diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 26742793..6e87151a 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -17,6 +17,7 @@ Fixed
 - Improve typing/logic for `options` in decode, decode_complete by @pachewise in `#1045 <https://github.com/jpadilla/pyjwt/pull/1045>`__
 - Declare float supported type for lifespan and timeout by @nikitagashkov in `#1068 <https://github.com/jpadilla/pyjwt/pull/1068>`__
 - Fix ``SyntaxWarning``\s/``DeprecationWarning``\s caused by invalid escape sequences by @kurtmckee in `#1103 <https://github.com/jpadilla/pyjwt/pull/1103>`__
+- Development: Build a shared wheel once to speed up test suite setup times by @kurtmckee in `#1114 <https://github.com/jpadilla/pyjwt/issues/1114>`__
 
 Added
 ~~~~~
diff --git a/tox.ini b/tox.ini
index 5400297c..4298da34 100644
--- a/tox.ini
+++ b/tox.ini
@@ -35,6 +35,10 @@ isolated_build = True
 
 
 [testenv]
+# Build a shared wheel once, rather than building a .tar.gz file
+# and forcing each individual tox environment to convert it to a wheel.
+package = wheel
+wheel_build_env = build_wheel
 # Prevent random setuptools/pip breakages like
 # https://github.com/pypa/setuptools/issues/1042 from breaking our builds.
 setenv =