Wal-Mart as economic engine

Remember all the anecdotal stories about Wal-Mart coming into a town and ending the dreams of a family owned hardware store, a fabric store, etc.? Now Wal-Mart has taken that concept and is standing it on its head. Here is a report that suggests Wal-Mart can help energize a depressed area of Indianapolis:

The chain builds a store, then pumps resources and money into surrounding local businesses. The Indianapolis Supercenter will go up near the old Builder's Square at 46th and Lafayette Road.
The nation's biggest retailer and state's largest employer, Wal-Mart has designated the Lafayette Square store part of its 'Jobs and Opportunities Initiative.'
"We'll fund local business development, we'll host seminars working with small communities and small businesses and we'll teach them how to leverage the benefits a new Wal-Mart Store can bring to the community," said Menzer.

And amazingly, some small businesses say it is all good.

"It will be great. It will help my business," said Hiren Patel, owner of Patel Brothers Grocery store. Patel hopes the new store will help attract more customers to his year old grocery, which specializes in Indian cuisine.

TK: There is never total approval for Wal-Mart in anything they do, and this is no exception. One grocery store merchant in the depressed area said Wal-Mart will likely shut him down.