Kohl's Corp. has agreed to keep its headquarters in the village of Menomonee Falls, about 20 miles northwest of Milwaukee.
The department store chain will take ownership of about 100 acres in a Menomonee Falls business park. Kohl's will also acquire a small office building adjacent to the land.
In exchange, the village will assume ownership of Kohl's former distribution center in the village. The company says it plans to build a second corporate campus on the vacant land and continue to operate it current headquarters in Menomonee Falls. Currently, about 4,900 people work at its corporate locations throughout the Milwaukee area.
Kohl's CEO Kevin Mansell says the company always preferred to stay in Wisconsin, but needed time to study options, including a move outside the state.