Editors note: This is an updated version of the op-ed published in the March 12 issue.

We announced plans last month to open a 33,000-square-foot Wal-Mart Neighborhood Market on the ground floor of a senior housing complex in downtown Los Angeles. The store will be about one-fifth the size of our traditional one-stop-shop locations, and will offer fresh fruits and vegetables; meat and dairy products; frozen foods; dry groceries; pharmacy, health and beauty products; stationery and paper goods; and pet supplies.

We look forward to revitalizing an empty space in downtown and establishing a new destination for affordable groceries that will benefit residents who live and work in the surrounding area. What’s more, our store will provide employment opportunities in the community.

So far, the majority of local stakeholders agree.

We have received strong support from business leaders such as Gary Toebben of the Los Angeles Area Chamber of Commerce, Carol Schatz of the Central City Association, Mary Leslie of the Los Angeles Business Council, Jorge Corralejo of the Latino Business Chamber of Greater Los Angeles and Nicki Ung of the Chinese Chamber of Commerce.

Community leaders including Lisa Baca of the Greater Echo Park Elysian Neighborhood Council and George Yu of the Chinatown Business Improvement District recognize the need for development in this area of the city and see our store as a magnet for future real estate growth. They are increasingly concerned about the negative ripple effects that vacant buildings can produce – crime, blight and decreased foot traffic for nearby businesses – and think Wal-Mart can help spark a turnaround for Chinatown and downtown.

Additionally, local residents here have sought more grocery options since beginning of the downtown revitalization. While there are several ethnic food options in the neighborhood, the closest full-service store is more than a mile away. Our store would complement the existing businesses in the area and help customers who are currently inconvenienced by having to travel outside their neighborhood for the fresh food they need for their family.

We believe we have a responsibility to respond to what our customers tell us they want and need. For example, our healthier food initiative was designed to make food healthier and healthier food more affordable. As part of that effort, we are reformulating thousands of everyday packaged food items, making healthier food choices more affordable, providing solutions to address food deserts by building stores and increasing support for nutrition education programs. Just recently, we developed a front-of-pack label that will give our customers an easier way to identify healthier food.

Finally, our new store will create about 65 jobs, delivering an added economic boost to the area. We’re proud of our jobs and think they are among the best in all of retail. Our average hourly full-time wage in California is $12.69 an hour, 58 percent above the state’s minimum wage, and the majority of our work force is full time. Importantly from a career perspective, nearly 75 percent of our store management joined the company as hourly associates; in 2011, more than 161,000 hourly associates received promotions.

From a benefits perspective, we currently insure more than 1 million people nationally and our most popular plan provides quality coverage for just $15 per pay period. Eligible associates receive an annual incentive based on the company’s performance and those who contribute to our 401(k) plan receive a dollar-for-dollar contribution from the company for up to 6 percent of their pay.

Bottom line: Our wages and benefits are competitive, and we’re proud of the jobs we’re creating in communities like Los Angeles.

We look forward to continuing in our role as a good corporate neighbor in the city of Los Angeles for years to come and look forward to greeting the thousands of downtown customers who will visit us when we open for business.

Steven V. Restivo is senior director of community affairs for Wal-Mart Stores Inc.