Bass Pro Shops is an internationally recognized brand that will draw outdoor enthusiasts from across the region and state to shop in our community.
-- Mayor Alan McGraw
Round Rock, Texas (PRWEB) August 18, 2013
The Round Rock Economic Development Partnership, a collaboration of the City of Round Rock and the Round Rock Chamber of Commerce, announced Friday, Aug. 16, that Bass Pro Shops will open one of its award-winning outdoors stores in Round Rock in 2015.
“We are thrilled to bring another destination retailer to Round Rock,” Mayor Alan McGraw said. “Bass Pro Shops is an internationally recognized brand that will draw outdoor enthusiasts from across the region and state to shop in our community. The addition of a large sales tax generator like Bass Pro Shops will further diversify our sources of revenue, which is great news for all Round Rock taxpayers.”
The Round Rock City Council will vote on a performance-based incentive agreement, tied to sales tax generation, at its Thursday, Aug. 22, meeting.
The 104,000-square-foot store will be located near Round Rock Premium Outlets and IKEA (map), two other destination retailers that received incentives from the City of Round Rock. Both agreements have since expired, with both companies meeting their obligations and the City realizing its goal of creating a major retail hub on IH 35 in north Round Rock that would draw shoppers from outside the community.
“Bass Pro Shops is an amazing addition to our retail mix,” City Manager Steve Norwood said. “It will create jobs, add to our property tax base from day one, and generate sales tax revenue that will help keep our property tax rate among the lowest in the state and help pay for major transportation improvements in Round Rock.”
The 10-year agreement, modeled after the agreement the City struck with IKEA in 2006, is worth up to $4.5 million, and includes $500,000 in reimbursements for site improvements. The economic program payments will be based solely on a portion of the sales tax revenue actually generated by Bass Pro Shops. Payments may not exceed $500,000 in any given year. No property tax abatements are included in the agreement.
“One of our target sectors is destination retail and Bass Pro Shops is one of the biggest names in destination retail,” said Ben White, Vice President, Economic Development, of the Round Rock Chamber of Commerce. “Adding Bass Pro Shops to our impressive retail community continues to make Round Rock a major hub for retail in Central Texas Rock and a true destination for visitors.”