Governor Doyle: Governor Doyle Announces $4 Million in New Markets Tax Credits for Logistics Health

Anne Lupardus, Office of the Governor, 608-261-2162
John Brevik, Business Operations of Logistics Health, Inc., 608-782-0404

Project Will Create 200 New Jobs, Retain 330 Jobs in La Crosse

LA CROSSE – Governor Jim Doyle announced today that Logistics Health, Incorporated will receive $4 million in New Markets Tax Credits to assist the business as it constructs a new 100,000 square foot corporate facility in downtown La Crosse. The project will help Logistics Health create more than 200 new jobs over the next two years and ensure that the company’s 330 employees remain in La Crosse.

“At the heart of my Affordability Agenda is a commitment to creating good jobs and growing our economy,” Governor Doyle said. “And with technology, training, trade promotion, and new investment, we are working hard to innovate and modernize Wisconsin’s economy. Today, I am pleased to announce an investment that will help a rapidly-growing La Crosse company continue to expand and provide more good-paying jobs for the community.”

The New Markets Tax Credits will help pay for the construction of a new $12.6 million Logistics Health building at the site of a former mill along the Mississippi River in downtown La Crosse. Logistics Health has outgrown its three leased locations and wants to locate all of its operations in one building.

The construction of the new facility will help revitalize La Crosse’s riverfront and downtown areas. Besides housing the company’s new offices, the six-story building will also contain a new restaurant and several retail stores on the first floor.

“Logistics Health is eager to expand, create more jobs, and invest in our workers and community,” said Tommy G. Thompson, President of Logistics Health, Inc. “We are very pleased to have the State of Wisconsin partner with us as we continue growing our company.”

New Markets Tax Credits help promote investment in distressed areas, including historic preservation, affordable housing, Brownfields, and commercial development. To date, New Markets Tax Credit projects have created more than 4,300 new jobs statewide and helped retain more than 1,175 jobs in Wisconsin.

The tax credit allocation was made by the Wisconsin Community Development Legacy Fund (WCDLF), which is overseeing statewide distribution of a $100 million allocation of federal New Markets Tax Credits. The fund’s main partners are the Wisconsin Housing and Economic Development Authority (WHEDA) and Legacy Bancorp of Milwaukee. WHEDA and Legacy created the WCDLF in their successful attempt to obtain the federal tax credits.

Under the leadership of Governor Doyle, WHEDA has provided over $75 million in housing and business development support in La Crosse County. Logistics Health is the second business in La Crosse to be awarded New Market Tax Credits.

Last year, Main Street Ingredients was awarded $10 Million in New Market Tax Credits to expand its existing business. Combined these two businesses will create almost 400 new, family-supporting jobs in La Crosse’s downtown area.

Logistics Health is a leading provider of military medical readiness, primary care, occupational health, homeland security, and emergency preparedness services to a wide range of government and private sector clients, including the U.S. Department of Defense and the U.S. Department of Health and Human Services. Founded in 1987, Logistics Health is headquartered in La Crosse, with offices in Washington, D.C.; Richmond, Virginia; Chicago, Illinois; and Atlanta, Georgia.

WHEDA is Wisconsin’s state housing finance authority. Its goal is to stimulate and preserve affordable housing, small business, and agribusiness.