Governor McDonnell Announces $27 Million Investment in City of Newport NewsJune 27, 2013
UPDATED: Governor McAuliffe Announces $100 Million Investment in City of Newport NewsJanuary 7, 2015
April 30, 2014 — In another example of how Great Things Are Happening in Newport News, Governor Terry McAuliffe has announced that the City Center at Oyster Point Entertainment District has been certified for financing through Virginia’s Tourism Development Financing Program. The total capital investment for the Entertainment District Tourism Project is $26 million.
City Center at Oyster Point is already home to a diverse mix of retail, office and residential units, along with several outstanding dining facilities. The Entertainment District includes two existing restaurants, Toby Keith’s I Love This Bar & Grill and Tucanos Brazilian Grill. Plus, opening soon will be a 12-screen movie theater, Paragon City Center 12, and its two restaurants Neo Kitchen + Bar and My Pi Pizza along with Travinia Italian Kitchen and Wine Bar. The designation as an Entertainment District Tourism Project qualifies some businesses for temporary tax relief. It’s estimated that 525 jobs will be created as a result of the recent certification.
In addition, newspaper and website operator Daily Press Media Group is moving its headquarters to the area this fall. With over 150 employees, the Daily Press Media Group will bring an influx of daytime activity to City Center, while the new Entertainment District will bring more vibrancy to the after-work and weekend hours.