Katy EDC Helps Persuade Grocery Giant Costco to Open New Store in Katy
Katy, Texas (August 14, 2013) – Costco, the giant grocery store chain with locations worldwide, is planning to open a Katy area store in the southwest corner of the Interstate 10/Grand Parkway intersection, about one mile east of the border between Fort Bend and Harris counties. The new store will be built by early spring 2014 and will be Costco’s fourth Houston area location.
The Costco site will be located on a 14-acre tract of land and will be part of a planned shopping center surrounded by several smaller buildings housing other businesses and retailers. Once the new store is opened, it is expected to create more than 200 new jobs at an average wage of $40,000 per year, plus benefits, and will create a $15 million capital investment. The Katy Area Economic Development Council assisted Costco in negotiating crucial tax incentives to accompany Costco’s site selection for the store.
Katy Area EDC President/CEO Lance LaCour said the new store will be much more convenient for Katy area residents. LaCour noted that currently, when Katy area residents want to shop at a Costco, they must travel to the Costco location at Bunker Hill and Interstate 10.
Costco decided on the Katy area, in part, due to attractive tax incentives. The Houston City Council voted July 17 to grant Costco $1 million in tax rebates in exchange for infrastructure work undertaken by the corporation.
