A Costco warehouse store is scheduled to open in Bayonne at the former Military Ocean Terminal later this year.
Bayonne Mayor Jimmy Davis said the City of Bayonne sold a parcel of land to Costco for $2.1 million, and the store is expected to generate $435,000 in annual property tax revenue and create “hundreds” of jobs. Davis said the sale agreement shows a commitment to using the former Military Ocean Terminal property to stabilize property taxes and create jobs.
Bayonne officials expect that ground will be broken on the site within the next few weeks.
Davis and his team have spoken with Costco representatives to secure an agreement to host a job fair for Bayonne residents with a goal of ensuring that the store employs local workers.