Target has more than 11,300 employees in the Brooklyn area, and so has new plans to expand its work space.
This past Friday, the retailer confirmed that it is currently “reviewing and updating” its plans for the Brooklyn Park campus. The campus is currently built on 136 acres. Later this month, the Brooklyn Park City Council will discuss their contract with the $66 billion company, with an option of extending the agreement to enable additional state stimulus funds. The new offices would be more than 245.000 square feet.
Jason Aarsvold, Brooklyn Park’s economic and redevelopment center said “Obviously our objective is to add jobs to our city, and Target has indicated that it needs more space.”
The city leaders will be considering a change in the tax-increment financing that will be used to boost the retailer’s expansion. The contract’s economic aid clause may grant Target a subsidy of $1.7- $2 million.
Target is one of the few retailers who have recorded a sales increase in the third quarter. In fact, Target has increased by 5%, the biggest quarterly rise since the recession began in 2008. Now, the company plans to enter Canada, with most of its locations opening to the public in 2013.