Wal-Mart has announced a program to help small business succeed when the giant retailer opens up one of its stores nearby. The new initiative, Wal-Mart Jobs and Opportunity Zones, was announced by Wal-Mart CEO Lee Scott at the Newspaper Association of America's annual convention.

The program aims to “create more opportunities for small businesses to capitalize on the benefits of having a Wal-Mart store in their community,” the company said in a statement. Wal-Mart store managers will pick up to five local businesses per quarter to name as “Small Business Spotlights,” and advertise in local newspapers and free radio ads on Wal-Mart's in-store radio network. Best-practice seminars also will be held by a “Wal-Mart Business Development Team,” and an annual Wal-Mart Trends Report will be shared with the small-business community.

The first area to feature the Wal-Mart small-business partnership will be Chicago. Nine additional markets will soon be announced, the company said.