News that US supermarket giant, Costco, is planning to open a second New Zealand store in South Auckland is great news for Kiwi shoppers, says Economic Growth Minister, Nicola Willis.
“Today’s announcement follows the introduction to Parliament last week of legislation creating a consenting express lane so that new supermarkets can be approved and built more quickly,” said the Minister.
She said the Government was working with Costco to ensure consents are achieved as quickly and efficiently as possible.
Property company, Kiwi Property, announced this morning that it has reached conditional agreement to sell Costco 6.4 hectares of land next to its 53ha residential, commercial and retail development at Drury.
The Kiwi Property development, which received Fast-track approval last week, is projected to inject over $1.45 billion into the Auckland’s economy over the next 11 years and deliver about 3420 full-time jobs in construction and related services.
“Costco’s planned expansion will add to that boost by creating more construction jobs,” Ms Willis says.
“It is also fantastic news for shoppers. More competition means more choice and lower prices.
“Costco’s West Auckland store has already improved competitive dynamics in that local area and created a new export pathway for several New Zealand food suppliers.
“Costco Westgate has 250,000 members who value the choice it offers. The store employs hundreds of staff.
“The establishment of another store in South Auckland will give more Aucklanders – as well as people in Waikato access to the same choice.
“Today’s announcement is a vote of confidence in New Zealand and, hopefully, the first of several such announcements from Costco.”
