Being in high demand is always a positive thing. It’s no secret that almost every decently sized community in Texas would do whatever it takes to have an H-E-B supermarket. San Marcos is certainly no different.
The city council of San Marcos will be considering an incentive agreement with H-E-B, which is based in San Antonio. This agreement would offer over $2.2 million in rebates and tax breaks for the company to open a 100,000-square-foot store on an 18-acre plot at the intersection of I-35 and East McCarty Lane.
This project has been estimated to require a capital investment of $53 million and create 212 full-time jobs as well as 238 part-time jobs. H-E-B has owned this land since 2013.
Under this incentives agreement, H-E-B must build a grocery store with at least 100,000 square feet that will be open to the public by December 31st,2026.In return,the city will provide property and sales tax rebates starting at80%and decreasing gradually over five years until reaching25%.
This news was originally published on Connect CRE website.
