Cabela's
8/27/14 Update: $12.15 million building permit application for 80,030 square foot building at 1200 W. Memorial.
www.cabelas.com
As we've reported, Cabela's is very close to announcing it's first location in Oklahoma, most likely in the Chisholm Creek development at Memorial and Western -- same development as TopGolf.
It's official!!
It's True! Cabelas is coming to Chisholm Creek!
"Construction on the 80,000-square-foot store – Cabela’s first Oklahoma location – is scheduled to begin later this year and the company anticipates a fall 2015 opening. The store will be located in the newly planned Chisholm Creek development near the John Kilpatrick Turnpike at N. Western Avenue.
“Cabela’s couldn’t be more excited to announce our first Oklahoma location,” Millner said. “Customers across Oklahoma have been asking us to bring a Cabela’s store to the state for years and we look forward to bringing them the extraordinary Cabela’s experience.”
The store will employ approximately 180 full-time and part-time employees, with most coming from Oklahoma City and the surrounding area.
The building will be built in Cabela’s next-generation layout and feature a mountain replica, museum-quality wildlife displays, indoor archery range and archery teach room, deli, Gun Library, Fudge Shop and Bargain Cave. Additionally, it will offer a full-service boat shop and a comprehensive selection of Wildlife and Land Management products, including tractors, attachments and implements."
There is an item on next week's Oklahoma City Economic Development Trust (OCEDT) agenda for substantial incentives:
Cabela’s Wholesale Inc, (“Cabela’s”) has been seeking to locate a Next Generation store of approximately 90,000 - 98,000 sf in the metropolitan area for more than a year. In an effort to support Cabela’s decision to locate within the city limits of Oklahoma City, City staff and the Alliance for Economic Development of Oklahoma City and Cabela’s have agreed to key business terms that will bring Cabela’s to Oklahoma City. The location has not been determined as Cabela’s is evaluating numerous locations within Oklahoma City.
Company Background
Cabela’s, known as the “World’s Foremost Outfitter” of hunting, fishing and outdoor gear was founded in 1961 and has grown to become a leading specialty destination retail operation with strategically placed stores throughout the United States and Canada. Cabela’s brand has grown to become one of the most well-known outdoor recreation brands in the world, making it a true destination retailer that offers an enjoyable and unique shopping experience including an open and attractive store design and other amenities that enhance the customer experience. It is estimated a new Oklahoma City store will attract 1,250,000-1,350,000 visitors annually with a trade area of 120 minutes.
Project Background
Cabela’s plans to invest approximately $10,000,000 or more for the construction and equipping of approximately 90,000 - 98,000 sf of commercial space. City staff believes a Cabela's will spur up to an additonal 500,000 sf of adjacent commercial and retail development in Oklahoma City. The new facility is anticipated to have approximately 100-120 employees and is expected to open by late 2015 or early 2016.
Economic Impact
Based on industry research, City staff projects Cabela’s will generate an estimated $40 - $50 million in annual sales, subject to Oklahoma sales taxes which will result in additional tax revenues for Oklahoma City. Therefore, based on the foregoing, Cabela’s will annually generate approximately $800,000 - $1,000,000 in City General Fund sales tax, $400,000 - $500,000 in MAPS3 sales tax, $300,000 - $375,000 in Public Safety sales tax and $50,000 - $62,500 in Zoo sales tax.
Recommended Incentive Amount: $3,500,000 It is recommended that a performance based incentive amount not to exceed $3,500,000 be provided to Cabela’s over a ten year period based on 1.2% of sales subject to sales tax based on the following:
• The current retail incentive policy promotes the development of new to market retailers and regional attractions
• Cabela’s is a regional draw with a trade area based on serving customers up to 120 minutes away or greater.
• Cabela’s will generate an estimated 1,250,000-1,350,000 visitors a year
• Cabela’s will attract shoppers from outside of the region, preventing/reducing retail sales leakages to surrounding communities
• City will receive related internet and catalog sales from local residents which will result in new sales taxes
Approval of the attached resolution authorizes the OCEDT General Manager or his designee to begin negotiations with Cabela's Wholesale Inc. for the development of an Economic Development Agreement for future consideration by OCEDT and the City Council.
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Re: Cabela's
Originally Posted by Eddie1
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