Wal-Mart Subsidies in Los Lunas, NM
Store Details
| City | Los Lunas |
| State | NM |
| Address | 670 Los Morros NW |
| ZIP code | 87031 |
| County | Valencia |
| Type of Facility | distribution center |
| Year Opened | 1999 |
| Value of Subsidies | about $6.7 million |
Narrative
In addition to spending $600,000 on infrastructure improvements, Los Lunas agreed to issue $50 million in 30-year industrial revenue bonds to finance construction of the distribution center. Wal-Mart is responsible for payments on the bonds, but the village is technically owner of the facility. This means that Wal-Mart does not have to pay property taxes. According to local officials, the taxes that would have been payable in 2004 were $204,464. Over 30 years, this amounts to a savings of about $6.1 million.
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