2 New York City is home to many of our best competitors. Companies such as Sears, Kohl¶s, Macy¶s,Trader Joe¶s, Marshall¶s, TJ Maxx, Dollar Store, Home Depot, Costco, Target, Best Buy, BJ¶s, Lowes,Ikea, Kmart, Office Max, Office Depot, Toys µR Us, Borders, Barnes & Noble certainly have changedthe face of retail across all 5 boroughs. We believe that the jobs, business competition and economicgrowth created by Walmart and companies such as these are to the benefit of any community.The joint hearing, however, does not appear to consider the impact of the hundreds of NYC storesoperated by these companies; rather it focuses solely on Walmart. Since we have not announced astore for New York City, I respectfully suggest the committee first conduct a thoughtful examinationof the existing impact of large grocers and retailers on small businesses in New York City beforeembarking on a hypothetical exercise.For these reasons and more, we respectfully decline participation in the February 3
hearing.Should the committee decide to conduct the hearing in a more comprehensive manner, we would behappy to revisit our decision. In the interim, we do feel a responsibility to better inform the planneddiscussion and share some facts about the company that the committee can share with participants.Walmart¶s ³save money, live better´ mission is relevant to every customer, every day, everywhere wehave a presence. During tough economic times, the savings we provide matter more than ever. We seean opportunity and a responsibility to lead on issues like sustainability, sourcing, economic opportunityand health care. Through sustainability, we¶re lowering costs and improving product quality. We¶rehelping customers and suppliers become more responsible through our purchasing and sourcingchoices. We¶re creating thousands of jobs around the world each year. And on health care, our $4 prescriptions have saved customers $3 billion in the last three years. Initiatives like these help usdeliver on our mission, and they contribute to the strength of the Walmart business.
Walmart currently operates 111 stores in New York State and last year, collected $364 million in statesales taxes and paid more than $88 million in property taxes. Although we do not have any stores inthe five boroughs, New York City residents spent more than $165 million at Walmart last year.
Impact on Communities
All across the country, Walmart co-exists with small, medium and large businesses. A quick visit tothe neighborhoods that are home to our stores, particularly in urban settings, will give you a goodsense of how we foster opportunity for others. Chicago is a great example. Since we opened our storethere, 22 new businesses have opened nearby including a Food4Less, Menard¶s, ALDI, BurlingtonCoat Factory, Harris Bank, Bank of America and Chase Bank. This is not surprising. There have beencountless studies done that show Walmart stores are a magnet for growth and development.
Walmart creates jobs that provide a competitive wage, affordable benefits and the chance to build acareer. In New York State, we already employ more than 38,000 people, including over 1,400 NewYork City residents. The majority of these positions are full-time. Nationwide, more than 70-percent