Wal-Mart Subsidies in Corona, CA
Store Details
City Corona
State CA
Address 479 N McKinley St
ZIP code 92879
County Riverside
Type of Facility discount store
Year Opened 1994
Value of Subsidies $2 million

The city agreed to pay $5.5 million (plus interest) over 20 years to lease the parking lot of a development that includes a Wal-Mart, a grocery store, and many smaller stores and restaurants. Of that amount, $2 million went to Wal-Mart and $3.5 million went to the developer. The lease payments are made through sales tax diversions: Wal-Mart keeps 50% of the sales tax the store generates and sends the rest to the city. Half of the sales tax generated by the entire shopping center also goes to Wal-Mart, and the other 50% is paid to the developer; the city will receive no sales tax revenue from the other stores until 2013 or until the full amount of the lease is paid.
2007 Good Jobs First. This site is in no way connected with Wal-Mart Stores, Inc. or any affiliate of Wal-Mart Stores, Inc.