STANWOOD – The numbers are in.

Folks on both sides of the testy Wal-Mart debate in Stanwood have been waiting for a consultant to turn in a study on how the huge retailer would affect the local economy and tax base. The study is now available to the public.

The report found that allowing a large retail store to be built at the northeast corner of Highway 532 and 72nd Avenue NW would have “major repercussions” – some good, some bad.

A big-box store such as Wal-Mart would bring Stanwood a net increase in retail sales of $24 million to $30 million in the first five years, according to the report. That would mean at least $187,000 more a year in sales tax revenues, or about 5 percent of the city’s current general fund.

A Wal-Mart also would add about 200 jobs, according to the report.

Those numbers are good news for the city and Wal-Mart, but bad news for some existing businesses, the report said.

The consultants, Huckell Weinman Associates of Kirkland and Chase Economics of Tacoma, suggest in the report’s conclusion that city officials should carefully weigh the costs and benefits.

“No doubt the big-box mass manufacturer will increase the property tax base and increase sales taxes and increase employment,” the report said.

“These are indeed worthy goals, but one should keep in mind net increases – that is, the big-box manufacturer may merely capture sales from existing businesses in the community.”

The city commissioned the report in January in response to an outcry last fall that Wal-Mart or some other large retailer might be interested in the property near 72nd Avenue NW.

The developer, Vine Street Group of Arlington, asked for a zoning change. Opponents say they have gathered at least 3,000 signatures against the rezone.

Chris Satterlund and Kristine Kaufman, co-owners of Snow Goose Bookstore, started the petition. The $187,000 annual boost to city revenues did not impress them.

“We were laughing about that,” Kaufman said. “The city could buy a couple of metal detectors and go down to the park and shake down more money than that.”

To Mayor Herb Kuhnly, the increase is not so easy to scoff at.

“Even a 5 percent boost in our revenue is a pretty good-sized item,” said Kuhnly, who leans in favor of the rezone.

The mayor said the study solidified his feeling that the city needs a general merchandise store. The report notes that car dealers, general mechandisers and clothing stores are lacking in the immediate area.

Most other types of retailers do well at drawing people to town, according to the report.

Kaufman said the bookstore might be able to survive direct competition from Wal-Mart, but could still stumble if neighboring stores close.

“There’s a perception there if you’re on a street with three boarded-up businesses,” Kaufman said.