Costco to open new warehouse store in Covington
COVINGTON, La. (WVUE) - Costco Wholesale plans to open a second New Orleans-area location, along Pinnacle Parkway in Covington, St. Tammany Parish officials announced Monday (Dec. 19).
“Costco Wholesale is a highly desirable brand with a high-caliber retail operation that prioritizes employee well-being and adds significant value to communities,” St. Tammany Corporation CEO Chris Masingill said in a statement. “This significant investment in St. Tammany Parish is also a great example of what happens when economic development, local government and civic and community leaders work together to ensure the overall success of a project.”
Masingill and St. Tammany Parish president Mike Cooper said the $45.8 million project targeted for the Nord-du-Lac commerce park will eventually create 75 full-time and 75 part-time jobs, and generate an estimated $60 million in new sales tax and property tax revenue for the parish over the next 10 years.
It was unclear when groundbreaking for the 159,000 square-foot warehouse store would begin or when it would open. Masingill said Costco has a track record of generally opening new locations about six months after groundbreaking and construction begins.
The announcement said market research has shown new Costco locations generally attract shoppers from a 60-mile radius, and draw 30-40 percent more unique shoppers than other major retailers.
Costco opened its New Orleans location at 3900 Dublin St. on Sept. 21, 2013. The Covington location will be the company’s fourth store in Louisiana, joining outlets in New Orleans, Baton Rouge and Lafayette.
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