MIDLAND, Texas — Nearly five years ago, Midland was set to welcome a new Costco.
However, those plans fell through and Costco never came to Midland.
Fast forward to today and both the city of Midland and Midland Development can say that they are in an agreement to bring Costco to the Tall City.
“This is a situation where it's an amenity that has been requested by the city of Midland and from citizens to the MDC and the city," said Sara Harris, MDC Executive Director. "So, it was something that we pursued.”
Harris told Newswest 9 that both sides started talking about a couple months ago. Talks went well, leading to today's joint announcement from the city and MDC.
The location of the 174,440 square foot Costco will be in West Midland. According to Harris, it will be north of State Highway 191 and west of Highway 158.
Midland and MDC also offered an incentive package to Costco.
"The MDC will reimburse up to a specified dollar amount for qualified infrastructure and site improvements," Harris said. "Then there are tax rebates from the city of Midland as well.”
The plan is for the new Costco to bring in up to 100 new jobs to Midland's economy while also developing the area around the Costco.
“The corridor along (State Highway) 191 is a prime location for additional high quality retail development, so this opens up for the next step in development along that area," Harris said. "In addition, there are a lot of dollars that leave the city midland when Midlanders leave the locations to go and shop.”
Harris continued to say that the dollars that Midlanders use to drive elsewhere to do their shopping could be infused into the Midland economy.
It’s going to be a couple years until you can sign up for a Costco membership.
Construction is set to begin on or before June 1, 2025 and is expected to be completed on or before August 31st, 2026.
According to Harris, the agreement will be sent to the MDC Board for approval on August 12. After it is signed off by MDC, it will then be sent to the Midland City Council meeting on August 13 for approval.