Governor Terry Branstad says the Hy-Vee supermarket chain is a “good corporate citizen” and deserves the $7.5 million in state tax incentives it has been awarded for expansion of its corporate headquarters in West Des Moines.
“We’re very blessed to have a company of that magnitude,” Branstad says. “Hy-Vee is a great corporate citizen. They’re located all over the state of Iowa. They treat their employees very well.”
Hy-Vee plans a more than $74 million expansion project that will add 72,000 feet of office space to its corporate headquarters and double the size of its conference center, which Branstad used to kick-off his 2014 reelection campaign. The Iowa Economic Development Authority approved the package of $7.5 million in state tax credits for Hy-Vee’s expansion project on Friday.
Hy-Vee operates 235 stores in eight Midwest states. According to the company’s website, Hy-Vee records sales of more than $8.7 billion each year. Hy-Vee, which is employee-owned, ranks as the 17th largest food retailer in the country.