A fireworks celebration marked the start of the revival of a retail complex at the foot of the Mission Lakes Country Club in Desert Hot Springs, a Press Enterprise report stated.
Marketplace Plaza houses a five-star gym & Fftness center, and a realtor’s headquarters. During the weekend, however, the mall served as the setting for a fireworks display, and a concert event headlined by top performers and catered to by local continental restaurants.
The event was the brainchild of businessman Suresh Shah who enlisted local businesses to help organize it. About $8,500 were spent for the fireworks display.
“We’re already planning next year’s event,” Shah enthused.
The Santa Barbara-inspired Marketplace Plaza, now owned by Shah, went bankrupt during the recession. It was supposed to serve as a community mall to new households that were formed in the area due to housing starts. Then the Great Recession happened.
Shah bought the mall in 2010 and is currently negotiating several deals with potential tenants. He told Press Enterprise that he sees the retail center adding 100 jobs in the near future.
“It was very good for the community for a couple of reasons,” Desert Hot Springs Chamber of Commerce chairman John Soulliere told Press Enterprise.
“It wasn’t just that they went out of their way to do this event, but the community was very excited to see that this new retail center is open. It has brought the hope of economic development, and the sense that new sales tax revenue will begin to come into the city,” Soulliere said.
The event drew 26 new 5 Star memberships, according to Press Enterprise.
Local economies are still struggling to spur business growth almost six years after the 2008 global financial crisis. has ended. In relation, salary rates, a key indicator of economic recovery, are still lower than what Americans were earning back in 1972 and 1973, Pulitzer prize-winning reporter David Cay Johnston noted in an Al Jazeera report.
“The average hourly pay of $20.13 last year was smaller than in 1972 and 1973. Back then, the inflation-adjusted hourly average was about 6 percent higher. In other words, people in 2013 worked 52 weeks to make what they would have made in 49 weeks back in 1972 and 1973,” an excerpt from Johnson’s article revealed.
Latest jobs data from the United States, however, revealed that the U.S. economy added 288,000 jobs in June, Market Watch reported.
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