Report on proposed economic impact of Walmart in Tacoma released
Posted on February 14, 2012Hebert Research, Inc. and Bellevue based international market research firm released its current economic impact case study for the proposed Walmart in the City of Tacoma. The report is attached.
Conclusions: (from p. 7 of the study)
“Walmart projects that its Tacoma site will employ approximately 300 total people (full-time, part-time and management). In addition to the 300 jobs that this will directly create, the wages earned by these Walmart employees will be spent in the local economy, creating an effect beyond the raw value of the wages paid.
By employing approximately 60% of its workforce at full-time (about 180* associates working on average at $12.79 per hour), an analysis* using IMPLAN economic modeling projects that, of the $4,788,576 that will be paid annually to these Walmart employees, an average of $3,987,949 of that money will be spent in the local economy each year. Indirect effects, reflecting changes in inter-industry purchases caused by increased consumer demand, amount to an additional $1,120,295 per year.” (paraphrased) Induced effects will add a further $1,216,352 per year. This represents additional changes in household spending caused by the increase in money flowing through the economy. “In total, the jobs created by the Tacoma Walmart will add approximately $6,324,596 to the local economy per year.”
The data for this study came from several sources.
1. Washington State Departments of Employment Security, Revenue, and The Washington State Auditor
2. Neilsen Claritas
3. U.S. Census Bureau
4. Walmart Corporation (for square footage of facilities, number of employees, and retail offerings)
For additional information regarding the study methodology, please contact:
Jason B. Millet, Research Analyst, Hebert Research, Inc.
Tele: (425) 643-1337 :: jmillet@hebertresearch.com
For additional information regarding Walmart and the Tacoma location, please contact:
Steven V. Restivo, Senior Director, Community Affairs Walmart
479.616.4493 :: srestiv@wal-mart.com
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2 Comments
February 15th, 2012 at 10:55 am
Was there also an impact study on how Walmart's Tacoma location (which is just across the street) will effect business (and consequently employees) at Target and the other stores in that shopping center? I doubt it.
February 18th, 2012 at 9:10 pm
Chris, it is called free enterprise competition. Target is a big box just like WalMart. Competition does not make one go out of business stupid government regulations do. Competition makes for a healthy economic system monopolies do not. I do not hear the crying coming from Target just left wingers who don't like WalMart's politics.