The announcement is a major win for East Palo Alto, which has struggled with a meager tax base since incorporating in the 1980s. The loss of Sports Authority — which went dark following that retailer’s bankruptcy this spring — threatened to punch another hole in the city’s general fund because of the loss of sales tax revenue.
(For more on East Palo Alto economic development, click here.)
But the arrival of Target is almost certain to be a bigger boost for sales tax generation. The store will be 50,000 square feet; in keeping with the smaller-size Target concept, it will offer “a quick-trip shopping experience with a curated assortment,” according to a news release, including fresh groceries, health and beauty, apparel, home decor, consumer electronics and gifts.
Target on Monday also announced it would open a new smaller-format store at Stonestown Galleria.
I reported in November that Target would anchor Main Street Cupertino with a 21,000 square foot store.
The new East Palo Alto store will be at 1775 East Bayshore Road.