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$4.2M for a downtown Detroit Whole Foods store
Topic Started: May 21 2012, 11:12 AM (309 Views)
LTC8K6
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Assistant to The Devil Himself
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$4.2 million in tax incentives brings Whole Foods to depressed downtown Detroit

Michigan politicians met in downtown Detroit on May 14 to break ground on a new Whole Foods Market with hopes of boosting the area’s economy and bringing new jobs to the city.

The new store is said to be part of an incentive package that includes $4.2 million in state and local funds. The store will receive tax credits and promise to remain open for seven years after receiving the first installment, Spero News reported.

Michigan Democratic Sen. Debbie Stabenow and Detroit Democratic Mayor Dave Bing joined Whole Foods co-chief executive Walter Robb at the groundbreaking.

Proponents of the project are hoping that the market will create what they refer to as the “Whole Foods Effect,” where real estate values increase in areas where stores put down roots.

The store will create at least 60 jobs. Retailers nearby are hoping that the Whole Foods will encourage shoppers to remain in the area after dark.

The mid-town Detroit Whole Foods is scheduled to open in 2013


:laughin:

They are broke, but they need that store...

http://dailycaller.com/2012/05/18/4-2-in-tax-incentives-brings-whole-foods-to-depressed-downtown-detroit/


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kbp

The store will create at least 60 jobs




Well, it reads more like the taxpayers bought the jobs to me. I hope this is not a situation where the taxpayers subsidize both the sales and purchases, both ends of that commerce!
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wingedwheel
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I read about this a while back. First thought was everyone else that shops at other Whole Foods is going to be paying more for their food to prop up this location.

I also wonder how big this store well be compared to other Whole Food locations. For those that don't know they come in different sizes. I read that Whole Foods was trying to get away from the gigantic WF locations. The smaller WF's have less of a selection. If they go too small, other places could get their business. If they go too big they well have too much product not being sold.
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Baldo
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I really like Whole Foods Market, but they are placed in affluent neighborhoods for a reason. It is a high end store that carries organic products, perfect fish, gorgeous looking vegetables, and all sorts of products that our parents would have looked at & laughed. Why pay 100% more for chicken? Their prepared dishes are tasty & expensive. For me it is more a splurge rather than an every day experience

When I was in LA down near the beach I went to their newest super store. It was huge. They had rows & rows of hot dishes, sushi bars, etc. I looked over and their was one guy "grazing" in the buffet line. You get the image.

I can't imagine that store in downtown Detroit. Of course there are nice areas, but it makes me wonder how are they going to keep the mouchers & looters out?

Besides Food Stamps at Whole Foods?
Edited by Baldo, May 21 2012, 03:52 PM.
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wingedwheel
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For most of the fruit, vegetables, canned and boxed goods, and meat you are better off going somewhere else. But for spices, oils, balsamic vinegars, and other odd items they do a good job. That is depending on the size of the store. But I agree that it is really more of a splurge than an everyday thing.

The thing I found interesting is that there is a number of Whole Foods in the suburbs around Detroit already. Don't see why this location was needed. I guess on the bright side they can move stock to other stores if it doesn't sell well and also understock this location to keep all the waste down.
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Baldo
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"The documents, obtained by the Chaldean News under the Freedom of Information Act and provided to Crain's, show that Whole Foods is asking for $4.2 million in city, state and federal incentives to open a store in downtown Detroit.

According to the exchanges, the 21,000-square-foot project is expected to get $1.5 million in local and community foundation funds, $1.2 million in federal tax credits under the New Market program and $1.5 million in state incentives."

http://happyfrogdetroit.com/ron-williams/blog/taxpayer-money-whole-foods-mistake


It isn't just a part of an incentive package that includes $4.2 million in state and local funds. Whole Foods get the entire 4.2 million.

Unbelievable! What are we doing subsidizing a very expensive grocery store for midtown Detroit.

I smell Michelle Obama is this. Money doesn't matter to the Queen, as long as it is somebody's else.
Edited by Baldo, May 21 2012, 04:11 PM.
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Mason
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Holding my breath for the Media to report that a Whole Foods Breakfast bar costs 15 times what it costs to make breakfast at home.


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kbp

That's somewhere near $200/SF of that FREE MONEY.

Unless there are hands out for some landowners getting more than their property is worth ....about nothing there ...they're almost paying them to build the store.
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Baldo
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Like I said I like Whole Foods, but wowser do they take a bite out of your wallet.

Here's is AnnArbor's sale flyer. Looks like a perfect fit! Tofu et al

http://wholefoodsmarket.com/storespecials/CRB_specials.pdf
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