Home Depot secures incentives for new store; Costco, Lowe’s also coming to nation’s fastest-growing city
CELINA, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Home Depot Inc. is planting its flag in America’s fastest-growing city, adding to the economic momentum in a once-rural part of North Texas.
The big-box retailer will build a 105,000-square-foot location at the northwest corner of Ownsby Parkway and Preston Road, next to a planned Costco and across from a future Lowe’s.
The Celina City Council approved a Chapter 380 agreement with Home Depot on Dec. 19, providing a $1.39 million sales tax grant for 10 years. The grant will be shared between the city and the Celina Economic Development Corp., with the city expecting a return on investment in five years, according to Community Impact.
Under the agreement, Home Depot (NYSE: HD) will be required to open by July 2026 and employ at least 48 local residents by March 2027, according to a presentation from a Jan. 14 council meeting.
The city expects the new store to generate enough revenue to support infrastructure and public service needs, according to a Jan. 15 announcement. The $20 million investment comes as Celina’s population ballooned by an estimated 26.6% from July 2022 to July 2023, according to U.S Census Bureau data — more percentage growth than any other city of at least 20,000 in the country.
“This development represents more than the arrival of a major retailer — it brings new opportunities for economic growth, strengthens our local tax base, and enhances convenience for our residents,” Clint Bissett, president of Celina EDC, said in a statement.
Celina symbolizes the rapid transformation of the Dallas-Fort Worth Metroplex. New highways are connecting the city to other parts of Collin County, while high-quality schools, more affordable homes, and new amenities draw in more and more residents.
Retail always follows rooftops, and there are massive housing developments underway such as Legacy Hills, a 7,000-home project by Centurion American Development Group, and Ramble by Hillwood, which will have around 4,000 homes. Celina Mayor Ryan Tubbs told Dallas Business Journal on Jan. 7 that the city issued 2,930 single-family residential permits in 2024, a single-year record and a 17% increase from 2023.
There are currently about 15 Home Depot locations across Collin County. The region as a whole has added more than 200,000 residents since 2020, bringing the total population to 1.2 million, according to a 2024 credit analysis by Moody’s, a New York-based financial services company.
“Home Depot’s investment reflects the confidence businesses have in Celina as a vibrant, thriving city, and we look forward to the positive impact this partnership will have on our community for years to come,” Tubbs said in a statement.
