The city of Pittsburg approved a tax incentive for a new retail development featuring three major stores. The plan includes adding Ulta, Rack Room, and Five Below to the city’s shopping options, aiming to retain local shoppers and provide more variety. The agreement with a group representing the Pittsburg Town Center Shopping Complex redistributes the 1.5% local sales tax collected by three new retailers. 2/3 of it will go to the city. The other 1/3 will go to the developer to recoup construction costs, with a cap of $600,000 or 20 years of collections, whichever comes first. Officials expressed interest in the project after witnessing the success of Marshall’s, which was added to Pittsburg’s retail landscape in November 2022. “We’ve recently added Marshall’s, which has been extremely successful,” said Kim Froman, Director of Community Development and Housing. “We’ve seen a 23% increase in that shopping area since the addition of Marshall’s. So we’re really excited for that.” Froman believes that bringing in Ulta, Rack Room, and Five Below will enhance the local shopping experience and keep residents from traveling to nearby cities for their retail needs.
Source: KOAM News
