The Hooksett Town Council always knew it would only be a matter of time before the hightraffic Exit 11 parcel off Interstate 93 was developed, but now, it seems they may be waiting longer than they anticipated.

An oft-discussed Cabela’s sporting goods store, which has been tentatively slated for the site for over a year, is now an unlikely possibility, developers say. And in light of this setback, the Town Council is considering directing its Economic Development Advisory Committee to explore other options for developing the land.

Committee Chairman Bill Sirak told the Town Council a major retailer, which town officials later revealed as Bass Pro Shops, has expressed casual interest in the site. The committee recently met with representatives of the company, but no decisions have been made, he said.

“They came to us and we had a very nice conversation with them,” Sirak said. “We would be very amenable to looking at what they have in mind. I told Bass (Pro Shops) representatives that they could give Hooksett a great Christmas present.”

The news comes on the heels of the realization that Cabela’s will not likely open a store on the Exit 11 site, owned by Tom Palazzi, in the near future. The outdoor retailer never officially announced a store opening for the site and earlier this year backed out of plans to purchase the property.

Town Council Vice Chairman Paul Loiselle said the current state of the economy and the declining profit margins of the Nebraska-based sporting goods retailer have essentially shut down talks to bring the shopping center – which was originally slated to open early next year – to Hooksett.

“I think it’s basically a waitand- see kind of thing because of the economy and the way things are right now,” Loiselle said. A press release on the company’s Web site indicated 10 percent of the workforce at its Nebraska headquarters was cut in early October. Its current stock price as of closing on Thursday, Nov. 20, was $4.38 per share. Loiselle said he understood that the company is closely monitoring the performance of its Scarborough, Maine, store, which opened in May, before moving ahead with plans to develop in Hooksett.

Cabela’s spokeman John Castillo said the company’s decision to back out of plans to develop the Hooksett site were purely dictate by the economy.

“We have revised our store expansion plan this past year,” Castillo said. “Last year we opened eight stores. This year we’ve only opened two. Next year, we have plans to open two more. The rate of expansion has been reduced and this is in large part due to the general economic conditions that exist today as well as the challenging retail environment. It’s a tough market out there for everyone.”

Castillo said Cabela’s is slated to open new shops in East Rutherford, N.J., and Billings, Mt., next year. Projections estimated the company’s first New Hampshire store would have generated $11 million in revenue to the town over a 20-year period.

If Bass Pro Shops decides to develop the site, the retailer would draw a similar clientele as Cabela’s. Both companies are major nationwide purveyors of outdoors goods, specializing in hunting, fishing and boating equipment.

Sirak said the Economic Development Committee recently sent Bass Pro Shops representatives a letter, after the initial meeting, explaining the town’s willingness and desire to develop the parcel. An $18 million tax incremental financing district, which expires next spring, would provide the company an easy path to purchase the land.

“If we can get this site ready, as an economic zone, then when a retailer expresses interest, we’re ready,” Sirak said.

In the meantime, the council was expected to vote at its Nov. 26 meeting on whether it should hand the reigns over to Economic Development Committee to test the waters for other potential retailers.

“The intent here is the Economic Development Committee would do the homework and bring it back to the council, Loiselle said.

Town councilors agreed it would only be a matter of time before Exit 11 is developed. “I hold the personal opinion that it’s the most valuable piece of property on Interstate 93 right now,” said Town Councilor David Ross.