Midway Home Depot Dismantles Concept of Quality of Life

Date: 5 Jun 2001 | posted in: Retail | 0 Facebooktwitterredditmail

Home Depot wants to build one of its giant stores with a multiacre parking lot on the corner of Lexington Parkway and University Avenue. The St. Paul City Council has authorized city officials to negotiate a financing package with the Atlanta-based corporation that could include as much as $5 million in tax increment financing (TIF), a form of public subsidy. Once a formal plan is submitted, the City Council will vote on whether to approve the development. Supporterscontend Home Depot will generate new jobs and tax revenue. But numerous studies have found that these giant chain retailers destroy about as many jobs and as much tax revenue as they create. This is because retail spending in a given market is a relatively fixed pie. Adding a massive amount of new retail in one location — in this case an estimated $40 million in annual sales — will invariably cause revenue to decline at established local businesses.Many of these businesses will be forced to downsize or close. The resulting job and tax losses will substantially offset the gains created by Home Depot. … Read More

Home Depot Backs Out Of Downtown Portland

Date: 1 May 2001 | posted in: Retail | 0 Facebooktwitterredditmail

Having saturated rural and suburban markets, big box retailers are making an aggressive push into central cities. In many communities, however, they are facing strong neighborhood opposition. Last year, Home Depot, which has 1,100 outlets worldwide, announced its intention to open a store in the Hollywood neighborhood of Portland, Oregon. The corporation proposed a 4-block, multistory building that would combine a 100,000 square foot store with offices, apartments, small shops, and two levels of above-ground parking.… Read More

Pittsburgh Redevelopment Plan Dropped

Date: 1 Jan 2001 | posted in: Retail | 0 Facebooktwitterredditmail

Small business owners and neighborhood activists were elated in November when Pittsburgh Mayor Tom Murphy decided to drop his controversial downtown redevelopment plan. The $522 million project involved demolishing 60 historic buildings and condemning 120 mostly locally owned businesses. In their place, Murphy sought to build a massive retail complex, anchored by a Nordstrom department store and several dozen national chains. … Read More

1 30 31 32 33