Woodman's to receive $7M in incentives for new store

Local officials in Buffalo Grove, Ill., have approved $7 million in incentives connected to a massive planned Woodman's Market store set to open there in 2018, reports said.

Woodman's, based in Janesville, Wis., earlier this month detailed plans to build a 240,000-square-foot superstore in Buffalo Grove as part of a 25-acre commercial development there. The project would also include a fuel center, convenience store and car wash to be developed by the retailer, Buffalo Grove officials said.

“We are very excited to introduce Woodman’s and their development team to our village and look forward to having them join the Buffalo Grove community. Woodman's will be an outstanding addition to our retail offerings,” village president Beverly Sussman said in a release.

“Woodman’s is excited about the opportunity to serve the Buffalo Grove market,” Phil Woodman, president of Woodman’s, said. “We feel the village’s assets and location are ideal.”

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The incentive program will help create road improvements to build the project, the Chicago Tribune reported. Under the plan, sales tax revenue from the store would be shared with the city until Woodman's pays back a $3 million incentive plus whatever it spends to make the road improvements.

Woodman’s operates 16 locations in Illinois and Wisconsin.

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