Council President Says Costco Could Be Coming to Mobile

Council President Says Costco Could Be Coming to Mobile

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Mobile, AL -

The three largest retailers in the U.S. are Wal-Mart, Target, and Costco. The Mobile area has Wal-Marts and Targets, but no Costco's. That could soon change. Mobile City Council President Reggie Copeland says he's about to close a deal to bring a Costco to Mobile.

 

Costco has 622 stores in the U-S and in seven foreign countries. Its total sales top Sam's Club making it the world's top warehouse retailer. There are three Costco's currently in Alabama: in Montgomery, in Hoover, and in Huntsville. The only other Costco in the region is in Tallahassee, Florida.

 

According to Copeland, a Costco and other stores will be located on Satchel Paige Drive near Hank Aaron Stadium and the Stadium Theater. Copeland says the development will be a 100 million-dollar project, creating 1,800 jobs, and producing 10 million-dollars in tax revenue for the city. Beside Costco, Copeland mentioned restaurants and sporting goods stores being part of the complex.

 

Satchel Paige Boulevard is currently two lanes. Copeland says it will be widened to four-lanes with the Chattanooga-based developer picking up the cost.

 

In many cases developers will seek tax-increment financing from a city to pay for infrastructure costs.

That would use a portion of future taxes collected at the shopping development to pay off the improvements.

 

Industry experts say it's also common now for larger developments to seek other financial incentives.

Copeland says the developers could be coming before the city council by the end of the summer.

 

Copeland detailed the plans to members of the Ladd-Peebles Stadium Board during a meeting earlier this month.

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