Menards: Expansion on Hold Due to Fiscal Cliff
INDEPENDENCE, Mo. — It doesn’t look like residents will be saving big money at Menards in the near future.
Despite having completed the rezoning process ,the company announced the project is now on hold – and company officials are blaming the looming so-called “fiscal cliff.”
Back in October, the zoning commission approved the rezoning of 53 acres near Interstate 70 and Little Blue Parkway to commercial development from residential agriculture and office residential.
The expansion plan was up for final approval on December 3 – however, the Independence City Council voted unanimously to postpone the case indefinitely.
The City of Independence wouldn’t comment on the decision but rather further any questions to Menards.
“The concern we have is that economic conditions will worsen,” said Menards spokesperson Jeff Abbott in an e-mail statement on Tuesday afternoon. “If they do, investing in new stores is fool hardy.”
Construction was set to begin in the spring, with the store opening in 2014. The company says that the decision could be reconsidered if the economy improves.
“Hopefully we are wrong,” said Abbott in the statement. “If and when economic conditions improve, and if we survive the fiscal cliff and all that, we will be able to reconsider.”