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Walmart Economic Impact Analysis 3 December 31, 1996 <br />detrimental effects on the existing tenants, thereby affecting taxable sales to the City from West <br />Gate, as well as compromising the overall viability of the West Gate center. While there are other <br />acceptable retail solutions such as tearing down the existing Costco building and building two <br />smaller retail stores (e.g., computer/home entertainment or discount apparel), the economic <br />feasibility has not been evaluated nor has such a project been forthcoming. <br />Replacing a retail use such as Walmart with an office or industrial use was determined to be <br />infeasible due to costs, lack of market demand and value of the West Gate center. <br />Impact on Employment <br />The report concluded that there would be no negative employment impacts. If K-Mart closes, any <br />job loss would be off -set by Walmart opening. There is the possibility that a new Walmart would <br />create a net new gain in jobs due to its likelihood of capturing additional sales. In terms of wages <br />and salaries paid, a recent study by Sedway Kotin Mouchly Group for the City of San Jose <br />concluded that overall wages paid at high volume retailers are comparable to wages paid by <br />traditional retailers. <br />JC/DP:cu:la <br />Attachment <br />GADEBBIEVALMART4.1)OC <br />97 <br />