Costco to Pearland with 150,000-SF store

PEARLAND – Costco will open a 150,000-sf facility with an attached tire center and also a fueling station at the northwest corner of Hwy. 288 and CR 59 in starting in October.

Pearland City Council approved a pair of agreements with Costco, which include the city refunding 50 percent of the 1 percent of Costco’s sales tax revenue collected for a period no longer than ten years or an amount greater than $750,000 total.

Costco requested the agreements because of Pearland’s trade area size, business density count and the associated cost of construction.

The final stipulation involved the Pearland Economic Development Corporation (PEDC) reimbursing Costco for the needed infrastructure improvements associated with the site on Business Center Dr.

The PEDC agreed to pay Costco $246,827 when the business invests $30 million, receives a certificate of occupancy and creates 153 jobs at the Pearland location. The PEDC has been trying to attract Costco since late 2013, officials said.

The store will create approximately 150 jobs, with an estimated total investment of $33.7 million.

The membership-based warehouse store sells a variety of goods, including appliances, furniture and groceries. Costco is the second largest retailer in the United States — and third biggest in the world — as of 2014, according to Pearland officials.