 Feb
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Subsidizing Wal-Mart
 Permalink 2 comments  Economics , Puerto Rico |
I just stumbled upon an article in Primera Hora that stated that the Puerto Rican government was to provide more than $3 million in subsidy to Wal-Mart's pay roll. That's bullshit.
First, Wal-Mart's Puerto Rican stores are probably the most successful of all of Wal-Mart's jurisdictions. In fact, EFE noted the head of Corporate Affairs for Wal-Mart Puerto Rico as stating "[the] company is in the middle of a process of growth in the island, a circumstance that will allow it to open two new stores this year." (EFE) I'm not a fan of the state subsidizing private sector employees, but if subsidies were to be given out, why not give them out to small and medium businesses and local industry?
Second, the State has already subsidized Wal-Mart enough by providing it with the roads, planning ordinances, and infrastructure needed to make its move to Puerto Rico economically viable. Subsidizing 1,000 new employees is crap. And sadly enough, they will most likely be part-time, minimum waged, and without any sort of benefits at all.
Third, it's an inefficient way to utilize public dollars. Especially for such low quality jobs. This same amount could provide over 150 business loans/grants of $20,000 each; cover the tuition of over 600 unemployed individuals who want to go back to school; hire a job placement social worker for each Municipality of Puerto Rico. The possibilities are endless. |
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