Major retail store expansions, such as IKEA's new 67,000 square foot location at Walden Galleria in Cheektowaga, New York, generate significant economic benefits including job creation (over 100 jobs), increased sales tax revenue for local governments, and enhanced foot traffic that supports existing businesses, demonstrating how large retail developments can serve as catalysts for regional economic growth.
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Will IKEA foster more development in WNY?
Added:Well, you probably heard the news, but IKEA is coming to the Walden Galleria, and tonight local leaders say the popular Swedish chain will bring much more than just furniture. 2 on your sides, Alyssa Carosella joins us in the studio with more on the boost that IKEA could bring to the local economy. Hey Alyssa.
>> Hey there Scott. Well, by early next year Western New Yorkers will not have to go the distance to find a build your own bedroom set. The Swedish retailer will be one of the newest tenants at the Walden Galleria.
>> To have something like IKEA come along to fill 67,000 square feet on that bottom level, the old Sears, that's a big win.
>> Town of Cheektowaga supervisor Brian Nowak is declaring victory for his town and its economy.
>> Walden Galleria is one of the biggest employers in terms of generating sales tax revenue. That's major not just for Cheektowaga, but for Erie County. So, having IKEA come in, it only adds to those efforts, you know, that it's going to help be a generator for for sales tax revenue.
>> IKEA, the do-it-yourself furniture store, is anticipated to create more than 100 jobs and bring more foot traffic to the Walden Galleria. Right now, Western New Yorkers have to cross the border to shop at their closest IKEA. That location, about an hour away in Ontario, Canada.
>> Businesses and the stores that are already in Walden Galleria, um it's helpful for them, too, because they've got somebody that's drawing more people in.
>> Supervisor Nowak says the new store will not only mark a new era for his town, but for IKEA, too.
>> They're switching up their model a little bit, so what we're going to see here in Cheektowaga is going to be replicated in a lot of other places.
>> He's hoping the new addition helps them all keep their doors open.
>> For Walden Galleria in particular, you know, they've been in the news recently about financing and things like that, but this is really good news, and it's a it's a vote of confidence from IKEA.
>> Shoppers, hate to break the news to you, but you will have to wait until early 2027 for the store to officially move into the Galleria. On your side, Alyssa Flowers out, Channel 2 News.
>> Thanks, Alyssa.
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