From the Governor
“Arizona’s unparalleled business environment continues to result in more jobs and more opportunities for the citizens of our state…. A prospering economy directly benefits the people of Arizona. We remain focused on ensuring Arizona is the best state in the nation to develop new ideas and launch or scale a business.” —Gov. Doug Doucey
Grand Growth in the Grand Canyon State
Business is booming in Arizona, and a recent report from the Office of Economic Opportunity estimates the Grand Canyon State will add nearly 543,000 jobs through 2026. Amazon, Acronis, Valor Global and TEKsystems have announced expansions here in the past year, and Infosys will soon create an innovation hub in Phoenix that will hire 1,000 workers by 2023.
Qualified Facility Tax Credit: Offers a refundable tax credit of the lesser of: 10% of qualified capital investment, $20,000 per net new job or $30 million per taxpayer per year, for location of manufacturing or R&D headquarter facilities.
Quality Jobs Tax Credit: Offers a state income tax of up to $9,000 over a three-year period for each net new quality job.
R&D Tax Credit: Offers a nonrefundable income tax credit for basic research payments made to universities under the jurisdiction of the Arizona Board of Regents.
Arizona Job Training Program: Offers job specific reimbursement of up to 75% of eligible training expense for net new jobs.
Arizona Association for Economic Development: aaed.com
Arizona Commerce Authority: azcommerce.com
Greater Phoenix Economic Council: gpec.org
Southeast Arizona Economic Development Group: saedg.org
Arizona Regional Economic Development Foundation: aredf.org
Highlighted Program or Initiative
The Sustainable Economic Development Initiative of North Arizona aims to promote economic growth in the northern part of the state through business services, educational routine and policy.
- Amazon announced in May 2018 it will open a fulfillment center in Tucson, creating more than 1,500 full-time jobs.
- Cognizant announced in August 2018 it will open a regional technology and services center in Mesa and create 500 new jobs.
- Infosys announced in September 2018 it will open a technology and innovation hub in Phoenix and hire 1,000 workers by 2023.
- Valor Global announced in September 2018 it will expand operations in Phoenix and create 1,000 new jobs over the next 12 months.
- SeaCa Packaging broke ground in October 2018 on a $17 million manufacturing plant in Surprise. It is expected to create 65 jobs.
- Technology services provider TEKsystems announced in October 2018 it will expand its office in Tempe and hire up to 300 new employees in the next five years.
Six Fortune 500 companies are headquartered in the state:
“Since we first broke ground in Arizona over 10 years ago, we have found a network of support from community leaders to statewide officials, a dedicated workforce and fantastic customers…. We’re excited to open a new, state-of-the-art fulfillment center in Tucson and to continue innovating in a state committed to providing great opportunities for jobs and customer experience.” —Mark Stewart, Vice President, Amazon’s North America Operations
“We are strategically located in Arizona to take full advantage of all the resources the state has to offer. The expansion of our Tempe facility will bring hundreds of technical and nontechnical jobs to the community.” —Pete Clavell, Regional Director of Recruiting, TEKsystems
“Arizona is an attractive place to do business, with its strong infrastructure, emphasis on innovation, rich pool of talent and overall quality of life.” —Karen McLoughlin, Chief Financial Officer, Cognizant