San Jose Could House the Most Costcos in U.S. Despite Local Opposition

The Fitz-Gerald Group’s Insights

Keith Fitz-Gerald, the principal of The Fitz-Gerald Group, provides his insights on
Costco, Palantir, and Lockheed Martin stocks before the market opens.

Costco’s Expansion in the Bay Area

The possibility of a sixth Costco warehouse opening in the Bay Area is getting
closer, which has stirred mixed reactions from the locals.

Details of the Proposed Location

The proposed Costco location, reported by the San José Spotlight, has been approved by the
San Jose Planning Commission. The new location will be near Prospect High School, and
will be considered by the city council for approval on October 22.

Concerns From Local Residents

Residents around the proposed location have expressed their concerns over increased
noise pollution and traffic. Marc Pawliger, co-founder of Save West Valley, criticizes
the lack of effort from both the city and Costco in improving the situation.

New Features from Costco

Costco is also introducing a new feature on their mobile app,
aiming to enhance the shopping experience for their customers.

Costco and the Local Economy

Despite the concerns, there are voices supporting the new warehouse, including Planning
Commissioner Pierluigi Oliverio. He argues that the new warehouse could potentially
bring 250 to 300 jobs to San Jose and generate $2 million in annual tax revenue.

Costco’s Challenges

Costco faces unique challenges with their new store
location due to local laws.

Costco’s Response

Costco’s
response to the proposed location, which will cost about $60 million to develop, has not been
released at this time.

Costco’s First U.S. Location with Rooftop Parking

If approved, this will be the first U.S. Costco location to offer rooftop parking,
according to Costco. The 165,000-square-foot warehouse will replace several existing
businesses and buildings to make room for the new Costco.