Kwik Trip Earmarks $151M for Expansion
LA CROSSE, Wis. — Kwik Trip Inc.'s substantial presence in Wisconsin is about to get even bigger.
The convenience store chain plans to invest more than $151 million to expand operations at multiple locations throughout the state, creating more than 500 jobs by 2027.
This qualifies Kwik Trip to earn an additional $15 million in performance-based Enterprise Zone tax incentives from the Wisconsin Economic Development Corp. (WEDC), the agency reported.
"Growth is good, not only for Kwik Trip, but most importantly for our coworkers and the communities we serve," said Kwik Trip President and CEO Scott Zietlow. "As a Top Workplace, we are able to provide strong, vibrant jobs throughout Wisconsin. We appreciate the support from the WEDC to make this happen."
[Read more: Kwik Trip to Install Self-Checkout at New C-stores]
The retailer's latest expansion plan marks the third time the state has invested in Kwik Trip's growth in Wisconsin, raising its eligibility for tax credits to a total of $41 million. In 2017, Kwik Trip and Wisconsin entered into the Enterprise Zone agreement; since then, it has invested more than $325 million into its Wisconsin support center operations, created nearly 1,800 new eligible full-time jobs, and grown and fostered mutually beneficial relationships with numerous Wisconsin supply chain partners, said the WEDC.
After Kwik Trip was awarded up to $21 million in Enterprise Zone tax credits in 2017, its rapid growth prompted an amendment raising that eligibility by $5 million with the primary purpose of expanding the company's production facilities in La Crosse. Kwik Trip anticipated hiring at least 662 new workers and investing at least $378 million in the project, but it has since spent more than $325 million in capital investment and created 1,793 new jobs eligible to earn tax credits at nonretail locations.
Based on Kwik Trip exceeding the goals of its Enterprise Zone, the WEDC board voted in November to amend Kwik Trip's contract to make it eligible for the additional $15 million in tax credits. The final amount of credits to be awarded will depend on the number of jobs created and amount of capital invested.
The WEDC is a public-private agency designed to assist business development and innovation through loans, grants, tax credits, and technical assistance programs.
"Kwik Trip is one of Wisconsin's most instantly recognizable success stories," 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."
La Crosse-based Kwik Trip operates more than 840 convenience stores in the Midwest. Its stores are known as Kwik Trip in Minnesota and Wisconsin, and as Kwik Star in Iowa and South Dakota.