March 4, 2016 Comments Off on Moreno Valley Promotes Growth, Attracts New Auto Dealer Views: 432 California News, Inland Empire

Moreno Valley Promotes Growth, Attracts New Auto Dealer

Moreno Valley is getting its first new auto dealership in 12 years. Hyundai of Moreno Valley plans to open this fall at Stoneridge Towne Center on a 4.9-acre parcel located at 27500 Eucalyptus Ave., near the Moreno Valley Auto Mall.

The city approved a tax rebate agreement with the franchisee, M.R.S. Brown, provided 30 percent of its workforce is hired locally.

Moreno Valley officials estimate the dealership will generate $400,000 in sales tax annually. The city expects to realize $1.87-million over four years, when property and utility users taxes and business license fees are added. The dealer will get a sales tax rebate of $240,000 over the first four years.

Read More at Riverside Press Enterprise

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