>"In an episode of the Strong Towns podcast, [Stacey Mitchell, co-director of the Institute for Local Self-Reliance] explains how companies like Walmart or Target convince local officials that they’re bringing jobs and financial benefits to the area often in exchange for tax breaks and subsidies to cover the cost of land or construction. Unfortunately, many local governments are too quick to take the bait."

>"ILSR also discovered that large corporations benefit from tax loopholes, enabling them to avoid paying income taxes in about half the states they operate in. Meanwhile, small businesses don’t have that luxury—they pay taxes on 100% of their earnings."

>"This uneven playing field places local businesses at a disadvantage, as they are required to bear a higher tax burden than their corporate competitors. A similar dynamic plays out on the federal level, where corporations may operate in part through shell companies based in tax havens."

Those were all taken from the last 4 paragraphs of the section under the heading "The Big Box Swindle" (the first section after the introduction).

There are, of course, drawbacks of only have a handful of highly efficient businesses led by a handful of people. While buyers get lower prices (at least initially), they also lose more and more leverage in the marketplace and are exposed to risks other than higher prices.

For a local economy, it matters if the store owner lives and spends their money in town, or lives somewhere in NYC or China.