PHOENIX — The city of Phoenix is aiming to lure more science and technology businesses by using incentives, city officials said.
“Our future is dependent upon attracting and retaining a greater concentration of science-, engineering-, technology- and innovation-based employers that employ quality talent,” said Bruce MacTurk, deputy director of the city of Phoenix community and economic development department. “The city strives to be the best in class when it comes to being a lower-cost, business-friendly, customer-service driven community of choice, with a large, rapidly growing and diverse workforce.”
The city provides workforce development and technical assistance programs to businesses in order to reduce costs, according to MacTurk. These programs not only reduce cost, but also help to expand their markets, causing many businesses to move to Phoenix.
“Within Phoenix alone, over 40 companies have relocated to our city over the past few years,” MacTurk said. “These are wealth-generating companies, employers that primarily export their products and services outside of our city and region.”
Though the city is involved in the expansion of the Phoenix business sector, the Greater Phoenix Economic Council is responsible for a vast majority of out-of-state businesses relocating to Phoenix, according to Kedrick Ellison, project manager for the city’s Community and Economic Development Department.
“They receive money from municipalities to look at the region that we have,” Ellison said. “That’s their focus.”
According to the Greater Phoenix Economic Council website, “Arizona frequently passes additional measures during its legislative session to help promote a business-friendly environment.”
Among the incentives created are data center tax exemptions on equipment and construction, a 75 percent tax reduction for foreign trade programs, and a research and development tax credit.
The Arizona Commerce Authority, another development organization that aims to strengthen and expand Arizona’s economy, helps businesses who want to start or relocate to Phoenix by offering many of the same programs GPEC does, while also offering its own distinct programs and incentives.
One of the ACA’s distinct programs is its Small Business Technology Transfer Program. The STTR helps businesses by providing them with funds from organizations such as the Department of Defense and the National Science Foundation for businesses that conduct research.
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments
- Here’s why Gaydos went tankless with his water heater
- 12 things to watch before the Oscars
- Bocce ball and basketball: How you can help Arizona's Special Olympics athletes
- Tips on building the best wine room in Arizona
- Avoid the nightmare: 6 tips to choose a great contractor
- Breast cancer: Improved testing and treatments means more survivors
- Best and worst of Super Bowl commercials
- Failed back surgery: New hope for patients living in pain
- Ticking time bombs: Telltale signs your water heater is about to explode
- Reading glasses could be a thing of the past
- 6 cool ways teachers are using technology in the classroom
- Emerging tech jobs in Phoenix and how to get one in 2017
- 4 top treatments athletes use for pain
- Emergency! What to do when bathrooms flood
- Operation Santa Claus needs holiday help
- This college bowl season is likely to be epic
- Arizona kids in crisis: How you can help
- 11 holiday classics for the ultimate movie marathon
- New treatment offers hope for migraine sufferers
- 11 stadiums to watch your favorite football team
- Shopping for a TV? Best models for 2016
- The new beer pairing guide for holiday foods
- Avoid this holiday plumbing disaster in your home
- 7 tips to avoid holiday weight gain
- New treatments mean better prostate cancer survival rates
- 5 of the scariest things found in drains
- 6 tips to create the best family movie night