What Walmart Says…
“Walmart stores often serve as magnets for other new businesses, large and small.”
“The small businesses that surround our stores generally have products and services we don’t offer or are strong in areas where we can’t compete.”
“The small businesses that adapt can thrive and grow side by side with Walmart.”
What Walmart Doesn’t Say…
Walmart’s entry into a new market has a strongly negative effect on existing retailers. Supermarkets and discount variety stores are the most adversely affected, suffering sales declines of 10 to 40% after Walmart opens.
The value of Walmart to the economy will likely be less than the value of the jobs and businesses it replaces. A study estimating the future impact of Walmart on the grocery industry in California found that “the full economic impact of those lost wages and benefits throughout southern California could approach $2.8 billion per year.”
A study of Chicago in 2009 shows that businesses within one mile of a Walmart Supercenter have a 25% chance of shuttering in the first year, and a 40% chance of shuttering by the second year, when compared with stores farther than one mile from the Supercenter.
Local businesses keep more money in the community. A 2009 study of the differential impact of locally-owned businesses and big-box stores in New Orleans shows that while big-box stores only recirculate 16% of revenues into the community, locally-owned businesses recirculate twice as much.
A 2011 study of the St. Louis region found that as public tax dollars were diverted to big box retailers and shopping malls – more than $5.8 billion over 20 years – small business suffered. Over 600 small businesses (10 employees or less) closed during this time while retail sales have not increased in years.
A 2009 study from the Center for Economic Studies at the U.S. Census Bureau found that the entry and growth of big-box stores has a strong negative impact on the growth and survival of nearby independent and small-chain stores selling the same types of goods.
 Matt Byrne, “Walmart disputes claims by new Somerville coalition”, Boston Globe, 11 Nov 2011
 Srikanth Parachuri, Joel A.C. Baum, and David Potere. “The Wal-Mart Effect: Wave of Destruction or Creative Destruction?” Economic Geography 85.2 (2009): 209-236.
 Kenneth E. Stone, Georgeanne Artz, and Albery Myles. “The Economic Impact of Wal-Mart Supercenters on Existing Businesses in Mississippi.” Mississippi University Extension Service. 2002. http://Wal- Mart.3cdn.net/6e5ad841f247a909d7_bcm6b9fdo.pdf ; O. Capps, and J.M, Griffin. “Effect of a Mass Merchandiser on Traditional Food Retailers.” Journal of Food Distribution 29 (February 1998): 1-7; Vishal P. Singh, Karsten T. Hansen, and Robert C. Blattberg. “Impact of a Wal-Mart Supercenter on a Traditional Supermarket: An Empirical Investigation.” February 2004.
http://chicagobooth.edu/research/workshops/marketing/archive/WorkshopPapers/hansen.pdf; Kusum L.
Ailawadi, Jie Zhang, Aradhna Krishna, and Michael W. Kruger. “When Wal-Mart Enters: How Incumbent Retailers React and How This Affects Their Sales Outcomes.” Journal of Marketing Research 47.4 (August 2010).
 Martin Boarnet, and Randall Crane. “The Impact of Big Box Grocers on Southern California: Jobs, Wages, and Municipal Finances.” Orange County Business Council. September 2009.
 Julie Davis, David Merriman, Lucia Samayoa, Brian Flanagan,Ron Baiman, and Joe Persky. “The Impact of an Urban Wal-Mart Store on Area Businesses: An Evaluation of One Chicago Neighborhood’s Experience”, Center for Urban Research and Learning, Loyola University. December 2009, pg 17.
 Thinking Outside the Box: A report on independent merchants and the New Orleans economy, September, 2009. The Urban Conservancy in partnership with Civic Economics.
 “An Assessment of the Effectiveness and Fiscal Impacts of the Use of Local Development Incentives in the St. Louis Region” East-West Gateway Council of Governments; Jan 2011