RUSTON, La. (KTVE/KARD) – The Lincoln Parish School Board and the Lincoln Parish Police Jury has approved resolution to move forward with the development of Buc-ee’s in Ruston
The major investment got a green light by both entities to bring the company’s first location in Louisiana.
“We want to make a statement here as the first Buc-ee’s in Louisiana,” said the Director of Real Estate with Buc-ee’s, Stan Beard. “And we could not have found a better partner than the city of Ruston, and the school district and the police jury.”
The expected revenue is estimated to be between $40 and $50 million.
Buc-ee’s officials project annual taxable sales of $50 million, not including gas.
“That money will all be taxed, and that would go to the school system. That will go, you know, really improving the parish. It’s going to be a phenomenal thing,” said economic development city council Mike Busada.
Busada says Buc-ee’s will pay 100 percent of the property taxes– but they will get some relief on the sale taxes for the next 20 years.
“They have what we call the Payment Lieu of Tax. And the state law, basically, considers it the same exact thing as a tax . It is collected the same way as a tax. So, that is what the Payment of Lieu is. So, that is the mechanism that is in place to allow them not to pay the property taxes for the school system, but to pay the property taxes for all the parish.”
Construction is expected to begin later this year and be completed by 2025.