LHI, a leader in the field of military medical readiness and bio-terrorism support, plays a vital role in the city of La Crosse’s economy. Recently it considered moving its operations to other locations. However, through the New Markets Tax Credits (NMTCs) it received from Impact Seven, coupled with its close ties to the community, LHI had decided to focus its long-term plans on growing step-in-step with the city of La Crosse. LHI will use the funds to construct a new corporate and commercial center called Riverside Center, LLC. “The tax credits free up working capital that otherwise would have been spent on the new building,” said Don Weber, the company's Chairman and CEO.
The property is located in a SBA Hub Zone on a prior brownfield and in a qualified low-income census tract. The La Crosse community had been affected by business flight and closings- continuous layoffs were followed by a series of out-migrations by various companies have left workers in the La Crosse area uneasy.
LHI will retain 330 jobs and redeploy them in the new corporate center in a distressed area of La Crosse. In addition, nearly 200 high-paying jobs will be created over the next three years to add a much-needed boost to the employment prospects in the area. There has been a great deal of community and political support for the Center. Said Governor Doyle, “This investment is a great example of the kind of public-private partnerships I’m working hard to encourage across Wisconsin, and I applaud all of the individuals involved.”