Wal-Mart Subsidies in Sarasota (Newtown), FL
Store Details
City Sarasota (Newtown)
State FL
Address US Hwy 301
ZIP code 34234
County Sarasota
Type of Facility Supercenter
Year Opened undetermined
Value of Subsidies at least $2.6 million

Narrative
Because this site is in an enterprise zone, Wal-Mart could be eligible for many subsidies. The economic development coordinator of Sarasota County has estimated that Wal-Mart will save at least $2-$3 million by having a total exemption from county road, fire and ambluance impact fees. Additionally, the city will match state incentives on electricity bill tax credits. If less than 20% of the Wal-Mart employees are residents of any Florida Enterprise Zone, savings to the company will total $600,000; if more than 20% of the Wal-Mart employees are residents of any Florida Enterprise Zone, savings to the company will total $1,500,000. Wal-Mart is eligible for up to $10,000 in tax credits on building materials. It will also be eligible to receive a tax credit of up to 30% of wages paid to full-time employees who reside in any Florida Enterprise Zone. This site is also a designated brownfield. Under the state brownfields program, Wal-Mart may receive a $750,000 tax refund (for creating 300 jobs). The company is also eligible for a Voluntary Cleanup Tax credit, which a county redevelopment specialist says may save the company $1.6 million to $2.4 million. While some of these elements remain uncertain, we were told that Wal-Mart will receive at least $2.6 million--$2 million from the impact fee waivers and $600,000 from the electricity tax credits.

Print Friendly

2007 Good Jobs First. This site is in no way connected with Wal-Mart Stores, Inc. or any affiliate of Wal-Mart Stores, Inc.