Many residents did not like hearing the summary of the economic impact statement paid for by Wal-Mart but directed by the local government of Hillsboro, NH:
HILLSBORO - Building a Wal-Mart Supercenter in Hillsboro would help the local economy by drawing new shoppers to town and keeping residents from traveling to Concord to spend their money, an economic analysis on the project shows....Here's the real fear:"Conventional wisdom is that Wal-Mart kills mom-and-pop retailers, but the impact appears to be more on other national discounters and chain stores...."
Of 46 retail outfits in town, only nine, including Rite-Aid and Shaw's, would compete directly with Wal-Mart. Another eight stores, including Aubuchon Hardware and Radio Shack, would compete somewhat with Wal-Mart....
Thibeault also confirmed a fear held by many Wal-Mart opponents: that more big box stores, like Lowe's and Staples, will probably follow once Wal-Mart builds. While some residents may not find the stores aesthetically pleasing, they do tend to give towns a financial boost, Thibeault said.David Fullerton asked how many more box stores might come.
"Seventeen," Thibeault said.
"Oh my God!" Fullerton gasped.
"No, I'm just kidding."Thibeault said. "I don't know." He said he is about 85 percent finished with the study and he will look into how much land is left in town where large stores could be built.
Posted by Kevin on April, 8 2005 at 08:25 PM
M&A wrote:Keep up the great work. Is it true that Wal-Mart is buying Tesco? I suspect that the deal is all but virtually done and will be announced in the coming weeks.
This is based on my own opinion and not from any information I have knowledge of.
-- April 8, 2005 09:15 PM ∞
The Eclectic Econoclast wrote:A consultant with a sense of humour?? Great!
More seriously, how does having a big-box mall give a town a boost? People come in and shop or they don't leave to shop elsewhere. So?
I expect the multipliers for this sort of thing are pretty small.
-- April 9, 2005 07:48 AM ∞
Kevin Brancato wrote:Seventeen! Oh my God! Really, that brightened up my day.
Also, the Hillsboro gumbnt wants to grab the sales tax revenue currently going to the Concord gubmnt. It might not give the town a boost, but it sure gives the town gubmnt one...
Here's a preliminary "nice" version of how WM impacts small towns. WM competitors are forced to repent their high price sins or increase service. Those that don't die; many complementary small retailers flock to centers with a Wal-Mart.This also starts a process of character change and new entry downtown. Small businesses downtown that loved the status quo decide that they have to revitalize and reconfigure their downtown in order to attract all the money people have saved by shopping at WM. Gumbnt spends some of its new WM tax money subsidizing WM competitors...
-- April 9, 2005 08:02 AM ∞
