IKEA announced Thursday that it's looking to open another store location in the Valley.

According to a media release, the home furnishings retailer is submitting plans to the City of Glendale for a brand new store in the west Valley.

Plans include a 348,000-square-foot store with 1,100 parking spaces. It will be located on a 29-acre lot near the Loop 101 and Bethany Home Road.

They'll also evaluate the idea of having on-site power generation -- a feature they have at 90 percent of US store locations.

If approved, construction on the Glendale store could begin in Fall 2018. They estimate the store to open for business in Spring 2020.

IKEA estimates that construction would employ more than 500 people, while more than 300 jobs would be created with the store's opening. Business would also provide "significant" sales and property tax revenue for local governments and schools.

The Phoenix area's current and only location in Tempe opened in 2004.