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Costco sign at the Docklands store

THIS week construction work has commenced on the site of the new $65 million Ringwood Costco project.

After years of negotiations, the American retail giant announced in July this year that it would open its second Melbourne store.

An aisle of Costco Docklands

Mayor Cr Rob Steane supports the development as he believes it will bring more business to the area.

He also said that the construction phase will generate 160 jobs and upon opening, the store will employ another 400 people.

“Since the announcement of Costco, QIC (the owners of Eastland) have had a significant increase in inquiries from potential businesses wanting to set up in Eastland.   So it is apparent that other businesses can see the potential in Ringwood that Costco is attracting,” Cr Steane said.

“Customers travel specially to Costco.  That will draw customers to Ringwood from Frankston, Cranbourne, Eltham and elsewhere.   These are people who would typically never come to Ringwood to shop.”

Cr Steane does not believe that increased traffic will have a negative impact on the area and that there won’t be any loss of business for surrounding businesses.

“In relation to traffic, Costco again has another unique advantage – its proximity to Eastlink. Increased traffic is well able to be handled by that facility.   Additionally Costco will have nearly 1000 parking spaces on site,” Cr Steane said.

“In relation to other businesses, whilst some local residents will move from some smaller businesses to Costco, the increased customer traffic will spill over to other businesses. The people who come to Costco, will also sit down and have a coffee, have some lunch, shop at other shops.”

Costco will be competing with nearby supermarkets Woolworths and Coles in Eastland shopping centre but local resident Kate Varnam does not believe Costco will steal their customers.

“You need a membership for Costco so I don’t think smaller shops would lose business… I wouldn’t buy vegetables or meat from Costco,” said Ms Varnam.

Janet Debeleak is an employee at Costco Docklands and believes a new Costco will be good for the economy.

“People come in from everywhere so sometimes it helps to have a Costco on the other side. It’s good for the Government, other businesses, people looking for jobs, for everyone.”

Costco Docklands employee Janet with Darcie

The Ringwood Costco is being built on the corner of Market St and Bond St and is expected to open by the end of August 2013.

Construction work on the corner of Market St and Bond St

Construction work

For more information, read these stories:

Maroondah Leader ‘Work starts at Ringwood Costco site’

Maroondah Leader ‘Costco to open in Ringwood’

By Darcie Quinn

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