A magnetic base for coupling a drill press to a ferromagnetic workpiece includes a ferromagnetic body having spaced, substantially parallel first and second rails. Each of the first and second rails includes a flat bottom surface engageable with the ferromagnetic workpiece. A coil is positioned between the first and second rails for generating a holding force on the ferromagnetic workpiece. The coil defines a central axis that is parallel with the bottom surface of each of the first and second rails.