Schaumburg is famous for Woodfield Mall which brings in a billion or so in revenue for the Village but, here's the question everyone should be asking; How much did tax incentives, deferred lease payments, quickly approved construction permits, free electricity, water and sewage did Lowe's get for convincing Schaumburg officials of all the wonderful jobs and money Lowe's would bring in?
Meanwhile, a nearby ACE hardware on Negre and Plum Grove Road is owned and operated by a family that has lived in the Schaumburg area for years, do you think they received any assistance?
Well, this is the crack-like allure Big Box Stores exert upon Village officials. They come in with an easy smile and visions of big time tax revenues for a town and like addicts, Village managers bend over to accommodate them. Of course, Lowe's, Wal Mart, target and the rest of the Big Box Conglomerates can easily slide from friendly to menacing by threatening to just open up in a neighboring town.
And so these big box bastards undercut local small shops and, in the past, have even run at a loss for years because they know once they eliminate the small shops they can raise prices. And if that tried and true technique should fail, say because of a Republican Recession,
“The sales numbers missed estimates,” said Abby Buford, a spokeswoman for Lowe's. “Sales were well below projections and they did not improve over time.”Then they simply leave and leave a gaping monstrosity of a building vacant in your town.
And they call it Capitalism, because they Capitalize.