Wal-Mart Subsidies in Sharon Springs, NY
|Address||100 High St|
|Type of Facility||distribution center|
|Value of Subsidies||estimated $46 million|
NarrativeThe deal called for the Schoharie County Industrial Development Agency to take title to the facility, so that it would be exempt from property taxes. Wal-Mart agreed to make a (partial) payment in lieu of taxes, so that the deal was in effect a property tax abatement. Based on information from county officials, we estimate that the savings to Wal-Mart will total about $46 million over the 20-year life of the agreement.