Wal-Mart Subsidies in Baytown (distribution center), TX
|City||Baytown (distribution center)|
|Address||4554 E Greenwood St|
|Type of Facility||distribution center|
|Value of Subsidies||more than $1 million|
NarrativeThe city, county, and state pledged approximately $1 million in infrastructure improvements. In August 2005 the Texas General Land Office agreed to spend $100 million to purchase the land and building of the completed center and lease it back to Wal-Mart for 30 years, generating income for the public school fund and freeing Wal-Mart from having to tie up a large amount of capital. News accounts have estimated that Wal-Mart could save $70 million over 30 years by virtue of not having to pay property taxes (given it will not be the owner), but the company is being required to make lease payments on the facility that reportedly will total about $238 million over the 30-year period. It will also be paying an estimated $5.7 million annually in other local taxes. Wal-Mart will have the right to buy back the facility.