Don't Subsidize Big Boxes at Local Shops' Expense

Sifting though the postmortem news of Borders Group’s demise, I came across a local newspaper story about a California town that had spent $1.6 million to lure a Borders bookstore to a local shopping center. According to the paper, government officials in Pico Rivera in 2003 agreed to pay part of a new Borders store’s operating expenses by providing a $10,833 monthly subsidy for the next 15 years.

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