Stockton's new partnership with Home Depot could net city nearly $1 million annually
STOCKTON – The City of Stockton is entering a new 20-year partnership with Home Depot, which could net the city nearly $1 million annually.
The Port of Stockton is known for its constant hustle and bustle and it's about to get much busier.
"We've been down for so long, the only direction we have is up," Stockon Mayor Christina Fugazi said.
To help Stockton keep going in that upward direction is a new 20-year partnership with Home Depot and a new distribution center at the port.
"This is the first time that I have seen something of this nature in the City of Stockton," Fugazi said.
"What this does is businesses that might want to relocate to Stockton, might want to build in Stockton can get an incentive," Fugazi said. "It's an incentivized point of sale with Home Depot."
This partnership stems from the office and industrial sales tax incentive program that was passed in 2014.
On top of luring in more business with cheaper overheads and materials, it will also create hundreds of jobs.
"Our city will thrive and more jobs we can bring in is a trickle-down economics of that as more money gets put back into the local economy so everybody wins," said Frank Ferral, the chief policy officer for the Greater Stockton Chamber of Commerce.
And with the new center at the port, it comes with its own set of benefits.
"So there isn't like the measure, a tax on it," Fugazi said. "There isn't the Measure M, Measure W, you know, all those special taxes aren't on it. So they're already saving money."
This partnership has the ability to generate $500,000 to $1 million annually for the city, which will all go into the general fund.
When there are unspent funds, Fugazi said it can be distributed elsewhere.
"We can reallocate it, let's say, to rec programs," Fugazi said. "One of the things I want to do is have free swim days during the summer if it's 100 degrees or more."
So not only will this create benefits for Home Depot but the goal is to help the entire city of Stockton keep moving up.
"We're very happy and we can't wait for 2026 to come around," Ferral said.
"It's a win for the public, it's a win for the city, it's a win for the businesses," Fugazi said. "It's a win for Home Depot. It's like, we're winners, winner, winner, chicken dinner."
The new distribution center at the port is already under construction and will be fully operational as early as October 2026.
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