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DiscountRamps.com Receives Economic Development Tax Credits, Hits Online Sales Milestone
Sep 21, 2011 (04:09 PM EDT)
WEST BEND, Wis., Sept. 21, 2011 /PRNewswire/ -- DiscountRamps.com LLC, located in West Bend, Wisconsin, announced they have received and accepted a proposal for $50,000 in Wisconsin State income tax credits. The Proposal came September 1st from the newly formed Wisconsin Economic Development Corporation and is awarded for new job creation.
Discount Ramps also announced the same day they hit a symbolic sales milestone of exceeding $2,000,000 in online retail sales for the month of August, 2011. "This represents a 24.5% increase in online sales over our August 2010 sales," said CEO, Joel Lederhause.
"With the National Retail Federation reporting that overall August 2011 retail sales were flat, we were delighted to hit this milestone in our online sales growth. We are anticipating 20% increase in annual revenue for 2011, so the addition of the WEDC tax credits will assist us in hiring the talent we need to continue to raise the bar for our growth while also bringing more jobs to our community," continued Lederhause.
"The Wisconsin Economic Development Corporation (WEDC) is the state's lead economic development organization. WEDC is taking bold leadership to better serve more Wisconsin businesses, generate better results on economic development investments and bring more resources together to strengthen and promote Wisconsin's economy," stated a source from the agency.
DiscountRamps.com started the application process for the WEDC tax credits in summer of 2011 with assistance from the Economic Development of Washington County, a public-private partnership fueling growth companies for the creation of jobs and wealth.
"Achieving such a noteworthy sales milestone and receiving tax credit support from the WEDC demonstrates the broad-based confidence Discount Ramps has earned as a market leader capable of successfully connecting the dots between innovation and opportunity," observes Christian Tscheschlok, Executive Director of Economic Development Washington County.
"We recognized immediately that working closely with Joel and his team to fuel the growth company they built in our community would reap real job and wealth dividends for Washington County and we couldn't be more proud to be a part of accelerating their ongoing success," said Tscheschlok.
The WEDC proposal which totals credits up to $50,000 states, "Job creation tax credits will be distributed annually to DiscountRamps.com in direct relation to the number of new, full-time positions created and filled over a three year period."
"With the addition of 2 new positions last month and 4 new positions out for applications this month, we are well on our way to taking advantage of the entirety of this program," said Lederhause.
DiscountRamps.com, a privately held company, was recognized as the 417th largest internet retailer in the USA by Internet Retailer Magazine for 2010 and also recognized as one of Milwaukee's fastest growing firms by the Milwaukee Business Journal.
SOURCE DiscountRamps.com LLC