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New member
Username: Eltonwheelock

Post Number: 2
Registered: 07-2006
Posted on Tuesday, August 22, 2006 - 11:16 pm:   

I have read that the City of Frisco gave Wal Mart $2.5 million in subsidies to build the new store at 423 @ Eldorado. Is this true? If so, why? Wal Mart's profits last year reached over $10 billion. If the city did indeed offer these incentives, why? Part of the charm of living up here is there is no Wal Mart. I cannot say that too much longer. More Wal Marts aren't neccessarily better. Wal Marts that cost the taxpayers definetly are NOT.

Perry Harts, Information Services Mgr
Username: Perry

Post Number: 10
Registered: 06-2002
Posted on Tuesday, August 29, 2006 - 04:28 pm:   

City sales tax revenues are a major factor in keeping Frisco's property tax rates low. Since Frisco is surrounded on all four sides by other cities, competition is fierce for "big box" retailers like Wal-Mart, Sam's, Lowe's, Home Depot, Super Target, Costco and others. Frisco and Little Elm competed for the Wal-Mart SuperCenter under construction at Eldorado and FM423. In the end, Little Elm landed Lowe's and Frisco landed Wal-Mart. Based on taxable goods sold, a Wal-Mart will generate significantly more annual sales tax revenue than a Lowe's.

Frisco does not give away economic incentives. All economic incentives are negotiated on a case-by-case basis and must be earned over a period of time by a project upon attainment of agreed performance requirements. Based on the projected taxable sales of this Wal-Mart, Frisco's economic incentive over a ten year period could be approximately $2.5M. Actual annual taxable sales will ultimately determine the total economic incentive earned.

However, during that same period, Wal-Mart is projected to generate new sales tax revenues of approximately $7.5M for the City of Frisco. If the Wal-Mart had located across the street in Little Elm, Frisco residents would be spending their sales tax dollars in Little Elm. This is called retail leakage, which would be lost revenues for the City of Frisco.

James L. Gandy, CEcD
Frisco Economic Development Corporation

Bryan Fritchie
New member
Username: Hogcall

Post Number: 8
Registered: 06-2006
Posted on Thursday, August 31, 2006 - 04:59 pm:   

Mr Gandy, I have sent multiple messages to Wal-Mart asking for a store to be built around ElDorado & Preston. Has there been any talk with Wal-Mart about other locations?

Curt Balogh, Spec. Asst. to the City Mgr
Board Administrator
Username: Admin

Post Number: 305
Registered: 02-2003
Posted on Friday, September 15, 2006 - 07:39 am:   

To my knowledge the Frisco EDC has not had any conversations with Wal-Mart regarding a store near Eldorado & Preston Road. Based of the projected build-out population of Frisco, I believe there is a good opportunity for Wal-Mart to build a second store in Frisco, and Preston Road would make a good location.

Once the Wal-Mart at Eldorado & FM423 is further developed, I think Wal-Mart will revisit this opportunity and their decision will highly influenced by the number of residential rooftops, population demographics and the site's distance from other Wal-Marts.

James L. Gandy, CEcD
Frisco EDC

Brian C
New member
Username: Brianc

Post Number: 68
Registered: 06-2003
Posted on Monday, September 18, 2006 - 10:45 am:   

From my understanding, Frisco gave Lowe's $1 million in incentives to build on Preston. What this the same incentive offered for the second Lowe's... if so, I assume it was turned down. What was Little Elm's incentive to gain Lowe's?

Curt Balogh, Spec. Asst. to the City Mgr
Board Administrator
Username: Admin

Post Number: 306
Registered: 02-2003
Posted on Monday, September 18, 2006 - 04:55 pm:   

Frisco did not give Lowe's $1 million in incentives to build on Preston. In 1999 the developer donated the right-of-way and the city built the four lane section of Gaylord Parkway from Preston Road to Ohio Drive. The Frisco EDC has not offered an economic incentive for Lowe's to locate a second store in Frisco. The Little Elm EDC can answer your question about the economic incentive they offered Lowe's.

Jim Gandy
Frisco Economic Development Corporation

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