This month, it was announced that Costco Wholesale, one of the nation’s leading retailers, has selected Grand Junction as the site for its newest location, marking a significant investment in the area. The facility will be located on the north side of 24 Road and Interstate 70 and is anticipated to be open in 2026.
The development was approved unanimously by the Grand Junction’s City Council on October 4, 2023. On August 16th, the Grand Junction City Council authorized the creation of a metropolitan district, allowing the developer to repay a portion of infrastructure costs on the project with sales tax revenue it would normally turn over to the city. The infrastructure will become city property. The original deal had the City of Grand Junction forgoing $8.5 million in sales tax. After further deliberation and conversations with city and county leaders, as well as the developer, the City Council voted to increase the original $8.5 million in forgone sales tax, up to $12.3 million.
Mark Goldberg, Owner of Goldberg Properties and lead developer on this project, called this move by the Grand Junction City Council the “Linchpin” of the deal. Mesa County has also committed to pledging $200,000 towards public infrastructure improvements along with their Business Personal Property Tax Incentive.
Grand Junction Mayor Anna Stout stated, “What this will do is bring jobs, quality jobs, that pay well and have really impressive benefit packages and offer opportunities for advancement to people within this community.” Costco’s decision to expand into the Grand Junction area underscores the region as an emerging economic hub. The highly anticipated arrival of Costco will have a far-reaching impact on Mesa County through job creation, increased economic activity, investment in infrastructure, and community engagement.
The presence of the retailer is projected to create 275 net new jobs ranging from entry-level to management with an average annual wage of $47,507. The retailer will also bring a significant capital investment of $59 million with the development and construction of their facility. Additionally, it is projected that over the first 20 years of operation, Costco will generate:
•$64.2 million for Mesa County
•$11.7 million for Mesa County School District 51
•$8.3 million for the City of Grand Junction
•$2.6 million for Fruita
•$1.8 million for Palisade
•$774,000 for Collbran
•$774,000 for De Beque
The Grand Junction Economic Partnership (GJEP) worked closely with Costco’s developers during their expansion into the area. GJEP was able to provide data regarding labor force and migration, site selection support, identification of potential incentives, and connecting developers with key community stakeholders. “This is a legacy win for our community, and it speaks volumes about the positive business environment and opportunities available in the region. Costco’s presence in the Grand Junction area will not only enhance the retail landscape, it will also contribute significantly to the job creation and economic growth for Mesa County and surrounding areas”, stated Curtis Englehart, Executive Director of Grand Junction Economic Partnership.
GJEP played a vital role in providing projected economic impact data, facilitating discussions with developers and local authorities regarding incentives for infrastructure development, and finalizing the deal with the City of Grand Junction to bring Costco to the area. The successful effort to bring Costco to Grand Junction was a result of collaboration among local economic development partners including the City of Grand Junction, Mesa County, Grand Junction Area Chamber of Commerce, and GJEP. The Grand Junction Economic Partnership remains committed to actively supporting Costco’s integration into the community and will continue its goal of achieving shared economic prosperity. The arrival of Costco in the area is a significant achievement for all involved.
About the Grand Junction Economic Partnership
The Grand Junction Economic Partnership (GJEP) works to enhance the economic vitality and quality of life in the Grand Junction area by supporting high-impact capital investment and job creation. GJEP is a single stop for businesses looking to relocate or expand in the cities of Grand Junction and Fruita, the Town of Palisade, and surrounding communities in Mesa County. Operating as a 501(c)3, GJEP offers free services that help businesses navigate incentives and opportunity zones and connect with realtors and developers, the workforce, local leadership, and more. Visit www.gjep.org for more information.