City Council Approves Sales Tax Incentive Deal With Cabe Toyota
May 25, 2011 Leave a comment
by Tiffany Rider, Staff Writer
The Long Beach City Council on May 10 approved long time auto dealer Cabe Toyota for the city’s sales tax incentive agreement program. The program allows businesses which expand or remodel, and which generate above $5 million in taxable sales, to share up to 50 percent of the sales tax generated in excess of a predetermined sales tax base.
The dealership, which opened in 1966 and employs more than 80 people, requested support from the city in order to remodel and expand its operation at 2895 Long Beach Blvd. The expansion is expected to cost at least $3 million.
