danielx wrote:
The previous post got me thinking. Here's something to sink your teeth into.
Let's assume that when Home Depot says that this store will mean a million dollars in tax revenue to Los Angeles, they are talking about the 1.75% going to the City of Los Angeles and Los Angeles county - combined.
For 1.75% to equal one million dollars ($1,050,000 actually), that store would need to generate $60,000,000 in annual revenue. That's a lot of nails and two by fours.
Then I visited their website to see how proud they are about the "community support" these stores provide. It says they typically put $3,000 into the community in the first year... and $1,200 into the community in subsequent years.
A couple of calculations later, we can clearly see that this generous support breaks down like this:
$3,000 = 0.005% of their annual revenue
$1,200 = 0.002% of their annual revenue
Gimme a break!
Hey, Joe! Dan's calculations would be an eye-opener for website visitors.
Like foothillnative points out, what about estimating the potential loss revenue from local businesses that would be shut down by HD?
Hmmmmmmm.... is there any way to estimate how much sales tax revenue from general merchandise is already being lost each year because community members have to spend those dollars in Glendale, Burbank, and Pasadena?
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