With election day just two months away, Mayor Jimmy Davis has announced that he is bringing a Costco to Bayonne.
Costco is paying Bayonne $2.1 million for land at the former Military Ocean Terminal, and Davis expects the big box store to generate $435,000 in annual property tax revenue and create hundreds of middle class jobs. A groundbreaking is expected within the next few weeks — before Davis faces the voters in his re-election contest with former Assemblyman Jason O’Donnell.
“Having the chance to bring a company like Costco to Bayonne that pays its employees a living wage and provides great shopping choices and amenities is a home run for our city,” said Davis. “This property has not paid one dollar in taxes for over 18 years and within a year it will provide $435,000 in new annual property taxes. This is how we fix our city finances.”
The developer working with Costco is Joseph Forgione of JMF Properties. Forgione and his companies have been active contributors to candidates from both parties and he is a former commissioner of the New Jersey Sports and Exposition Authority.