Costco cancels plan to open store in Branford

BRANFORD — Costco announced the initial plan of opening up a new store in Branford, has been canceled.

Branford’s First Selectman, James Cosgrove, said he’s disappointed by news as the development would have helped take a burden off the town during fiscally challenging times in the state.

The new Costco was expected to generate about $800,000 in real estate and personal property taxes along with more than 200 jobs.

Cosgrove said he had received a letter from the company stating it was a “business decision” to not move forward with the town.

The store would have been off I-95 in Branford.