New Hampton, Iowa – Despite the closing of ShopKo in New Hampton, the town’s economy is growing as some businesses like Theisen’s is expanding.
The town’s economic development director Tammy Robinson says the store will move into the old ShopKo building and Zips will utilize the old Theisen’s building.
The expansion includes a total remodel of Shopko and won’t open until late fall according to Robinson. The store will have longer hours and more employees.
Robinson added the two parties are working to close the purchase by July 1 which includes a $67,000 incentive.
Chickasaw County and the Industrial Development Corporation will each pay $25,000 and the New Hampton Municipal Utility will kick in $17,000.
Robinson told North Iowa News it’s common practice to give incentives to expanding businesses.
She says sometimes you have to be creative to grow the economy of a community similar to New Hampton’s size.
The store is expected to open in the fall.