state's public companies |
| Metropolitan Milwaukee Association of Commerce | The regional chamber and its member network |
| Wisconsin Manufacturers and Commerce | The statewide business and manufacturers' association |
| Wisconsin Economic Development Corporation | The state's industry profiles and site-selection help |
To vet a supplier, confirm it's in good standing with the Department of Financial Institutions, check any state professional or trade credential it claims, and for a manufacturer ask for its quality certifications (such as ISO 9001) and a current certificate of insurance.
Prospecting Milwaukee manufacturers
Milwaukee's plants are a natural target for anything that improves throughput or safety on a shop floor, and the Census counts let you size the list before you build it.
Illustrative example. The company, rates and results are fictional; the counts are from County Business Patterns.
Menomonee Valley Automation (mvautomation.example) designs and installs robotic welding and machine-tending cells.
- Fabricated metal product plants (NAICS 332) with 20 to 249 employees: Milwaukee County 43 + 20 + 11 = 74; Waukesha County 42 + 30 + 19 = 91.
- Machinery plants (NAICS 333) in the same size range: Milwaukee County 9 + 8 + 16 = 33; Waukesha County 32 + 16 + 12 = 60.
- Total: 258 plants in two counties, before Washington and Ozaukee.
- If one in five has a welding or machine-tending bottleneck worth automating this year, that's about 50 live projects; winning eight keeps two install crews busy.
It targets plant managers and operations vice presidents, and times outreach to annual capital planning in the fall and to labor shortages that show up in a plant's job postings. Working out which of 258 plants weld or machine in volume, and who signs off on capital spending there, is the research Bebop does for each account.
Subject: The welding station [Company] can't staff Hi [first name], Most fabricators your size around Milwaukee have at least one welding or tending job that's open more than it's filled. We build robotic cells for runs of 50 to 5,000 parts, installed over a weekend, with your operators trained on site. Could I visit and tell you whether one of your stations would pay back inside two years? [Your name], Menomonee Valley Automation
Next step: see the wider factory market in manufacturing companies in Milwaukee.
Sources
- County Business Patterns 2023, US Census Bureau, accessed 30 October 2026
- Quarterly Census of Employment and Wages, Milwaukee County, 2025 annual averages, US Bureau of Labor Statistics, accessed 30 October 2026
- Quarterly Census of Employment and Wages, Milwaukee-Waukesha metro area, 2025 annual averages, US Bureau of Labor Statistics, accessed 30 October 2026
- Fiserv annual report on Form 10-K, fiscal year ended 31 December 2025, Fiserv (SEC EDGAR), 19 February 2026
- ManpowerGroup annual report on Form 10-K, fiscal year ended 31 December 2025, ManpowerGroup (SEC EDGAR), 23 February 2026
- Kohl's annual report on Form 10-K, fiscal year ended 31 January 2026, Kohl's (SEC EDGAR), 19 March 2026
- WEC Energy Group annual report on Form 10-K, fiscal year ended 31 December 2025, WEC Energy Group (SEC EDGAR), 20 February 2026
- Rockwell Automation annual report on Form 10-K, fiscal year ended 30 September 2025, Rockwell Automation (SEC EDGAR), 12 November 2025
- Regal Rexnord annual report on Form 10-K, fiscal year ended 31 December 2025, Regal Rexnord (SEC EDGAR), 20 February 2026
- Harley-Davidson annual report on Form 10-K, fiscal year ended 31 December 2025, Harley-Davidson (SEC EDGAR), 26 February 2026
- Generac Holdings annual report on Form 10-K, fiscal year ended 31 December 2025, Generac Holdings (SEC EDGAR), 18 February 2026
- A. O. Smith annual report on Form 10-K, fiscal year ended 31 December 2025, A. O. Smith (SEC EDGAR), 10 February 2026
- Quad/Graphics annual report on Form 10-K, fiscal year ended 31 December 2025, Quad/Graphics (SEC EDGAR), 18 February 2026
- Manitowoc annual report on Form 10-K, fiscal year ended 31 December 2025, Manitowoc (SEC EDGAR), 18 February 2026
- Zurn Elkay Water Solutions annual report on Form 10-K, fiscal year ended 31 December 2025, Zurn Elkay Water Solutions (SEC EDGAR), 9 February 2026
- Brady annual report on Form 10-K, fiscal year ended 31 July 2026, Brady (SEC EDGAR), 3 September 2026
- Sensient Technologies annual report on Form 10-K, fiscal year ended 31 December 2025, Sensient Technologies (SEC EDGAR), 13 February 2026
- MGIC Investment annual report on Form 10-K, fiscal year ended 31 December 2025, MGIC Investment (SEC EDGAR), 25 February 2026
- Johnson Controls International annual report on Form 10-K, fiscal year ended 30 September 2025, Johnson Controls International (SEC EDGAR), 14 November 2025
Written by the Bebop team at Blackpearl Group. Published .
Questions people ask
How many businesses are in Milwaukee?
The Census Bureau counted 39,486 business establishments with paid employees in the Milwaukee-Waukesha metro in 2023, employing 775,828 people. Milwaukee County had 20,466 of them, Waukesha 12,761, Washington 3,427 and Ozaukee 2,832. Most are small, 19,574 had fewer than five employees, but 42 had 1,000 or more.
What are the biggest companies in Milwaukee?
By revenue in their latest 10-Ks, the biggest companies headquartered in the Milwaukee area are Fiserv ($21.19 billion in 2025), ManpowerGroup ($17.96 billion), Kohl's of Menomonee Falls ($15.53 billion for the year to January 2026), WEC Energy Group ($9.80 billion) and Rockwell Automation ($8.34 billion for the year to September 2025). Regal Rexnord, Harley-Davidson, Generac and A. O. Smith follow.
Is Fiserv headquartered in Milwaukee?
Yes. Fiserv's 10-K for 2025 gives 600 N. Vel R. Phillips Avenue, Milwaukee, Wisconsin as its principal executive office. It reported $21.19 billion in 2025 revenue, the most of any company headquartered in the metro, ahead of ManpowerGroup's $17.96 billion.
Is Johnson Controls a Milwaukee company?
Not by its filings. Johnson Controls International plc gives One Albert Quay, Cork, Ireland as its principal executive office in its 10-K for the year to September 2025, so it isn't ranked as a Milwaukee headquarters on this page, though it is often associated with the city.