Posts Tagged costco idaho falls
Like anything in life, sometimes you just have to wait for the things you want the most. The same can be said for potential projects in the Idaho Falls area. The one thing these projects have in common are their potential economic boon for the area. Let’s take a look at what they are and the latest news on these developments.
1. Areva. This $3 billion dollar project is still on hold. Recently the company signed a huge contract to supply enriched uranium. Areva first reported that they were hopeful to begin construction this year, however no news toward a potential ground breaking has been given.
Potential impacts for the named Eagle Rock Enrichment plant are up to 1000 temporary construction jobs over a 3 year period and 300 permanent jobs upon completion. The design of the plant also allows for doubling the plants capacity.
2. The Idaho Falls Events Center. Expected to cost $35 million, the event center is to be built on a 20 acre parcel in the Snake River Landing development. Centennial Management Group was recently selected as the management group. Hopefully news is not too far off about ground being broken.
3. Scientec. As recently revealed by the Post Register, Scientec, a company based in Idaho Falls is looking to open a new $9 million dollar facility and Idaho Falls is on its short list. Idaho Falls City Council voted to enact the “Costco Ordinance” to further entice the company’s decision. Up to 140 new high paying jobs are expected with this new facility.
4. Costco. Speaking of, there is not much to speak of. Costco is particularly good about keeping its future plans under wraps. Potential impacts from a new Costco include other retailers wanting to set up shop nearby. Many believe that the next big wave of retail development is on hold until the ultimate decision is made.
According to this story from Channel 8 news,
http://www.localnews8.com/news/Rosy-outlook-for-jobs-in-east-Idaho/-/308662/16956362/-/50mhnuz/-/index.html there seems to be a lot of interest in Idaho Falls and Bonneville County for companies seeking to expand.
According to the Department of Labor upwards of 800 new jobs are close to being announced. No other details were given as to what type of jobs or what companies however we can speculate as to what companies they might be.
Is Areva ready to make an announcement? Upwards of 300 jobs will come to the area if and when Areva is open for business. That doesn’t include the hundreds of construction either.
Is Costco close to a decision? There was plenty of excitement early this year and many thought (including myself) that an announcement was days away.
It looks as if Idaho Falls could be on the cusp of another growth spurt with the September unemployment rate at 5.9% and more job growth on the horizon.
Snake River Landing is ready to expand again. After a few rough years for our local economy, we have begun to see some progress as far as new construction goes and Snake River Landing is no exception.
After tinkering around their website I came across plans for a new office building on Pier View Drive. While they are only in the pre leasing stage, I wouldn’t be surprised to see this 14,700 sq. ft. office building constructed this year.
available space within the development is starting to fill up and with that options become limited.
On a side note, the event center is expected to break ground in 2013 with hopes to open in 2014. It seems that even though it has not been announced yet, look for Idaho Falls’ newest minor league sports team (ice hockey) to begin play that year.
On another side note, still absolutely no news has been leaked about Costco as of yet.
The news that Costco is planning on building in the Idaho Falls/ Ammon area may certainly be the biggest economic news since Areva announced plans to build their uranium enrichment plant near Idaho Falls.
I don’t usually share site information, in fact I never have but this seems extremely interesting and tells a story. Since the inception of this blog the biggest day for site views was 39. On Wednesday when the new broke in the Post Register, total day site views exploded to a total of 134.
There are rumors swirling that many other development plans from numerous developers have been put on hold until Costco makes its plans final. There are college students at BYU Idaho who are foaming at the mouth (so to speak) for some news, and those who are unemployed and looking are probably waiting for this as well.
Idaho Falls is already the regional center for shopping, adding Costco to the mix will only further expand the regional draw, possibly drawing from other centers such as Missoula, Logan, Billings and more.
So what is the next business that everyone would like to see? I know some would really like a Red Lobster, Cabelas would be a natural fit, and specialty retailers such as Hobby Lobby and Burlington Coat Factory could easily expand into the Idaho Falls market as well.
The biggest problem which is a good one to have is where to build. The 17th and Hitt Road area is a no brainer, as well as any portion of 17th Street. There is also Snake River Landing, Sunnyside Crossroads, Taylor Crossing/ Wal-Mart area, Broadway, and perhaps even downtown.
As of now, I will research any rumors and hear say, soon enough there will be something to report.
Local Idaho Falls real estate developer Ball Ventures is going to be the victor no matter what the outcome of the Idaho Falls vs. Ammon Costco battle.
Some may know and some may not, however Ball Ventures who owns some of the most desirable properties and who helped bring in such developments as Candlewood Suites, Hilton Garden Inn, Costco in Pocatello, Snake River Landing, Ammon Marketplace and more, will certainly be the victor in this battle.
You can check out their website and portfolio of projects at ballventures.com.
One of the long awaited questions is answered. Costco is coming. The only questions remaining are where and when. This will spur more development than I think anyone is anticipating and a win win for either side. Stay tuned.
There seems to have been a real lack of good solid development news for Idaho Falls for the first quarter of 2012. Maybe there is a calm before the storm, maybe we are stuck in the recessionary rut, whatever it is, it does not seem to be affecting our neighbor to the south. (Pocatello)
There are a few projects wrapping up while a few are waiting for the calender to turn. Here’s to a quick update on going ons around the area.
Idahoan Foods: Under construction
Marriott Residence Inn: Under construction
Carl’s Jr on Northgate Mile: Under construction
Areva: On hold indefinitely
Pancheri Overpass: Construction to begin this summer
Memorial Drive: Reconstruction to begin after July 4th
Idaho Falls Events Center: Groundbreaking possible this year, probably not until 2013 though
Maverick on Lewisville Highway/ Iona Road: Still showing as coming soon on the company’s website
INL Research and Education Facility: Construction set to get underway this spring
INL Energy Systems Lab: Under Construction
School Districts 91/93: 4 elementary schools to be built with construction beginning this year
As the calender turns on the first quarter we now head toward the busy construction season. Hopefully there will be a few big projects on the docket for the city council. There is still the mystery that surrounds Costco, the unknown plans for the land around the events center, will Sunnyside Crossroads and Taylor Crossing continue with their building? Will the new ordinance passed by the city council to attract new business show immediate results? As with anything, time will tell. However with the improvements made over the last decade I would have to say Idaho Falls is in a great position going forward.