A real estate committee for Lowe’s has decided to hold off building a new store at 24th Avenue and Industrial Road for as much as a year to see what the economy does.
The decision to delay construction comes on the heels of a sharp drop in revenues for the Lowe’s corporation. The Wall Street Journal reported a 60 percent decrease in revenues for Lowe’s in the fourth quarter last year, with sales expected to continue falling this year.
“The project is still on,” city manager Matt Zimmerman said. “They’re simply delaying it due to the economic conditions.”
Zimmerman said Lowe’s has scrapped plans for Lowe’s stores in other cities in Kansas.
“To me, that’s a very positive sign that they’re still committed to doing this project when the economy turns around,” Zimmerman said.
According to Regional Development Association president Kent Heermann, the company plans to start construction early in the first quarter of 2010, and will open in the fourth quarter.
“We’re still in the hunt,” Heermann said. “We feel pretty good about it. It’s just tough times.”
“It’s unfortunate,” Zimmerman said. “I think we just have to weather the storm.”
Representatives for developer DJ Christie could not be reached for comment.
josiesbar (anonymous) says...
“The project is still on,” city manager Matt Zimmerman said. “They’re simply delaying it due to the economic conditions.”
Right, just like the bio-diesel plant...
March 13, 2009 at 4:29 p.m. ( permalink | suggest removal )
eatasheep69 (anonymous) says...
GOOD! At least something positive has come from the recession!
March 13, 2009 at 8:09 p.m. ( permalink | suggest removal )
MisterO (anonymous) says...
It's nice that Mr. Zimmerman is trying to keep a positive attitude and be optimistic, but I sure hope they don't base too many of their economic decisions on the expected sales tax income from this project.
March 13, 2009 at 8:19 p.m. ( permalink | suggest removal )
Paccifier (anonymous) says...
What income- most special and city sales tax receipts raised on the property were to go back in to pay for the development bonds- you know, the TIF/TDD- It was all there to read.
March 13, 2009 at 9:08 p.m. ( permalink | suggest removal )
b3bill (anonymous) says...
Alright, so Lowe's isn't showing up here anytime soon. We have to accept that, it's Lowe's decision, and keep in mind they could cut Emporia out of their plans later on.
What is the current status of Emporia's search for other businesses to come here? Not necessarily in place of Lowe's, but in all kinds of other business sectors and with any employment level.
I hope the people of Emporia will encourage and remind Mr. Zimmerman and the entire City Commission that continuous, diligent searching for potential businesses to come to Emporia is expected, with or without Lowe's. It would be awesome if some of the outlying towns such as Lebo, Olpe, etc. could get some new businesses to locate there too.
Maybe The Gazette will consider an in-depth front page article to run soon on the status of this area's search for businesses to locate here. It may be obvious to almost everyone, but in case it isn't, what the Emporia area needs is a lot of decent paying jobs.
March 13, 2009 at 10:19 p.m. ( permalink | suggest removal )
booker5m (anonymous) says...
Jobs we dont need jobs we need retail just ask the CIty manager and the Commish
March 13, 2009 at 11:12 p.m. ( permalink | suggest removal )
Tell (anonymous) says...
What really does Heermann do? He's been here for years what is he getting acomplished? How many new industries or jobs have we gained since having him as the R.D.A. president? Maybe we need some new insite . Don't sit around telling us how tough it is lets see some results he has been here at least fourteen years.Is payday still on friday?.......
March 14, 2009 at 7:32 a.m. ( permalink | suggest removal )
neighbor (anonymous) says...
Is anyone surprised by this announcement?
March 14, 2009 at 5:12 p.m. ( permalink | suggest removal )
barefootin (anonymous) says...
Not me. Maybe that spot of land Zimmy calls blighted will be left alone, after all, it looks better that a traffic jammed shopping area. We need good paying industrial jobs here, can we get some of those instead of a Lowe's ?
March 14, 2009 at 9:34 p.m. ( permalink | suggest removal )
admireed (anonymous) says...
Let's dump trash there so it will be blighted
March 14, 2009 at 9:41 p.m. ( permalink | suggest removal )
momus (anonymous) says...
Instead of throwing money in an attempt to get businesses to relocate in Emporia, can we focus a little more attention on expanding our existing businesses, or encouraging our own citizens to open up businesses that help fill market gaps? Instead of hoping for some huge outside entity to come in and save the town, isn't it more realistic and cost effective to save ourselves? We don't have an optimum population or median income to suit many chains in Emporia. Why not focus more time and energy on a grow from within strategy? We're not going to get a Target or an Olive Garden in the foreseeable future, but an existing business person may be able to tweak their business, or an entrepreneur may create something new that is even better than a chain. And, if a business has local investors and takes off, lord knows the return would be better than the investments in the current stock market ;).
March 15, 2009 at 11:24 a.m. ( permalink | suggest removal )
NiBlock (anonymous) says...
Sorry !
Tell me about it..
Contact information provided by:
www.lowesceo.com
March 15, 2009 at 7:03 p.m. ( permalink | suggest removal )
create (anonymous) says...
Yesterday afternoon, when I went to Water's Hardware for some onion sets, the parking lot was completely full, and the store was brimming with shoppers. What a beautiful sight! Long live Waters Hardware, where they know the location of all their stuff, have suggestions for your repair dilemmas, and are not short on patience. Thank you, Mark!
March 16, 2009 at 8:30 a.m. ( permalink | suggest removal )