Anatomy of a deal: Wal-Mart in Baytown

Tuesday, July 13, 2004

Wal-Mart chose Baytown, TX for its largest ever distribution facility. The State of Texas helped out with a fat incentive package financed by the Permanent School Fund of Texas. The Fund will buy the facility from Wal-Mart and lease it back for 30 to 40 years. The rent payments go to the fund. But the fund is tax-exempt, so local cities, counties and school districts cannot collect taxes on the land or the building.

Not surprisingly, this deal has raised a few eyebrows. Read more.

posted by Ed Morrison |

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