Wal-Mart Subsidies in North Platte, NE
|Address||3001 East State Farm Rd|
|Type of Facility||distribution center|
|Value of Subsidies||more than $15.2 million|
NarrativeThe city used $1 million in tax increment financing bonds to purchase land that was then granted to Wal-Mart. The company bought the bonds and will be repaid through a property tax abatement. The city used a $1 million Community Development Block Grant and $3.2 million in state funds to purchase the distribution center's racking system, which was granted to Wal-Mart. The city waived $170,000 in fees, provided office space worth $6,000, and made infrastructure improvements, the cost of which was not available. The state provided $400,000 from the Nebraska Customized Job Training Program and tax abatements through the Invest Nebraska Act and Employment and Investment Growth Act. State officials would not estimate the value of the abatements, but an Associated Press story on November 26, 2001 put them at $2 million and $7.45 million, respectively.