An economic development agreement that will bring a Costco location to Pearland was approved unanimously by City Council Monday.
The planned location at the northwest corner of State Highway 288 and County Road 59 is expected to open in October of this year. The membership wholesale club carries a variety of merchandise.
“In time for Christmas,” remarked Mayor Tom Reid.
Pearland Economic Development Corp. President Matt Buchanan said negotiations have been ongoing with Washington-based Costco, the largest membership warehouse club chain in the U.S.
“We’ve been working with Costco since late 2013,” he said.
In the economic development agreement, the city will refund half its sales tax revenue either for 10 years or up to $750,000, along with $246,000 in reimbursements for infrastructure investments at the site. Pearland EDC approved the deal on Jan. 29.
Plans call for a 150,000 square-foot location with an attached tire center and free-standing fuel station. Total investment is estimated at $33.7 million, and the project will create approximately 75 full-time and 75 part-time jobs.