The museum, scheduled to open July 12, includes a 1903 Harley, the company's first, The Milwaukee Journal Sentinel reports. In addition to motorcycles, there are bicycles, snowmobiles and golf carts, all products from Harley's past.

"I think the museum is going to profoundly affect how Milwaukee is viewed throughout the United States and throughout the world, in that the city will become a bona fide destination," said Michael Short, a special events promoter.

Harley hopes the museum, created at a cost of $75 million, will also help sell motorcycles, the report said. The company may be a U.S. icon, but many of its biggest fans are aging, and motorcycle sales have been hit by the economic slump and high gas prices.

"It's easy to quantify the benefits of having an extra $75 million cash on the balance sheet," said Ed Aaron, an analyst with RBC Capital Markets. "But it's hard to quantify the benefits of spending that much on a museum."