MENIFEE – Menifee’s Business Incentive Program was recently recognized at the Inland Empire Economic Partnership’s Red Tape to Red Carpet Awards, adding to the growing list of reasons the city is positioned to be the next hot-spot for development in Southwest Riverside County.
The inaugural event honored government organizations whose programs succeeded in supporting job creation while eliminating barriers to economic growth in the Inland Empire. Menifee’s economic development team was given the “runner-up” award in the Real Estate Redevelopment and Reuse category.
The Business Incentive Program was established last August as a catalyst to accelerate the pace of economic development in Menifee during this post-recession and post-Redevelopment Agency era.
The program flexibility and incentives to attract high quality businesses and amenities the community desires. The Business Incentive Program also aims to add jobs, to expand the city’s sales tax revenue and to positively impact economic development in Menifee. The program includes things like public-private partnerships, public financing, special districts, tax rebate agreements and other tools to attract businesses to Menifee.
“The Business Incentive Program has brought development opportunities to Menifee that may have gone elsewhere,” said Economic Development Director Jeff Wyman. “We’re thrilled to be recognized for this program that’s helping to bring jobs, amenities and sales tax revenue to our community. It’s also supporting the message that Menifee is open for business.”
Economic development is gaining momentum in Menifee with multiple projects under construction, including the Menifee Town Square featuring Applebees, Jersey Mike’s, and Five Guys Burgers. There are also future plans in review for a new shopping center at Newport and Menifee roads, and the city is also in negotiations on multiple entertainment venue projects.
The economic development team recently explained that Menifee is “Open for Business” during a real estate brokers’ symposium for Southern California commercial brokers/developers. The city’s commitment to improving infrastructure and traffic circulation, along with the community’s desirable demographics and pent-up demand for retail, dining and entertainment amenities, are just some of the reasons Menifee is positioned to be the next hot spot for development in the region.