Wal-Mart Subsidies in Chesterfield, MO
|Address||100 THF Blvd|
|Type of Facility||discount store|
|Value of Subsidies||about $2.6 million|
NarrativeAfter a flood in 1993, the city created a tax increment financing district that encompassed the entire Chesterfield Valley. THF Realty approached the city with a plan for a massive retail complex anchored by a Wal-Mart, Target, Lowe's, Sam's Club, and Home Depot. TIF funds were used to put infrastructure in place around the site and to strengthen the levee. The total value of the TIF for road and drainage improvements near the site (not including levee work) was $13 million. We divided this amount among the five anchors to estimate the benefit to Wal-Mart.