Last October we noted that retailing giant Costco was gearing up to move into Canberra.
Today Chief Minister Stanhope is celebrating this vindication of his economic leadership.
“This is good news for Canberra, good news for shoppers and a good sign of the confidence that a major international company such as Costco has in the strength of our economy,” Mr Stanhope said.
“Costco will be a welcome addition to the retail and supermarket choices for the Canberra consumer and provide further competition to the supermarket sector, both as a retail supplier as well as a wholesale provider.”
“This will be only the third Costco site in Australia, following on from Melbourne and Sydney. To have the fourth biggest retailer in the US and one of the top 10 worldwide choose the ACT as one its first sites in Australia shows just how strong our economy is, and how much faith Costco has in its continued good health.”
The retail giant has announced plans to open up an outlet at the Brand Depot site. The size of the store is expected to be about 13,500sq, more than four times the size of an average supermarket of around 3,000sqm.
Patrick Noone, Costco Country Manager of Australia said the company was looking forward to opening up in the national capital.
“We are delighted with the investment in Canberra and we are looking forward to being a supplier to businesses and part of the competitive retail market.”
Mr Stanhope said the Costco store would help the Government achieve the aims of its Supermarket Competition Policy, by increasing the competition and diversity in the full line retail supermarket sector in the ACT.