Wal-Mart was able to move into a building that was already zoned for a Kmart, so it was able to avoid the controversy that it frequently faces in establishing new stores.
Wal-Mart has hired about 325 employees for a store that will carry Wal-Mart's usual vast array of general merchandise and food items.
Many retailers, particularly independent grocers, see their sales plummet 10% to 25% after the opening of a Wal-Mart discount or super-center store, says Ken Stone, a retired Iowa State University economics professor who has followed the giant retailer for years.
A coalition of unions and community organizations picket the store's opening, arguing that Wal-Mart's low-wage jobs would hurt the area's largely unionized grocery industry.
Wal-Mart defends itself, pointing out it has nearly 60 stores in Minnesota, employing more than 16,400 workers. In fiscal 2002, the company paid $96 million in sales taxes and $24 million in state and local taxes.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.