By Audrey Spencer
The Cove Herald
Copperas Cove caffeine addicts soon will have a local Starbucks at which to drink their daily fix.
"I am delighted about Starbucks coming to our community," said Dan Yancey, chairman of the Copperas Cove Economic Development Corporation board, in a news release. "The location of Starbucks in Copperas Cove enhances our redevelopment goals for (U.S.) Highway 190."
The EDC started working with 10K Investments LLC in August 2010 to bring the coffee giant to the city. The redevelopment project is called Heritage Plaza, located at 2524 E. U.S. Highway 190, where a Shamrock gas station once stood.
Nationwide, there are more than 11,000 Starbucks locations, including two in Killeen and three in Harker Heights.
Scheduled to open by the end of the year, Starbucks, in its first 10 years in business, will provide an estimated 48 direct and indirect jobs, generate around $13 million in taxable sales and bring in about $889,000 in revenue, including $400,000 to the city, more than $269,000 to the school district, and more than $130,000 to Coryell County, said Monica Hull, director of business development at the EDC.
"Every project has an economic impact report," said Hull. "The analysis allows us to see what the economic impact will be over a 10-year period. It takes into account what Heritage Plaza will give and take from the community."
Major businesses require a certain standard for the communities they enter.
"It's really based on the market," said Hull. "It's based on cars, rooftops and money, and the numbers in Cove were right for Starbucks."
Cars, rooftops and money refer to the number of vehicles that pass by on a given day, the number of homes and the level of income in a city. The location of the Starbucks sees almost 55,000 vehicles per day, according to a news release.
The gas station was demolished this summer. Two buildings were constructed - one for Starbucks and a 1,500-square-foot structure that is available for another business. An ATM was installed on the property Tuesday and will be operational within a couple of weeks, said Hull.
Starbucks shouldn't have a negative impact on local business, Hull said.
"Starbucks is destination-retail," said Hull. "You go to Starbucks to get Starbucks coffee."
Contact Audrey Spencer at
email@example.com or (254) 501-7476.