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AttachmentG The Negative Socio-Economic Impacts of Wal-Mart Net Loss of Jobs, Fewer Small Businesses While City representatives may have engaged in discussions with has been no public review of Wal-Marts plans or assessment of po case of the new Wal-Mart store in Chicago strongly suggests nega City could expect to experience with the introduction of Wal-Mar Center for Research & Urban Learning at Loyola University survey 22 and after the opening of Chicagos first Wal-Mart in September 2 The survey found that Wal-Marts entry led to local business failures, no measurable in sales in the immediate area of the new store, and a noticeable d surrounding areas. To be more precise, 25% of retail businesses closed within a year. The Loyola study confirmed a basic principle of retailing in urb most part based on a finite pool of disposable consumer income, create new sales without taking them away from others. For Wal- there is no evidence of an overall upturn in sales, concluded t also declined overall: Retail employment levels in Wal-Marts o significant change, presumably because of the addition of Wal-Ma employment trends in neighboring zip codes show a negative effec 23 This effect is significant in the period 2003-2008. The researchers found that the hardest-hit businesses were selling electronics, toys, office supplies, gener furnishings and drugs. A University of Illinois analysis of a pr 2004 had accurately predicted that the megastores arrival would 24 minimal increase in net tax revenues. Other research shows that Wal-Marts arrival in a new market has 25 on ethnic retailers including supermarkets, bodegas, electronics A recent study in Florida found that drugstores and stores specializing in furnishings, cards and gifts, and other essential consumer house Page23of95