GEDCO assisting in Sasquatch’s Trading Post’s expansion

Gladewater’s Sasquatch is getting even bigger.
With a bit of help from Gladewater Economic Development Corporation, local salvage grocer and auctioneer Martin Pessink aims to add an additional 1800 square-foot building at The Sasquatch’s Trading Post at 701 W. Upshur Ave.
Gladewater City Council members signed off on GEDCO’s ‘Project Big Man Expand’ following a brief closed session discussion during their end-of-year session Dec. 21. Bottom line, the business will receive a $25,000 incentive from the local EDC upon successful completion of some key milestones tied to the project.
Pessink was the first recipient of GEDCO’s Grow Gladewater Grant earlier this year, putting the economic development corporation’s public revenues to use to enhance his property and, consequently, enhance the local economy. The latest project goes beyond the grant program’s parameters, however, which prompted Gladewater EDC to develop a standard project with the operation.
“The Sasquatch Trading Post is in need of expanding their facility to accommodate shipments they are currently have to turn away,” said Michelle Palmer, executive director at the EDC. “This expansion will enable them to serve the public at a greater capacity.
“They are planning to build a 60×30 metal building to house an industrial freezer. They’ll also have a new repackaging area that will free up space in their current building, and it will provide much-needed storage.”
To receive the project incentive, the business’ covenants include spending $200,000 on property improvements as well as $60,000 on FFE (furniture, fixtures and equipment), all by Dec. 31, 2024 along with securing a Certificate of Occupancy on the new building by the same date.
Once the Trading Post receives the $25,000 boon, long-term expectations include maintaining retail operations for the next five years while maintaining a minimum of six part-time employees, “which they expect to far exceed in the upcoming couple of years,” Palmer said.
Overall, she noted, the value of the incentive was calculated based on the project’s anticipated benefit to the community in increased property taxes and sales tax: “The net benefit warranted this particular amount.”