Wal-Mart Subsidies in Los Lunas, NM
Store Details
City Los Lunas
State NM
Address 670 Los Morros NW
ZIP code 87031
County Valencia
Type of Facility distribution center
Year Opened 1999
Value of Subsidies about $6.7 million

Narrative
In addition to spending $600,000 on infrastructure improvements, Los Lunas agreed to issue $50 million in 30-year industrial revenue bonds to finance construction of the distribution center. Wal-Mart is responsible for payments on the bonds, but the village is technically owner of the facility. This means that Wal-Mart does not have to pay property taxes. According to local officials, the taxes that would have been payable in 2004 were $204,464. Over 30 years, this amounts to a savings of about $6.1 million.

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