Kwik Trip expanding Wisconsin operations
To support the opening of as many as 50 new stores a year, Kwik Trip is expanding operations in Wisconsin with support from the Wisconsin Economic Development Corporation.
WEDC has authorized the company -- which has 380 stores and over 12,700 employees in the state -- to get up to $21 million in tax credits; the amount actually earned will depend on the created jobs, capital investment, and supply chain spending.
Of the $21 million, $17.85 million can be earned through capital investment, while $2.5 million can be earned on purchases of equipment, goods and services from Wisconsin companies, and $650,000 can be earned from job creation.
To get the full tax credits for job creation, Kwik Trip has to create 329 jobs through Sept. 29, 2022, and must maintain them at least two years after that initial period.
“Kwik Trip’s decision to expand is great news for the La Crosse region as well as the entire state,” said Mark Hogan, secretary and CEO of WEDC. “Kwik Trip currently purchases over $900 million each year in goods and services from Wisconsin companies, and this expansion will further increase opportunities for statewide supply chain.”
Kwik Trip plans to invest $42 million in new facilities and $71 million in equipment for a new bread and bun production facility.
John McHugh, director of corporate communications and leadership development for Kwik Trip, says the expansion will provide “a new and expanded tax base, job opportunities for our co-workers, construction contractors, subcontractors, and suppliers.”
On top of the 329 expected jobs, WEDC cites an economic modeling survey to estimate this project will create 235 additional jobs. Altogether, WEDC says these jobs would generate over $1.1 million in additional state income tax revenue every year.
All in all, Kwik Trip currently has 621 stores and over 20,000 employees in three states. The company is building 56 new stores in 2017, including 36 in Wisconsin.
--By Alex Moe