What It Really Costs When Walmart Comes to Town
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Title : What It Really Costs When Walmart Comes to Town
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Title : What It Really Costs When Walmart Comes to Town
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news-today.world | It's more bad news for Walmart. After a New York Times story alleged that Walmart bribed officials in Mexico to allow the company to open stores in that country, another new report reveals exactly how much it costs a community in dollars and cents when Walmart comes to town.
The research, done by a Northwest community group, estimates that one Walmart store, which is set to open in a Washington neighborhood, will decrease the community's economic output over 20 years by an estimated $13 million. It also estimates the Walmart will cost the community an additional $14 million in lost wages over the next 20 years.
The research, done by a Northwest community group, estimates that one Walmart store, which is set to open in a Washington neighborhood, will decrease the community's economic output over 20 years by an estimated $13 million. It also estimates the Walmart will cost the community an additional $14 million in lost wages over the next 20 years.
"We know now the true economic impact a Walmart store has on a neighborhood when it moves in," Christopher Fowler, who conducted the research for Puget Sound Sage, said. "The research shows that the negative impact is due to the use of 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,'" said David West, executive director of Puget Sound Sage, a nonprofit public policy organization that looks at regional economic issues. "But this study shows that communities will be much worse off, with lower wages and less money in the community, after a Walmart opens."
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"Walmart may say they help people 'Live Better,'" said David West, executive director of Puget Sound Sage, a nonprofit public policy organization that looks at regional economic issues. "But this study shows that communities will be much worse off, with lower wages and less money in the community, after a Walmart opens."
More here
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