Does the city's analysis assume all Bass Pro tax receipts are incremental with no cannibalization of existing retailers? If so the deal is way worse than it sounds. If I was REI, Academy, Walmart, etc I'd be ticked that the city was spending tax dollars to subsidize a competitor. I don't know what percentage of future Bass Pro sales would have occurred at another retailer but in my opinion there's no way it is anywhere close to zero.
Bass Pro Shops coming to CS
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Last: 7 days ago by wareagle044
There will be some cannibalization, but BP is a regional draw similar to Costco. Last time I checked, over 50% of Costco's visits originated outside of Brazos county. I would expect similar numbers for Bass Pro. May be a slightly higher proportion of local visitors because I expect it to be popular with locals as well.VAXMaster said:
Does the city's analysis assume all Bass Pro tax receipts are incremental with no cannibalization of existing retailers? If so the deal is way worse than it sounds. If I was REI, Academy, Walmart, etc I'd be ticked that the city was spending tax dollars to subsidize a competitor. I don't know what percentage of future Bass Pro sales would have occurred at another retailer but in my opinion there's no way it is anywhere close to zero.
But don't you think that of the 50% of Costco visits coming from outside Brazos county, a significant piece of that business was previously going to Sam's Club down the street? I'm glad we have Costco but am skeptical that it brought significant new tax revenue versus moving sales from one retailer to another, which is certainly the case for me personally.
VAXMaster said:
But don't you think that of the 50% of Costco visits coming from outside Brazos county, a significant piece of that business was previously going to Sam's Club down the street? I'm glad we have Costco but am skeptical that it brought significant new tax revenue versus moving sales from one retailer to another, which is certainly the case for me personally.
It's far better to have both a Sam's and a Costco than to just have a Sam's. Trust me on this.
The left cannot kill the Spirit of Charlie Kirk.
VAXMaster said:
Does the city's analysis assume all Bass Pro tax receipts are incremental with no cannibalization of existing retailers? If so the deal is way worse than it sounds. If I was REI, Academy, Walmart, etc I'd be ticked that the city was spending tax dollars to subsidize a competitor. I don't know what percentage of future Bass Pro sales would have occurred at another retailer but in my opinion there's no way it is anywhere close to zero.
Oh no, we can't have our huge corporations cannibalized by another huge corporation.
What? The topic is whether the city is properly calculating the payback on tax payer funded incentives. If they think 100% of tax receipts from a new business will be incremental revenue, that would be wrong.
A secondary topic is whether tax payers should be subsidizing one business at the expense of another.
A secondary topic is whether tax payers should be subsidizing one business at the expense of another.
According to Aggie_Fire, "you make your citizens happy and that is a win." Economic analysis be damned if some citizens are happy. ReelAg (username checks out) says we need Bass Pro to attract restaurants, as if there aren't a ton of restaurants right across the highway already. Another poster says we need Bass Pro Shops for any chance at getting a Waffle House. I can't tell if these posts are real or satire.
b0ridi said:
According to Aggie_Fire, "you make your citizens happy and that is a win." Economic analysis be damned if some citizens are happy. ReelAg (username checks out) says we need Bass Pro to attract restaurants, as if there aren't a ton of restaurants right across the highway already. Another poster says we need Bass Pro Shops for any chance at getting a Waffle House. I can't tell if these posts are real or satire.
Attitudes like this is why Bryan passed on Post Oak Mall in the 80s.
The left cannot kill the Spirit of Charlie Kirk.
VAXMaster said:
But don't you think that of the 50% of Costco visits coming from outside Brazos county, a significant piece of that business was previously going to Sam's Club down the street? I'm glad we have Costco but am skeptical that it brought significant new tax revenue versus moving sales from one retailer to another, which is certainly the case for me personally.
Possibly. Cannibalization is probably one of the hardest things to model in retail, since new stores can draw shoppers from outside the area or encourage more impulse buys that otherwise would not have occurred. Food and beverage is easier to model.
A lot of people love and are loyal to Costco. The mom from the Woodlands, shopping for her kid in school, probably isn't getting a Sam's membership. She's probably going to shop at her local Costco and then bring it with her. HEB/Kroger/Walmart may see some cannibalization, but it is really hard to tell how much.
I can tell you that I've pulled the data I have access to, and it doesn't appear to have negatively impacted any grocer in the market.
Im still going to Walmart or Academy for some of my purchases because their prices are more competitive. Im buying from Bass Pro for specialty items that may not be at Academy or Walmart.
It works in bass pro's favor that they offer a military discount; however, that's not always enough to beat price on some generic needs I can grab from Academy, Walmart or even Amazon.
Bass Pro isn't going to have the gear for my kids sports which is what I would primarily use Walmart and academy for anyways.
Bass Pro is more fun for window shopping and atmosphere which gets me out of the house and ultimately buying gas, eating out, impulse buying.
It works in bass pro's favor that they offer a military discount; however, that's not always enough to beat price on some generic needs I can grab from Academy, Walmart or even Amazon.
Bass Pro isn't going to have the gear for my kids sports which is what I would primarily use Walmart and academy for anyways.
Bass Pro is more fun for window shopping and atmosphere which gets me out of the house and ultimately buying gas, eating out, impulse buying.
Brian Alg said:
What do y'all think a fair over/under is for the amount taxpayer funded benefits councilfolks are planning on throwing Bass Pro's way? Hopefully given the bad press Bass Pro has been getting on these agreements the last 15 years it will be less than $5 million. But with the current crop of councilfolk, I suspect they are going to give away the farm.
An empty lot doesn't generate anything. Yes, they are getting some rebates on the sales tax they generate (if they hit their goals), but there's no property tax rebates nor cash incentives. And they're buying the land from the city.
What did the city buy the land for? What are they selling the land for?
I don't think the city should be involved in buying up real estate and holding onto it, but I think in this case it made money.
I don't think the city should be involved in buying up real estate and holding onto it, but I think in this case it made money.
FlyRod said:
I'd rather have a Cabela's.
You would much rather have a Scheels.
O.G. said:FlyRod said:
I'd rather have a Cabela's.
You would much rather have a Scheels.
I'm going to the scheels in cedar park right now. I'll tell you if you're right or not!
Scheels was something. Maybe a little too much!!