MILWAUKEE (CBS 58) -- Harley-Davidson and Summerfest announced a new multi-year partnership that makes the motorcycle company the "Official Motorcycle of Summerfest" and presenting sponsor of the festival's July 4 celebration of America's 250th anniversary.

The Fourth of July event will feature a 20-minute fireworks finale over the lakefront along with a special admission promotion and gate giveaway for the first 5,000 fans, according to a joint release from the organizations.

As part of the announcement, Harley-Davidson confirmed it is moving away from its annual Homecoming celebration, instead refocusing on milestone anniversary events every five years, according to a company spokesperson. The next will be the brand's 125th anniversary in 2028.

The partnership also includes sponsored motorcycle parking, H.O.G. member perks, onsite exhibit space and an annual promotion day at the festival.

"Milwaukee is our home and always will be," said Harley-Davidson President and CEO Artie Starrs in a Tuesday, Feb. 24 press release alongside Summerfest.