Costco plans to open first store in New Orleans next year - FOX 8 WVUE New Orleans News, Weather, Sports

Costco plans to open first store in New Orleans next year

Costco renderings courtesy: Mulvanny G2 Architecture Costco renderings courtesy: Mulvanny G2 Architecture

New Orleans, La. - The national retail giant Costco Wholesale Corporation will build a new store at the old Carrollton Shopping Center site.

The new store will be a 148,000 square feet warehouse.

The City of New Orleans says the project will create about 200 full and part-time jobs, utilize 120 prevailing-wage local construction positions and result in a capital investment of over $40 million.

"New Orleanians have said they wanted retail, so we're delivering," said Mayor Landrieu. "Costco will bring quality shopping to the city and will attract shoppers from the region, improving quality of life and generating new tax revenues. It also will create quality jobs, as Costco is well known for providing some of the best wages and benefits in the retail sector. Finally, it will revitalize an important commercial property that has been vacant and underutilized for several years. We look forward to welcoming Costco to the community."

"We are thrilled to be opening a location in New Orleans," said Costco Chairman Jeff Brotman. "We've seen first-hand the resilience of its residents, and we are excited about contributing to the area's revitalization. The entire community has enthusiastically welcomed us, and we appreciate the warm reception we've experienced."

The City says the New Orleans Business Alliance did an economic and fiscal analysis on the Costco project. The group determined the direct net fiscal impact of the retail giant, taking into account City incentives, over a ten year period is at a minimum expected to be $21 million.

The City adds Costco has submitted initial plans to the City, which are in the approval process. Pending final approval of incentives and permits, Costco anticipates the warehouse being built and open in 2013.

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