Club store Costco will build it’s first north shore location with a $45.8 million development on Pinnacle Parkway near Covington.
The store, coming in at 159,000 square feet, will be the first Costco in St. Tammany Parish.
CEO of the St. Tammany Parish economic development agency, Chris Masingill, made the announcement earlier today.
The store will be located on a 13-acre site owned initially by Franciscan Missionaries of Our Lady Health System, Our Lady of the Lake. They planned to open a clinic on the site.
The location of the Costco is along a busy stretch of I-12 in west St. Tammany Parish.
Other stores including Academy Sports, Kohl’s, and a Sam’s Club are nearby.
The widening of i-12 in the area will help alieve heavy traffic.
According to the Times-Picayune/New Orleans Advocate the new Costco will employ 75 full time employees averaging a $59,000 annual salary. 75-part-time jobs are also expected to be added.
The store will generate over $60-million dollars in annual sales and property tax revenue over the next decade.
“We are elated to announce that one of our nation’s leading companies, Costco, is investing in St. Tammany Parish and will be opening a store in the Covington area,” St. Tammany Parish President Mike Cooper said. “Costco is a company that aligns with our parish’s values, in providing a family-first atmosphere, where employees thrive and customers are welcomed."