Controversial Mall will not Boost Jobs or Revenue, Study Concludes

Date: 1 Sep 2003 | posted in: Retail | 0 Facebooktwittergoogle_plusredditpinterestmail

Developers of a massive shopping center in Leominster, Massachusetts, claim the project will create 869 new jobs and boost the city’s property tax revenue by $400,000 annually. But a study by a nationally recognized land use economist has found that the development will destroy about as many jobs as it creates and provide the city with only $51,000 in additional revenue. To put that into perspective, if the new revenue were used to cut residential property taxes, each of the city’s 17,000 households would save just $3 annually. … Read More