New Hyundai Dealership to Help Revitalize Scarlett Court and Bring in Tax Dollars
Dublin’s successful Sales Tax Reimbursement Program has landed another big win for Dublin – the new Hyundai dealership on Scarlett Court (near Dougherty Road and the East Dublin BART station). Hyundai opened their sales operations on Scarlett Court about two months ago after months of discussion with rainmaking Economic Development Director Linda Maurer and other City Hall officials about participation in the Sales Tax Reimbursement Program.
Hyundai will be making $670K of improvements to convert their property at 6015 Scarlett Court (which was a smaller dealership a few years ago) into a full-fledged dealership with additional sales and operations/service space. The Sales Tax Reimbursement Program will return a 1/2% credit to Hyundai on all sales over the next 5 years. This means that the Hyundai dealership’s owners will recover the entire $670K in renovations if they can bring in at least $134M of sales over the next 5 years.
The new dealership is a big win for Dublin on many levels:
- Jobs – the newly hired employees will reinvest their money in Dublin creating greater economic well-being for all businesses and residents.
- Tax Revenue – Hyundai will bring in net sales tax revenue of at least $50K/year to the City of Dublin (likely to be much more than that). These funds can be used to fund emergency services, library resources, parks, public works, etc.
- Aesthetics – the renovations will be a big first step in the beautification of Scarlett Court. Please click here to see the Scarlett Court Design Guidelines for a vision into the future of Scarlett Court.
The new Hyundai dealership in Dublin joins Graybar Electric and New Home Inc. as the pioneering success stories of the Sales Tax Reimbursement Program.
8:39 AM on November 24th, 2009
Wow, this program seems to be quite successful. Good job!