Wal-Mart Subsidies in Opelousas, LA
|Address||3160 Highway 743|
|Type of Facility||distribution center|
|Value of Subsidies||$33 million|
NarrativeThe Economic Development District of St. Landry Parish agreed to issue $30 million in industrial revenue bonds, which were then purchased by Wal-Mart. The District held the title on the land and leased it to the company. This enabled Wal-Mart to avoid paying property taxes. Local officials estimate the savings at $1 million the first year, for a total of at least $30 million over the life of the bonds. The state provided $3 million in infrastructure improvements.