ie The Cape Cod Commission, a collective of 15 towns, has been embroiled in reviews for a new Lowe’s: “In a filing with the commission, Lowe’s said the store would create 115 new jobs. But an analysis by FXM Associates found that Lowe’s would not be adding to the economy, but rather siphoning off 10 to 20 percent of the sales at dozens of local hardware, lumber, appliance, paint, plumbing, and other stores. Declining revenue would force these retailers to lay off 163 people.” Think that’s bad? “These threatened jobs pay about 25 percent more on average than Lowe’s does, meaning the store’s arrival would trigger a net decline in household incomes of $3.2 million annually. The drain on the region’s economy is even greater, the analysis notes, if you consider the fact that, unlike competing locally owned retailers, Lowe’s will purchase very little in the way of goods and services from other Cape Cod businesses.”
Posted on: Mon, 08 Jul 2013 04:31:38 +0000
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