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DES MOINES, Iowa – A Des Moines City Council memo shows that Kum & Go LC is applying for more than $8.5 million in state tax incentives to move its headquarters from West Des Moines to downtown Des Moines, the Des Moines Register reported.
The state enterprise zone incentives include $6.7 million in investment tax credits and a $1.86 million sales tax rebate. Kum & Go is expected to seek additional city incentives.
The convenience store chain's new downtown headquarters, which was first announced in March, is planned to occupy a 120,000-square-foot building at 14th Street and Grand Avenue that will cost an estimated $92 million.
The Des Moines City Council was scheduled to vote on the application Monday night, according to the news outlet. If it is approved, the application would then be reviewed by the Iowa Economic Development Authority at its June 20 meeting.