Ikea, the Swedish home furnishing chain, today plans to announce the opening of a new store in Centennial, according to The Denver Post.
The company’s functional and stylish furniture is popular among college students and young professionals looking to outfit their new abodes, but Ikea may win some additional fans in the metro area by attracting shoppers from all corners of the state, thus boosting sales tax revenue — a crucial component to filling Colorado cities’ coffers.
The details of the agreement between Centennial and Ikea haven’t been announced, but it’s likely the city offered the furniture behemoth some type of economic incentive to open its doors in their backyard.
In 2005, Ikea announced Draper, Utah, would be the site of its next home-furnishing store.
The city, 20 miles south of Salt Lake City, lured Ikea to the unlikely location with $2.8 million in incentives, but also expected up to $1.25 million annually in economic impact to the area, according to The Deseret News.
In 2003, Ikea announced a 10-year expansion program
that would include the construction of five new stores a year in North America, according to the Mall of America, which received one of the first new Ikea stores.