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WAL-MART COMING TO A HOOD NEAR YOU: Retail chain announces new initiative to build over 50 stores in high crime/high unemployment zones.
These new stores are expected to create between 15,000 and 25,000 jobs, mostly within minority communities, and generate more than $100 million in state and local tax revenue for these communities, reports Target Market News.
"Wal-Mart has never been afraid to invest in communities that are overlooked by other retailers. Where those businesses see difficulty, we see opportunity. That is who Wal-Mart has always been, and that is who we remain today," Scott said Monday at the Newspaper Association of America's annual convention. "This is a commitment to reach beyond our stores, to further engage the community, and to offer an even greater economic boost to people and neighborhoods that need Wal-Mart the most."
Wal-Mart will build stores in areas affected by high crime or unemployment rates, on sites that are environmentally contaminated, or in vacant buildings or malls in need of revitalization.
A new Wal-Mart currently under construction on the West Side of Chicago will anchor the first "Wal-Mart Jobs and Opportunity Zone." Each of the ten "Wal-Mart Jobs and Opportunity Zones" will be anchored by a store and engage a host of local businesses and organizations with which the company will work to increase job creation and economic opportunity in surrounding neighborhoods. The locations of the remaining nine zones will be announced in the coming months.
