March 4, 2016
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.