Wal-Mart: Shoppers Exit City

The New York Sun reports:

City Council members have so far managed to keep Wal-Mart out of the city, but they can't stop New York City residents from shopping at Wal-Mart.

The nation's largest retailer will announce today that city residents are heading to suburban Wal-Mart stores in record numbers - spending 30% more at the region's half dozen or so Wal-Mart stores last year than they did in 2004.

The retailer hopes these statistics will persuade City Council members to approve Wal-Mart stores within the five boroughs. Using credit card data, the company says city residents spent about $128 million in 2005 at stores in New Jersey, Long Island, Connecticut, and Westchester County. In 2004, New Yorkers spent about $98 million in those stores.

The loss of tax revenue to the city from these sales is significant. Wal-Mart says every new store in New York City would create about 300 new jobs and generate about $5 million in tax revenue for the city.

Some cities don't want jobs.New York City is that kind of town.