Nebraska Furniture Brings Big Boost to The Colony - NBC 5 Dallas-Fort Worth

Nebraska Furniture Brings Big Boost to The Colony

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    Nebraska Furniture Brings Big Boost in the Colony

    Before the actual mega store has even had its grand opening the Nebraska Furniture Mart along Highway 121 is already helping bring big business to the Colony. (Published Friday, March 27, 2015)

    The doors at The Colony's new 560,000 square foot retail giant still aren't open to the general public, but the city is already seeing big gains thanks in part to Nebraska Furniture Mart.

    The city of The Colony reports a big economic boom throughout town, but especially in the 121 Tollway corridor where the new mega store sits.

    City Communications Director Diane Baxter said since the store's leaders announced their intentions to build back in late 2011, the city has issued 290 new permanent certificates of occupancy; many of which belong to new constructions.

    They've also issued 395 new home permits and report growth impacts in neighboring Little Elm and Frisco, as well.

    However, the most telling sign has been the city's sales tax revenue which has more than doubled during that time from about $7.5 million in 2011 to $15.5 million now, however, Baxter adds that the city will not keep all of that due to various incentives tied to the new development.

    More additions are expected as well as the developer of the Nebraska Furniture Mart project also completes the Grand Scape mixed-use development on the 400+ acres surrounding the mega store.

    Business owners in the area say they're already seeing the boost, as well.

    Tim McClure and the team at the Drunken Donkey opened a new location, their second, just across the highway from Nebraska Furniture back in November 2014 and said sales are already growing well, especially as more businesses show up.

    "With the different companies going in, we kind of saw it moving and that's one of the reasons we picked this location," McClure said.

    As for the actual mega store, a representative for Nebraska Furniture Mart said Friday that they are still in their "soft opening" phase in which select shoppers are being allowed in early to help them make final preparations.

    They hope to announce the grand opening soon.

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