Cabela’s, an outdoor sporting goods company that competes with Bass Pro Shops, is seeking $3.5 million in tax rebates from Oklahoma City for a new store to be announced later this year.
The application is set to be introduced Tuesday at the Oklahoma City Economic Development Trust, with full presentations by company officials set for the trust’s June 17 meeting and to the Oklahoma City Council on July 1.
Cabela’s officials did not return calls from The Oklahoman on Friday. Brent Bryant, the city’s economic development manager, said the chain has yet to select a site for its Oklahoma City store. Bryant’s report on the application forecasts the store will generate $40 million to $50 million in annual sales.
“It’s a performance-based incentive, based on 1.2 percent of their sales,” Bryant said. “And at the end of the day, they get incentivized on their performance. If they hit a home run, they get paid sooner. It expands our sales tax base and it reduces the potential of sales tax leakage to areas outside the city.”
Cabela’s has 50 stores in the United States and is in the midst of an expansion that includes opening 11 stores this year and each year through 2017. The Nebraska retailer has reported double-digit percentage increases in sales over the past several years.
Last August, the chain opened two locations on the same day in the Denver metro, drawing an estimated 5,000 shoppers to each of the 110,000-square-foot megastores. Those locations feature archery ranges and restaurants, though it is unknown whether such attractions would be included in an Oklahoma City store.
The Oklahoma City store will be smaller — between 90,000 and 98,000 square feet — and would be part of what the chain calls its “next generation” prototypes.
And at the end of the day, they get incentivized on their performance. If they hit a home run, they get paid sooner. It expands our sales tax base and it reduces the potential of sales tax leakage to areas outside the city.”
Oklahoma City economic development manager