NAPERVILLE, Ill. (CBS) — Residents of some parts of Chicago protested and tried to stop Wal-Mart when the retailer announced plans to move in, but in Naperville, the city government is willing to dish out some big money to keep Wal-Mart from leaving.
As WBBM Newsradio’s Dave Berner reports, the Naperville City Council says losing Wal-Mart to Aurora would also likely mean losing Sam’s Club, and possibly as much as $1 million in tax revenue, the Daily Herald reported.READ MORE: Chicago Sky Win First WNBA Championship As They Top Phoenix Mercury
Naperville is not willing to take that risk.
The Daily Herald says members of the Naperville City Council have agreed to rebate $1.75 million in tax revenue back to the company over 15 years.READ MORE: Jubilant Fans, Booming Businesses Near Wintrust Arena As Chicago Sky Win WNBA Championship
Wal-Mart plans to move out of its current store on Route 59 into a spot on 75th Street, where it will build a Supercenter, the Daily Herald report.
But had Naperville not offered the tax help, city officials believe Wal-Mart was poised to move to a larger property that would combine it with Sam’s Club, also on Route 59, but in Aurora.MORE NEWS: Amid Another Day Of Water Pressure Woes In Dixmoor, Village President Says Relief Is On The Way
LISTEN: WBBM Newsradio’s Dave Berner reports