New Braunfels City Council approves incentive agreement with Costco

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Costco approached the city and Mayfair about opening a new store at this location in 2023, according to a meeting presentation.

The New Braunfels Economic Development Corporation found that big box membership stores—like Sam's Club and Costco—were a major source of "economic leakage," the presentation states.

New Braunfels residents spend an estimated $2,500 annually per household at these types of stores, Deputy City Manager Jordan Matney said. The new store is expected to retain economic activity that has been "leaking out" of the community.

The retailer will add significant new revenue to the city's tax base and create jobs—helping to stimulate the local economy, according to the incentive agreement.