The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The web-only retailer also could get $50,000 in state income tax credits to create jobs.
DiscountRamps.com LLC topped $2 million in August web sales, representing a monthly revenue record for the web-only retailer of loading ramps and related accessories.
The August sales milestone reflected a 24.5% increase from August 2010, says CEO Joel Lederhause. Internet Retailer calculates August 2010 sales were about $1.6 million.
The good news was made even better when DiscountRamps.com, No. 417 in the Internet Retailer Top 500 Guide, learned it would receive $50,000 in state income tax credits from the Wisconsin Economic Development Corp. to create jobs.
“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,” Lederhause says. “We are anticipating a 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.”
Job creation tax credits will be distributed annually to DiscountRamps.com in relation to the number of new, full-time positions created and filled over a three-year period, the economic development organization says. “With the addition of two new positions last month and four new positions out for applications this month, we are well on our way to taking advantage of the entirety of this program,” Lederhause says.