PORTLAND, Ore. (AP) — Trader Joe's has dropped plans to open a grocery store in Portland, Ore., after critics said it would promote gentrification, displacing residents and perpetuating income inequality.
The Oregonian reports (http://bit.ly/1fTLtfy) that a statement released Monday said Trader Joe's was taking a simple approach. As the statement put it: "If a neighborhood does not want a Trader Joe's, we understand, and we won't open the store in question."
The Portland Development Commission had offered the grocery company a $2.4 million incentive to open the store. Critics, including the Portland African American Leadership Forum, said it was in one of the most rapidly gentrifying ZIP codes in the nation.
Information from: The Oregonian, http://www.oregonlive.com