SPRINGFIELD, Mo.– Springfield Mayor Ken McClure says a COSTCO membership warehouse is considering coming to Springfield.
COSTCO is known for carrying name brand merchandise for a discounted rate.
The warehouse would be located in East Springfield just south of Chestnut Expressway at Eastgate and Hwy 65. If all goes well, the building would break ground in Spring 2021 and open in Fall 2021.
The company is expected to bring around 125 jobs to the community. The average rate of an hourly employee at COSTCO is $25.50.
COSTCO carries a large section of items including groceries, appliances, household supplies, travel supplies, and clothing.
“I’m pleased to announce and also confirm the rumors are true that Costco Wholesale Corporation is considering a membership warehouse retail store in Springfield,” said Mayor Ken McClure in a press release. “We are so pleased to welcome Costco to our community. We know that there has been a strong interest from our citizens for this store and, in fact, that some Springfieldians drive the 150 miles to get to the nearest Costco. I am positive that Costco will expand our retail base, bringing new customers to Springfield who will surely shop elsewhere while they’re in town. In addition, Costco has a reputation for being a quality employer, offering some of the highest retail wages and a robust benefits package.”
In order to make this happen improvements to infrastructure would have to be made. Starting June 4, the Springfield Planning and Zoning Commission will consider a plot as well as a final development plan which would be the first steps in the COSTCO site. On the building site, the stormwater and streets would need to be improved and the city must relocate Eastgate south of Chestnut Expressway.
According to the City of Springfield, at its June 1 meeting, City Council will consider an ordinance authorizing an access and infrastructure agreement for the required public improvements, which are anticipated to cost $4.8 million. Costco will pay for these improvements and the City will reimburse Costco using a portion of the local sales taxes generated by their facility. This agreement will reimburse Costco using one-half of the 1-cent general sales tax, 1/4-cent capital improvements sales tax, and 1/8-cent transportation sales tax. The agreement has a term not to exceed 15 years, however, it is anticipated that reimbursement will occur earlier. In any event, any expenditures not reimbursed at the end of 15 years will be the developer’s responsibility. The City will pay the developer interest on the unpaid balance at a rate of 5%.