Wal-Mart Subsidies in Collinsville (I 55/70), IL
Store Details
| City | Collinsville (I 55/70) |
| State | IL |
| Address | Interstate 55/70 and State Highway 157 |
| ZIP code | 62234 |
| County | Madison |
| Type of Facility | Supercenter |
| Year Opened | Expected mid-2007 |
| Value of Subsidies | $9.5 million |
Narrative
The city council approved a $19 million incentive package for the developer of the shopping center containing this store. This included $12 million for land acquisition costs and $7 million for infrastructure and site preparation assistance. The development will have two major anchors: the Supercenter and a Home Depot's. We assume half the subsidy can be attributed to each anchor, making Wal-Mart's portion $9.5 million. The incentives will be paid in part for through incremental sales tax revenues.
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