The Wisconsin Economic Development Corp. has approved $5 million in additional tax credit incentives for Kwik Trip Inc.‘s ongoing headquarters expansion in La Crosse, which is now expected to be a $378 million project creating 662 jobs.
The incentive for the gas station and convenience store chain comes on top of the up to $21 million in tax credits awarded in 2017 for the expansion project, WEDC said in a press release. Since then, Kwik Trip has outpaced its initially planned $309 million investment and has created 527 new jobs, well over previous expectations of 329 jobs. WEDC created an Enterprise Zone in 2017 to assist with the project.
Kwik Trip operates a chain of 768 convenience stores in the Midwest, including 456 in Wisconsin, and is known for creating its own line of food products. So far, the company has invested more than $230 million on the expansion.
“Our work with WEDC has helped Kwik Trip’s growth and ability to provide excellent job opportunities,” said John McHugh, director of public relations for Kwik Trip. “The strong demand for our products has allowed us to expand even more than originally planned.”
The pace of the expansion prompted Kwik Trip to update its expectations for capital investment and job creation. The new forecast doesn’t include jobs or investment at its retail stores.
The new forecast makes the company eligible for up to $26 million in performance-based tax credits. The actual amount of credits to be awarded will depend on the number of jobs created and amount of capital invested.
“Kwik Trip is a Wisconsin success story,” Missy Hughes, secretary and CEO of WEDC, said in the release. “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.”