A decade after receiving city financing to open at Mondawmin Mall, Target will be shutting its doors there this winter.
The company announced yesterday that it’s decided to close its store in West Baltimore on Feb. 3, 2018. Spokeswoman Erin Conroy confirmed the news in an email to Baltimore Fishbowl, suggesting the axe was ordered due to poor performance.
“We have a rigorous process in place to evaluate the performance of every store on an annual basis, closing or relocating underperforming locations as needed,” she said. “Typically, a store is closed as a result of seeing several years of decreasing profitability. This decision was not made lightly.”
All eligible employees are being given the option to transfer to other stores, she said. Target has 11 others in the surrounding area, according to its website.
Unsurprisingly, people are upset. Target has served as the anchor store for Mondawmin Mall since it first opened in 2008 during a revitalization campaign for the shopping center.
The city sweetened the deal by offering the company $15 million in tax incentives, according to the Baltimore Development Corporation’s 2008 annual report.
Del. Nick Mosby, whose current state district and former council district include Mondawmin, called the company’s decision “corporate greed at its finest” on Twitter, asserting that the store is profitable – just not profitable enough.
Corporate greed at its finest. Decreased profitability means you are still in the black just not as far as your stock holders would like. @Target never came to city or community regarding concerns.
— Nick Mosby (@Nick_Mosby) November 8, 2017
He also pointed out that Target owns the building and parking lot, which leaves questions surrounding the property’s future, and the city with little negotiating power.
“Corporations have a right to make the best decisions for the shareholders but they also have a duty as good community partners,” he said. “Especially since the community helped finance this deal.”
This story has been updated with comment from Target.
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