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Oakland Using Enterprise Zone to Create 85 New Jobs

The City of Oakland published the following in a press release:

The Oakland Redevelopment Agency has announced that two new auto dealerships will be coming soon to Broadway Auto Row. Nissan of Oakland will open a 20,000-square-foot facility at 2855 Broadway and Infiniti of Oakland will open a 40,000-square-foot-facility at 2735 Broadway. The new dealerships will feature Infiniti’s luxury cars and SUVs, Nissan’s full line of new cars and trucks including the fully electric Leaf, used vehicle sales, parts and repair service.

The new ventures, lead by seasoned auto dealer Mike Murphy, represent a significant investment and belief in Oakland. Murphy’s purchase of one building and a decade-long lease on the other demonstrates his commitment to and belief in Broadway Auto Row. Murphy has owned neighboring Oakland Volkswagen for more than a decade. “Given the continued success of our Volkswagen dealership, we felt this was an excellent opportunity to bring the Nissan and Infiniti brands back and attract more potential car buyers to Oakland,” said Murphy.

Nissan of Oakland and Infiniti of Oakland expect to hire up to 60 employees in its first few months and be fully staffed with up to 85 employees by March 2012. As with other business attraction efforts, the City of Oakland’s Enterprise Zone (EZ) staff is working with Murphy to ensure both dealerships can enjoy the hiring tax credits and other benefits offered through the EZ program.

“The new Nissan and Infiniti dealerships are welcome additions to Broadway Auto Row,” said Gregory Hunter, Deputy Director in the Community and Economic Development Agency. “Oakland residents will have more car buying options that will keep their dollars in our community.”

In addition to providing employment opportunities for Oakland residents, the new dealerships are expected to generate $200,000 in sales tax and business tax revenue for the City of Oakland in 2012. Sales tax revenue flows into the City’s General Fund which supports recreation programs, libraries, fire and police services and other vital City services. In 2010, new and used motor vehicle dealers generated more than $3 million in sales tax revenue for the City of Oakland.

Nissan of Oakland and Infiniti of Oakland are the latest dealerships to open along Oakland’s venerable Broadway Auto Row following the opening of Bay City Chevrolet earlier this year. The return of the Nissan, Infiniti and Chevrolet brands corresponds to renewed growth in car sales. Automotive News reports U.S. light vehicle sales posted an 8 percent gain in August 2011.

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