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Yorktown Chamber of Commerce Weighs in on Costco

Yorktown can not afford to turn Costco away!

There is plenty of speculation on the to go around. Here are some facts on why it is imperative Yorktown welcomes the Costco project:

Costco is the third largest retailer in the US with revenues over $89 billion dollars. It employs 161,000 employee's of which 90% are benefits eligible and 98% are enrolled. Its benefit package includes medical, dental, vision, pharmacy, life, disability, and long term care to name a few.

Costco recruits from within the community for which the store is located. It pays an average salary of $22.40 per hour and full time cashiers earn $48,680 per year after five years of employment.

Here are the most important facts:

Costco will pay $1.17 million dollars in school taxes without a single student attending school (student costs are $25,000 per year 2011) and has raised $17 million dollars for children's hospitals in 2011. In addition, Costco contributes back to the community in which each store is located, 1% of pre tax dollars, in this case the store is projected to have annual revenues of $150 million dollars, thus giving back $1.5 million dollars to Yorktown every year the store is in existence.

Since 1993, Costco has donated 4 million backpacks to children in need. Costco has contributed over 1,000 scholarships to needy families. In addition to this, Costco and the DOT have pledged $10 million dollars to road improvements from Strang Boulevard to the Pines Bridge intersection on Rte 202.

Its plan specificlly calls for storm water management controlling heavy rains and eliminating flooding down stream. The will tie in 10-12 homes along Old Crompond Rd at the developers cost. In researching this development, we find in Florida for instance, as well as other communities, many intersections are home to Costco, BJ's, Walmart and K-Mart, endorsing the fact that competition is good.

We could have a wish list for other projects to be built on this site; however, Costco is the only company that has made a substantial investment in Yorktown. Any other community in Westchester would welcome the Costco brand with open arms.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Bobby Ackerman January 28, 2012 at 11:57 AM
Yorktown... Wake up. Mr. Visconti is absolutely right. Any town should be thrilled and welcome Costco with open arms. They are a first class, highly successful organization with a stellar reputation of doing the right thing. Visit any Costco anywhere and you'll find above average motivated employees selling above average merchandise at terrific prices. Success and Excellence breed more of the same! Local businesses will prosper. The tax base will have a major contributor and more people will have jobs. What's worse? More traffic or higher taxes? The State will eventually get the traffic situation right. Costco will have the weight to get the State to move. Yorktown... associate with Excellence. Costco is clearly Excellence and Excellence is contagious!
Mark Lieberman January 29, 2012 at 11:04 PM
The Chamber of Commerce should represent all it's members. The following is a quote from www.wikinvest.com. Costco earns it's revenue by competing with other companies in the area. "Costco's merchandise categories include: Sundries (23% of Net Sales): Sundries is Costco's largest segment by revenue and includes the sales of candy, snack foods, tobacco, alcoholic and nonalcoholic beverages, and cleaning and institutional supplies. Hardlines (19% of Net Sales): The hardlines segment sells major appliances, electronics, health and beauty aids, hardware, office supplies, garden and patio, sporting goods, furniture, and automotive supplies. Food (21% of Net Sales): This segment is responsible for the sale of dry and institutionally packaged foods (oatmeal, rice, cereal, etc.) The food segment is Costco's second largest segment. Softlines (10% of Net Sales): Softlines is Costco's smallest business segment and is responsible for the sale of apparel, domestics, jewelry, housewares, media, home furnishings, cameras, and small appliances (toasters, microwaves). Fresh Food (12% of Net Sales): The fresh food segment is responsible for the sale of meat, bakery goods, deli and produce. Ancillary and Other (15% of Net Sales): The ancillary and other business segment is in charge of the company's gas stations, pharmacy, food court, optical, one-hour photo, hearing aid, and travel products."
Jonathan Nettelfield January 29, 2012 at 11:21 PM
Yes, I too was scratching my head on that one! Let me see. Here are the alternatives: A brand new village business hamlet with plenty of opportunities for local entrepreneurs and existing local businesses to site their offerings (as envisioned by the Comp Plan)...... OR A big box store that will suck the oxygen out of the local economy and send it's profits to its management and shareholders. I can understand a homeowner getting excited by "better shopping", but a local Chamber of Commerce?
Bill January 30, 2012 at 12:18 AM
Did you know that Costco was originally started so businesses could buy items cheaper for their own use? That many small restaurants use them to buy supplies? That non-retail businesses buy supplies there? They still have business memberships and extended hours for business members. Given that the Chamber has all sorts of members, the case can easily be made that they ARE working in the interests of their members by encouraging Costco to move in. How many other companies have joined the Chamber and participated in their community event before they even had permission to build? Enough with the dire predictions of killing the local economy. This isn't Walmart, and even they haven't killed their competition in Cortlandt. Everyone says that they want Whole Foods and Trader Joes (which isn't happening, but let's not bother with reality). Why aren't they as concerned about damaging a small local merchant like Mrs. Green's? And who's going to buy the property and develop a new village business hamlet? The town? What you describe sounds like some someone's dream that could never be practical. There was a presentation to the town board for a shopping center there with upscale stores a couple of years ago. To the best of my knowledge that never went any further (and obviously the developer no longer has the rights to the land).
Jonathan Nettelfield January 30, 2012 at 03:31 AM
The concept of a warehouse club has long ago migrated from being a wholesaler. There's way too much revenue in the direct-to-consumer game to ignore! The main argument against Costco, which I agree is a reputable company, is not that Costco is evil. It is not. It is just that it should not be located in a place that the Comp Plan has laid aside for something visionary and which looks to the future. The future that residents of Yorktown chose and the future that most probably can improve the way we live. By putting a big box store there, any big box store, the chances of any kind of walkable urban hamlet being developed will disappear forever. Dream is precisely what the Comp Plan is. Who says a new village business hamlet "could never be practical"? I agree, today it would be difficult, but that is no reason to throw out what is a great asset, the location, and just take the easy way out. By bowing to current commercial pressure and implementing a 20th century planning regimen, Yorktown would be sacrificing a long-term asset for a short term gain....and there are those of us who are not certain about the gain. Great towns become great by not always taking the easy way. Perhaps today's NY Times article is relevant to this discussion. http://www.nytimes.com/2012/01/29/realestate/westchester-in-the-region-trackside-developments-catch-on.html?emc=eta1

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