Raleigh, N.C. — Wal-Mart has decided not to build a Supercenter in southeast Raleigh.

The news came as a big disappointment to people hungry for an economic boost in the area. Compared with exploding growth in other parts of the city, southeast Raleigh has seen little.

"Southeast Raleigh is being left out in the wilderness, so to speak," said resident Dwight Spencer.

Wal-Mart bought 25 acres of land on the corner of Sunnybrook and Rock Quarry roads with plans to build a new store that would employ 400 people.

"We were looking at Wal-Mart as a hope," Spencer said.

"We bought the land and were intending to build,” Wal-Mart spokesperson Tara Stewart said.

After two years of planning, however, Wal-Mart called off the deal. The retailer said it was due to financial cutbacks.

"I am very disappointed. I am very let down," Spencer said.

"It was Wal-Mart. We want to reiterate that southeast Raleigh is a good place to do business," Stewart said.

Wal-Mart is making some rollbacks. The company planned to open 270 new stores nationwide this year. To strengthen sales and better their existing locations, Wal-Mart decided to cut back to 140 new stores. The southeast Raleigh location did not make the list.

A Wal-Mart spokesperson said the retail chain plans to keep the 25 acres and could build there later.

"I guess it killed the spirit to some degree, but we will come back," said Raleigh Council Member James West, who represents the area.

Wal-Mart plans to help disappointed residents in the area by offering programs like job-fairs for employment at its other locations.