Kwik Trip is set to receive up to $5 million in performance-based tax credits as it continues to expand its food production and support campus in La Crosse.
That raises the total to a possible $26 million in tax credits the company stands to receive from WEDC, based on job creation and capital investment.
“Kwik Trip is a Wisconsin success story,” said Missy Hughes, secretary and CEO of WEDC. “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.”
Kwik Trip produces more than 80% of the products featured in its stores.
Known for its convenience stores, family-owned Kwik Trip began expanding its La Crosse production facilities in 2017. At the time, the company planned to hire at least 329 new employees and invest at least $309 million. WEDC created an Enterprise Zone and awarded Kwik Trip up to $21 million in tax credits to help with the growth.
During the COVID-19 pandemic, consumer demand soared for some of Kwik Trip’s food products, so work on the campus expansion accelerated.
So far, the company has created 527 jobs—60% more than anticipated—and has spent more than $230 million in capital improvements. Kwik Trip now expects the expansion will result in a total of 662 new, full-time jobs and a total capital investment of more than $378 million.
Because the company is exceeding the goals of its Enterprise Zone, the WEDC board voted to authorize the additional $5 million in tax credits.
“Our work with WEDC has helped Kwik Trip’s growth and ability to provide excellent job opportunities,” John McHugh, Kwik Trip’s director of public relations, said.
Based in La Crosse, Kwik Trip operates 768 retail stores in Wisconsin, Minnesota, Illinois and Iowa. The company produces more than 80% of the products featured in its stores, supplied by its commissary, bakery, dairy and distribution center in La Crosse.
Source: EIN Presswire