Wal-Mart's $1 Billion Subsidy

A subsidy watchdog group details how Wal-Mart has received over $1 billion in government subsidies.
May 26, 2004, 9am PDT | Chris Steins | @urbaninsight
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"Over $1 billion in government subsidies have gone into transforming discounter Wal-Mart Stores from a regional discount store operator into the world's largest retailer, according to a report Monday from Good Jobs First, a Washington-based subsidy watchdog group... the report found that 84 of Wal-Mart's distribution centers received an average of $7.4 million in subsidies, totaling about $624 million. Additionally, a database search for tax-exempt bonds issued by state and local authorities indicated that another 69 Wal-Mart stores received other low-cost financing of about $138 million."

Thanks to Chris Steins

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Published on Monday, May 24, 2004 in CNNMoney
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