New Study Quantifies Wal-Mart’s Damage to Local Economies

via Puget Sound Sage:

“Our analysis finds evidence of significant direct and indirect impacts on the local economy associated with Walmart’s entry into the Skyway grocery market. The new Walmart grocery shifts consumption, diverting $25.38 million per year in sales from existing retailers in our base scenario. This translates into a drop in the total payroll value for all food sellers in the area of $655,000 per year or 1.2% percent of the total payroll value for grocery store employment within our study area.”

“When the direct and indirect effects of this change are considered, the impact rises to $898,000 in lost output, roughly 6.4 fulltime jobs and $998,000 in lost labor income. Although the positive impacts associated with redevelopment of the physical site contribute a direct positive effect of $2.67 million in economic output and $1.12 million in labor income in the first year, this is not nearly enough to offset other changes over the twenty year life of the project. The total impact of all changes estimated in our Base scenario over a twenty year project lifespan is projected to be a net loss of $13.07 million in economic output and a similar loss of $14.51 million in labor income.”

http://urlet.com/honesty.shotgun

http://pugetsoundsage.org//downloads/Walmart-Fowler-Report-2012-04-06_1-1.pdf

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