Costco recently filed a building permit application with the Town of Gypsum for a 159,000-square-foot retail center in the Airport Gateway Commercial Park.
The big-box retailer has been able to slip relatively quietly into Gypsum is because the zoning is already in place at the Airport Gateway Commercial Park. The location is also not right in someone's neighborhood or in an open space entrance to town.
The economic development agreement calls for the town to rebate 38 percent of the sales tax that Costco generates for three years; or until a $4.2 million cap is reached – whichever comes first. If the revenue cap isn't met in three years, the town will rebate 15 percent of the sales tax for an additional two years.
The Town estimated that in Costco's first years of operation, Eagle would get about $230,000 annually in sales tax, and Gypsum would get $350,000 in addition to the sales tax revenues that are committed or rebated.
Costco will pay for traffic lights at Highway 6 and Cooley Mesa Road – estimated cost is $500,000 – and for several hundred linear feet of improvements to Highway 6. Costco will hire 200-300 employees, which will make it the second largest employer in Gypsum. The school district is the biggest employer in the town.
This is the first time Costco has come to a community with less than 150,000 residents. Currently, the closest Costco is in Denver.
Read the full article in the Post Independent . . .
Photo from NY Times article on Costco
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