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Related: About this forumWalmart’s Projected Expansion in Area Neighborhoods Would Result in Net Job Loss and Reduced Wages
New Puget Sound Sage Study: Walmarts Projected Expansion in Area Neighborhoods Would Result in Net Job Loss and Reduced Wages
A report released last Thursday (04/05/2012) by Puget Sound Sage concludes each new Walmart store opening in a Puget Sound neighborhood will result in a net loss of $13 million of net economic output and $14 million in lost wages over the 20 year life of the store.
The report, by economic impact expert Dr. Chris Fowler, is one of the first in the nation to use detailed economic analysis to determine the impact of a new Walmart neighborhood market and stands in direct contrast to the academically weak reports commissioned by Walmart to promote its expansion in urban areas in recent years.
We commissioned this report because we wanted to learn about the true economic impact a Walmart would have on a neighborhood when it moves in, said David West, Executive Director of Puget Sound Sage. What Dr. Fowlers research shows is that a new Walmart, far from being a positive thing, is a net job killer and take millions from the local community.
West continues, Of particular interest is how this negative impact is so linked to the Walmart business model. A new generic grocery store does not equal economic harm, but a new Walmart does.
Walmart may say they help people Live Better, but this study shows that communities will be much worse off, with lower wages and less money in the community, after a Walmart opens.
West continues, Of particular interest is how this negative impact is so linked to the Walmart business model. A new generic grocery store does not equal economic harm, but a new Walmart does.
Walmart may say they help people Live Better, but this study shows that communities will be much worse off, with lower wages and less money in the community, after a Walmart opens.
Walmart has announced plans to open at least four new stores recently in Central Puget Sound: East Bellevue, Factoria Square, Tacoma and Lynnwood. It is widely assumed that Walmart also seeks to open stores in the City of Seattle.
Puget Sound Sage is distributing this report to regional policy makers as a resource for local policy discussions about the impact of opening additional Walmart-type stores on the local economy and poverty in our region.
Over the course of 2012 Puget Sound Sage will be releasing a series of briefs and reports examining the impact of service sector industries on the Puget Sound regional economy.
Click here to view the report.
http://pugetsoundsage.org/downloads/Walmart-Fowler-Report-2012-04-06_1-1.pdf
NYC_SKP
(68,644 posts)Those low prices have a very high cost, in the end.
K/R
for the people in the area to see.
HeiressofBickworth
(2,682 posts)There is a large Walmart mega-store north of Lynnwood. It's in an area that has little other shopping but a number of other businesses that offer no competition for the giant job-sucker. Lynnwood has a central business district with a large Fred Meyer combination department/grocery business. Winco opened a large grocery just to the east. Costco has a business center just north of the city and the other store just south. What I'm wondering is which store will be put out of business in order for Walmart to have a place to build? The area is already pretty full.
I've never been to Walmart and if they were the only store available, I'd drive to another town to shop.
progressoid
(49,951 posts)So, that's good right?
The new Walmart will replace the old Bakers Supermarket and the existing Family Dollar Store. The store should add 275 more jobs, and officials expect it to open in early 2014.
Read more: http://www.ketv.com/money/30857506/detail.html#ixzz1rjQsHUVf