We have some great news for people who like to buy massive quantities of toilet paper!
Earlier today, KFOR's message board partner OKC Talk broke the news that Costco – a wholesale club retailer that's been more reluctant to move to Oklahoma City than an NBA free agent – has finally reached an extortion deal with the city to expand here.
Here are the details:
As OKCTalk reported by in June of 2017, Costco has been under contract on property at the Kilpatrick Turnpike and N. Western pending site engineering and negotiations with the city.
Now, the wholesale giant has reached a tentative agreement with Oklahoma City for up to $3 million in sales tax rebates and the store is set to move forward.
Tulsa provided Costco $2 million in incentives but the Washington-based company argued that the site of their choosing in Oklahoma City necessitates an off-set due to drainage and engineering issues. OKC provided Cabela's with $3.5 million in sales tax incentives for their store just on the other side of Western Avenue...
Assuming the official ratification of sales tax rebates and the subsequent property purchase, the new Costco would open in late 2018 or early 2019 and would coincide with Oklahoma's new liquor laws which go into effect in October 1st of this year. Under the new statutes, Costco would be able to sell wine which is a significant revenue generator for the company and a big draw to its stores. Grocers such as Costco will also be allowed to sell strong beer when the law changes.
That's pretty cool. I'm not a big fan of corporate welfare and think it's absurd that taxpayers have to offer incentives to for-profit corporations to expand and make money here, but whatever, this works for me.
First of all, although I've never been to one, I have heard legends of Costco from friends who escaped to other cities. They tell me it's awesome. Second, with a Costco in town, I can finally cancel my my Sam's Club Membership. No matter how hard they try, they'll never be able to take the Walmart out of Sam's.
