The Wildomar City Council approved the Quality Business Incentive Program to encourage more quality development within the city. The program identifies targeted industries such as entertainment, healthcare, hotels, industrial uses, restaurants, retail, and tourism. It also lays out a list of potential incentives that may be negotiated with qualified developers and businesses.
“This incentive program is a great way to tell the development world what Wildomar is looking to attract,” Mayor Joseph Morabito said. “We are always mindful of adding to our high quality of life here in Wildomar and this program helps us to map that out for the future.”
In order for a project or business to qualify as a “Quality Business” per this program, there are four main points that will be considered: Does the project add to the overall quality of life in Wildomar and the region; and significantly contribute to the tax base of Wildomar and/or the region; or provide jobs that may allow for area residents to work close to home; or add a product, service or experience not found elsewhere in the region.
“All of our businesses are important,” Economic Development Director Kimberly Davidson said. “But we must be deliberate in building out the rest of our city. We have some of the most beautiful raw commercial land that is left in Southern California and we want to ensure this is reserved for the highest and best use.”
The list of incentives includes fast-tracking the project development process, the possibility for a subsidy or reduction of fees, construction of off-site public improvements, rebate of sales tax or transient occupancy tax, sale or lease of property, the city preparing a specific plan for certain areas of the city.
“We are also open to ideas,” Mayor Morabito said. “Bring us your best dream project and, if it fits with our vision for Wildomar, then let’s figure out how we can make this a win-win for both sides.”