Walmart Supercenter to open this fall

LYNN HAVEN, FL - Construction at the new Walmart Supercenter is on schedule and scheduled to wrap up in October.

"Pending construction deadlines, that's the range we're shooting for," said Amy Wyatt-Moore, a Walmart spokeswoman.

As construction on the 38.5-acre site progresses, the Panama City Walmart on 23rd Street is preparing to close its doors. After 22 years of business, the store will close on the evening before the new Walmart opens.

Most of the 250 employees from the 23rd Street Walmart are planning to transfer to the supercenter, said Wyatt-Moore, but the supercenter will bring 75 new jobs to the area.

The store is accepting applications, which can be filled out online or in the 23rd Street store.

According to Stacy Slater, spokeswoman for Centro Properties, the owner of the 23rd Street plaza, the 23rd Street space will be available for a tenant by the end of the year. Several national and regional retailers have expressed interest in the property, Slater said, but the company is not releasing any names until a lease is signed.

Finding a tenant for the old space is a big concern for Centro Properties, local officials and surrounding retailers.

"This is a big concern of mine, but I'm trying to remain positive," said Panama City Commissioner Billy Rader, whose district includes the 23rd Street location.

In the last fiscal year, the 23rd Street Walmart contributed more than $500,000 in sales tax revenue to Panama City. As local officials work on the budget this summer, several are wondering how those losses will affect next year's budget.

"I'm not in favor of raising taxes to offset the loss," Rader said.

Rader referred to the current economic climate as a financial crisis. Rader said he would consider using the city's reserves to cover some of the budget losses this year.

"The reserves are there and I think we would still have enough to cover the costs of major crisis, like a hurricane," Rader said. Rader and Centro Properties have been actively working to find a new tenant for the space.

"The city, especially Mr. Rader, has been extremely helpful in terms of helping us finding what the community would want and providing potential leads," Slater said.

Panama City Mayor Scott Clemons said he thinks the city should consider creating a position specifically dedicated to finding and attracting major retailers and businesses to the area.

As far as this budget season is concerned, Clemons was not sure about whether the city should increase taxes, use the reserves to cover some of the losses incurred by retail loss or consider other options.

"I wouldn't want to make a judgment about that until I know what the overall revenue for the city will be," Clemons said. 

Rader is hopeful a major retailer will move into the space and about the overall state of the economy.

"I think this economy will turn around, but I just don't know when," Rader said.

In the meantime, Rader said, the city will have to tighten its belt and ride out the economic storm. "We're going to miss Walmart, but when one door closes, another will open."