Costco plans first store in Rhode Island, slated for 2028
What happened
Costco is planning to open its first store in Rhode Island in 2028, according to Helena Foulkes, a member of Costco’s board. The new location will be in Smithfield, built on a vacant property that was formerly Smithfield Peat Co. Rhode Island is noted as the last New England state to receive a Costco location.
From bostonglobe.com
Why it matters
The retailer’s entry into the Rhode Island market increases competitive pressure in the large-scale retail and grocery sectors. This move follows years of unsuccessful attempts by Costco to establish a presence in the state.
From bostonglobe.com
Who's involved
- CostcoThe American multinational chain planning to enter the Rhode Island market.
- Rhode IslandThe state of the United States of America receiving the new retail location.
- Gina RaimondoA member of Costco’s board who confirmed the store plans.
- city councilThe legislative body in Smithfield involved in the project approval.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Rhode IslandSpeculative
Rhode Island might see increased local tax revenue and job creation from the new store.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- New Costco store in Rhode Island may increase competition for ConnecticutNew Costco store in Rhode Island may increase competition for ConnecticutPossible
- New Costco store may require city council approval in SmithfieldCity council must consider zoning and tax incentives for new Costco storePossible
- Costco's Rhode Island entry may require General Assembly approvalThe General Assembly may be required to grant special permission for Costco's liquor license.Possible
- New Costco store could increase competitive pressure on TargetNew Costco store in Rhode Island may increase competitive pressure on Target.Possible
- New Costco store may increase competitive pressure on Walmart in Rhode IslandNew Costco store may increase competitive pressure on Walmart in Rhode IslandPossible
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The entities involved
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Rhode Island
state of the United States of America
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Costco
American multinational chain of membership-only stores