Costco probably not coming to Port St. Lucie for at least 10 years, consultant says

PORT ST. LUCIE — Costco Wholesale probably won’t set up shop here for several years because of a lack of families earning $125,000 annually, a retail consultant told the City Council on Monday. “If the market continues on this current trajectory, I think you could reasonably say Costco could be here maybe 10 years down the road,” said Clay Craft, of Retail Strategies consulting of Birmingham, Alabama. Attracting a Costco was the top request by city residents responding to a survey asking what businesses they would like to see developed in Port St. Lucie. But Costco wants to establish stores in regions with a relatively high percentage of households in that $125,000 range, said Scott vonCannon, also of Retail Strategies. “We need to recruit rich people,” Mayor Greg Oravec said jokingly. There are 3,457 households with an income greater than $125,000 per year within a five-mile radius of Tradition, a consultant’s report shows. Meanwhile, there are 6,804 such households within five miles of Costco’s initial Martin County choice in Palm City.

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