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Monday, November 15, 2010

Metropolitan St. Louis Area stunts growth by feeding on itself

Simular situation happened here, in Hermann MO, When Alco came to town, Pamida left, soon after!
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NOVEMBER 4 2010, -- The former home of Wal-Mart in a Town and Country Mall strip mall. Wal-Mart opened the store in the 1980s, but chose to reopen a larger store about a mile westward in the new Manchester Shopping Center due to the tax increment financing incentives (TIF) offered by the City of Manchester..
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When Wal-Mart moves two miles west to a new store in Bridgeton, the once-thriving Cypress Village shopping center will shrivel into just another dying strip mall.

It's a familiar pattern across metropolitan St. Louis, where the inventory of retail space has grown more than twice as fast as the population over the last decade. The difference shows up in "for lease" signs dotting corridors like St. Charles Rock Road, where Cypress Village straddles the border between Bridgeton and St. Ann.

In a slow-growth region like St. Louis, these government giveaways amount to a zero-sum game. Dozens of municipalities pilfer business from one another — mostly retail outlets, with their low-wage jobs — while the metropolitan area at large gains little in the way of employment or wealth. Rather than luring new investment, the economic ecosystem essentially feeds on itself.. Click Here for more info.
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________________________________________________________________________________ Reciprocal links:
http://HermannHearsay.blogspot.com/(Hermann Area News, Commentary & Discussion)
http://www.HermannAdvertiserCourier.com/(Gasconade County's Newspaper of Record)

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