Kwik Trip is now eligible to earn up to $41 million in state tax credits by continuing to expand its operations in Wisconsin, according to WEDC.
The Wisconsin Economic Development Corp. yesterday announced the La Crosse-based convenience store chain plans to invest more than $151 million across multiple sites in the state and create more than 500 jobs by 2027.
Due to the company exceeding targets for previously authorized Enterprise Zone tax credits, the state agency’s board recently voted to amend the contract between Kwik Trip and WEDC to provide up to $15 million in additional tax credits that can be earned through job creation and capital expenditures. That’s on top of the $26 million the company was previously eligible for, according to the WEDC release.
The latest plans include expanding Kwik Trip’s dairy, commissary and bakery operations in La Crosse, as well as buying and renovating an office building in Onalaska and building a new satellite distribution center.
“Growth is good, not only for Kwik Trip, but most importantly for our coworkers and the communities we serve… We appreciate the support from the WEDC to make this happen,” Kwik Trip President and CEO Scott Zietlow said in a statement.
The company has invested more than $325 million into its support center operations in the state since entering the original tax credit agreement with the state in 2017, the release shows. It has also created 1,793 new jobs at non-retail sites that are eligible for tax credits, which WEDC says is “well above” what was planned at the start of the expansion effort.
Kwik Trip has so far been verified for $1.3 million in job creation tax credits and $22.2 million in capital investment tax credits, according to a WEDC spokesperson. And the company has also been verified for $2.5 million in WI Supply Chain credits. The $41 million total includes the tax credits the business has already earned through the agreement, and the timeframe for earning them runs through Sept. 30, 2027.
Kwik Trip now has 506 stores in the state and 865 stores in total across Wisconsin, Minnesota, Iowa, Illinois, Michigan, and South Dakota. Its total eligible in-state employee number has increased from 4,342 in 2017 to 12,442 this year, according to WEDC.
WEDC Secretary and CEO Missy Hughes called Kwik Trip one of the state’s “most instantly recognizable success stories” and praised its rapid growth.
“While most of us are familiar with Kwik Trip for its retail operations, the company continues to grow its manufacturing and supply chain base in our state, which is creating hundreds of jobs and new investments even faster than anyone could have anticipated,” she said.
See the release: https://wedc.org/blog/kwik-trip-continues-to-expand-operations-in-wisconsin/
–By Alex Moe
