Mega-retailer Walmart has selected Dorchester county, South Carolina as the location for a new $220 million distribution center that state officials claim will create 1,000 mostly low-paying jobs.
Can those numbers be trusted? Eh …
More specifically, can Walmart announcements in the Palmetto State be trusted? Again … eh.
Officials say the new facility will be completed by September 2021, and will “supply several regional distribution centers supporting approximately 850 Walmart stores and Sam’s Clubs across South Carolina and beyond.”
“Walmart has proven to be an exemplary partner that is committed to South Carolina and our citizens,” South Carolina governor Henry McMaster said in making the announcement on Monday. “We couldn’t be prouder that such an important and successful company has decided to invest in our people and create even more jobs for hardworking South Carolinians.”
Wait, though … are “hardworking South Carolinians” also subsidizing the construction of this facility? You better believe it …
According to a release from the governor’s office, the so-called “coordinating council for economic development” – part of the scandal-scarred S.C. Department of Commerce – has “approved job development credits” related to this project, although an amount for these credits was not specified.
In addition to this undisclosed sum, state taxpayers are also shelling out $5 million to Dorchester county to “assist with related project costs.” Our guess is there will be a host of additional local incentives offered in connection with this project, including controversial “fee in lieu of tax” (or “FILOT”) agreements that raise property taxes elsewhere in the county to give Walmart additional subsidies.
STORY CONTINUES BELOW
Founded in 1962, Walmart is the largest company in the world in terms of revenue – bringing in $524 billion annually. It is also the largest private employer in the world with 2.2 million employees.
In other words, it can afford to build its own distribution centers.
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