The multimillion-dollar project is intended to create hundreds of jobs and bring an economic boost to the neighborhood.
Lafayette Parish — Discussions are in on about bringing the Buc-ee’s chain store to Lafayette. The multimillion-dollar initiative is expected to create hundreds of jobs and have a significant economic impact on the area.
To make it a reality, city officials introduced a new ordinance at a recent city council meeting for a new tax district. If it becomes a reality, shoppers along Louisiana Avenue I-10 would pay an additional 1% in sales tax, raising the total to 10.45%.
“The company creates a significant number of jobs,” said Mandi Mitchell, Director of the Lafayette Economic Development Authority.
“It doesn’t just benefit that company, there are direct and indirect jobs that come from that.” The increase means shoppers would pay more for food and goods at the new store.
However, officials at the LEDA say Buc-ee’s would create an economic boost for the community. “With this project, the company is expected to create at least 150 jobs,” Mitchell said.
Currently, the district receives 1 penny in sales tax. The ordinance would create a subdistrict to collect an additional penny, with the costs passed on to travelers along I-10.
Mitchell told City Council members that the increase would only apply to Buc-ee’s. The city currently generates over $1.5 million from the tax district, but the increase would generate more.
If the ordinance is approved, Buc-ee’s would receive a 2% sales tax rebate for 20 years as part of the new incentives and $3.5 million in a grant to offset $12.5 million in planned infrastructure upgrades.
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