Propelled by the city’s economic development plan, which outlines a strategy to attract businesses and amenities such as restaurants and entertainment venues, the economic development team is in discussions with several movie theater development companies interested in locating in Menifee.
Leaving nothing to chance, the economic development team is also facilitating a real estate development deal with Los Angeles-based Regent Properties to secure a location for the theater in the Town Center development project. This recently approved project is a 142-acre, mixed-use development located west of Interstate 215 at Newport and Haun Roads. It will include shopping, restaurants and entertainment venues.
"Menifee has an economic development plan that is focused on the desires of our community and calls for more entertainment options and amenities for our residents," said City Manager Bill Rawlings. "We are delivering on this priority, and our community is enjoying new restaurant and retail openings in Menifee. Now our team is securing a dedicated location for a theater in the Town Center and is moving forward with discussions to bring a movie theater development to Menifee."
In addition to providing new amenities in Menifee, economic development outreach efforts create jobs in the community and generates revenue. Menifee has enjoyed a steady increase in sales tax growth attributed in part to economic development, realizing an increase of 12.7 percent from calendar year 2010 to calendar year 2011. The city is positioned to realize the same, or greater, sales tax revenue increase in 2012.
Sales tax revenue is one of the city’s primary sources of funding for important services like public safety, transportation projects, public works, beautification, parks and recreation. For a newer city, developing this revenue base is important to create short and long-term financial security.
"All of these great things happening in Menifee, including new restaurants opening, new retail businesses coming to town and a multi-screen movie theater slated for the Town Center, are possible because of our economic development plan,” said Economic Development Director Jeff Wyman. “As our economic development team builds momentum, we look forward to welcoming one of the several interested movie theater companies to Menifee’s economic development corridor along Interstate 215.”
For more information, contact Rob Johnson, Senior Manager, Community Improvement at email@example.com or (951) 672-6777.