DALLAS — Costco is asking the city for $3 million in economic incentives to build a new store just southwest of I-635 and North Central Expressway.
The city's Office of Economic Development is proposing a chapter 380 economic development grant to help Costco develop and construct a 150,000 square-feet store on 13.2 acres of land located at 12550 Coit Road.
Dallas’ city council is expected to take up the issue at its May 11 meeting. If approved, grant funds will be paid in five installments over four years.
Costco estimates that the new store will bring 175 permanent jobs to the area in its first year, with the average hourly wage starting at $22. The company also estimates that the first year's annualized gross sales would be around $125 million.
Costco hopes to break ground in August, with construction completed by February 2017.
