New Report: Wal-Mart Destroys Local Economy
The opening of a Wal-Mart in New York City would likely eliminate more jobs than it creates, result in the loss of independently owned small businesses, and create an increased burden on taxpayers. “The history of the last decade tells us that Wal-Mart stands to be our City’s Trojan Horse,” said Public Advocate Bill de Blasio. “Wal-Mart’s record of driving small businesses out of town and paying below-poverty line wages to its employees will only exacerbate the current decline of New York City’s middle class. We must do everything we can to spur job creation in New York City, but that does not include opening our doors to a proven job-killer.” “Studies from all across the country show that Wal-Mart's arrival does not bring the increase in jobs and retail spending that the company promises,” said Brian Paul, Center Fellow and Masters of Urban Planning Candidate at Hunter College.