Companies in Milwaukee: 39,486 businesses, a factory economy and 15 headquarters worth $102 billion

Milwaukee punches above its size: a metro with fewer than 40,000 workplaces holds the headquarters of Fiserv, ManpowerGroup, Kohl's, WEC Energy and Rockwell Automation. Underneath them is a manufacturing base that still employs one in seven private-sector workers.

Market report6 min readPublished

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

MeasureMilwaukee-Waukesha metro, 2023
Establishments with paid employees39,486
Employees775,828
Annual payroll$52,245,445,000
Average annual pay$67,342
Average employees per establishment19.6
Share of US establishments0.47%
Employees at the establishmentEstablishments
1 to 419,574
5 to 97,040
10 to 195,409
20 to 494,494
50 to 991,641
100 to 249972
250 to 499235
500 to 99979
1,000 or more42

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

CountyEstablishmentsEmployeesEmployees per establishment
Milwaukee20,466435,40021.3
Waukesha12,761246,23219.3
Washington3,42754,40415.9
Ozaukee2,83239,79214.1

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)EstablishmentsEmployeesAverage pay
Health care and social assistance (62)5,999132,658$61,805
Retail trade (44 to 45)4,36778,721$35,127
Professional, scientific and technical services (54)3,83243,157$92,998
Construction (23)3,26233,916$84,052
Finance and insurance (52)2,45643,334$147,247
Manufacturing (31 to 33)2,190109,511$73,215
Fabricated metal products (332)56921,316$68,405
Machinery (333)33318,437$83,356
Insurance carriers (5241)13916,655$187,954
Corporate and regional managing offices (551114)30932,048$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:

RankCompanyHeadquartersRevenueFiscal year ended
1FiservMilwaukee$21.19 billionDec 2025
2ManpowerGroupMilwaukee$17.96 billionDec 2025
3Kohl'sMenomonee Falls$15.53 billionJan 2026
4WEC Energy GroupMilwaukee$9.80 billionDec 2025
5Rockwell AutomationMilwaukee$8.34 billionSep 2025
6Regal RexnordMilwaukee$5.93 billionDec 2025
7Harley-DavidsonMilwaukee$4.47 billionDec 2025
8GeneracWaukesha$4.21 billionDec 2025
9A. O. SmithMilwaukee$3.83 billionDec 2025
10QuadSussex$2.42 billionDec 2025
11ManitowocMilwaukee$2.24 billionDec 2025
12Zurn Elkay Water SolutionsMilwaukee$1.70 billionDec 2025
13BradyMilwaukee$1.66 billionJul 2026
14Sensient TechnologiesMilwaukee$1.61 billionDec 2025
15MGIC InvestmentMilwaukee$1.21 billionDec 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

SourceWhat it's good for
Wisconsin Department of Financial Institutions, corporate recordsThe state register of corporations and LLCs: status, registered agent and annual reports
SEC EDGAR, Wisconsin filers10-Ks with revenue, headcount and official addresses for the state's public companies
Metropolitan Milwaukee Association of CommerceThe regional chamber and its member network
Wisconsin Manufacturers and CommerceThe statewide business and manufacturers' association
Wisconsin Economic Development CorporationThe 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.

  1. Fabricated metal product plants (NAICS 332) with 20 to 249 employees: Milwaukee County 43 + 20 + 11 = 74; Waukesha County 42 + 30 + 19 = 91.
  2. Machinery plants (NAICS 333) in the same size range: Milwaukee County 9 + 8 + 16 = 33; Waukesha County 32 + 16 + 12 = 60.
  3. Total: 258 plants in two counties, before Washington and Ozaukee.
  4. 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.

Email to a plant manager at a Milwaukee-area fabricator
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

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.

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