In today’s fast-paced global knowledge economy, Arizona is focused on cultivating and sustaining specialised areas of expertise and driving economic growth. In the current global economy, advances in technology, advanced manufacturing, aerospace and defence and renewable energy are positioning Arizona as a global leader.

ACCESS TO MAJOR WORLD MARKETS
Arizona is strategically located in the south west of the United States, immediately accessible to three of the world’s largest economies – California (8th), Mexico (14th) and Texas (13th). With a steady climate, lack of natural disasters and an intricate transportation infrastructure, Arizona is perfectly positioned to drive corporate growth.

Major interstates, freeways, transcontinental and interstate railroads connect Arizona directly to major markets throughout the south west region. This infrastructure provides a highly effective flow for people and products, including one-day truck haul routes between Arizona and major markets. Trucks originating in Arizona are capable of reaching 65 million people in a one-day drive.

Arizona also has a robust airport network, including Phoenix Sky Harbor International Airport, one of the largest in the world, and Tucson International Airport. Together, carriers serve more than 103 cities with non-stop flights, including a daily service from Phoenix to London Heathrow together with other international destinations.

ADVANCING TECHNOLOGY
With a focus on innovation, research and development and next-generation advancements, Arizona is poised for continued growth and strong economic performance in high tech industries. Major employment sectors include electronics, semiconductor manufacturing and aerospace and defence. Arizona’s growing portfolio of large technology companies includes Intel, Microchip, Freescale, Honeywell, Raytheon, JDA Software, Go Daddy and more, as well as a pipeline of emerging technologies stemming from state universities. Arizona is an ideal base for companies that must reach a global client base. That access is one reason Avnet, one of today’s largest business-to-business distributors of electronic components and systems, moved to Phoenix.

With a median age of 37, and world-renowned university systems, Arizona offers a high-quality, young and talented workforce – ranked second in the nation – that supports the research and development necessary to keep up with accelerating product cycles and global competition.

COMPETITIVE BUSINESS ADVANTAGES
Arizona maintains a business-friendly regulatory environment that repeals overly burdensome government regulations, streamlining corporate expansion. The Competitiveness Package provides the most sweeping economic development legislation seen in decades, demonstrating Arizona’s commitment to corporate success:

• The lowering of Corporate Income Tax rates from 6.97 to 4.9 per cent from 2014 to 2017
• State sales tax rate of 5.6-9 per cent
• Right-to-work state (low union activity)
• Low workers’ compensation insurance rates
• No inventory tax
• Favourable unemployment insurance

INCENTIVES AND TAX CREDITS
• The R&D programme now offers up to a 34 per cent Arizona income tax credit if R&D is made in conjunction with an Arizona public university
• Private Activity Bonds – tax-exempt bonds for construction; purchase of equipment for manufacturing operations; qualified real estate development etc
• Renewable Energy Tax Incentive Program – those businesses making new, qualifying investments in manufacturing and/or headquarter operations are eligible for both a refundable state income tax credit and a significant property tax reduction
• Arizona Job Training Program – a job-specific reimbursable grant programme that supports the design and delivery of customised training plans for employers
• Quality Jobs Tax Credit – provides tax credits of up to $3000 per year for three years for each new job

STRATEGIC LOCATION BENEFITS
Arizona has designated Foreign Trade Zones, special zones created to reduce the operating costs for import/export businesses, as well as Military Re-use Zones, where incentives are available to aviation and aerospace companies creating new jobs and making capital investments within designated zones.

SUPERIOR QUALITY OF LIFE
Opportunities abound in Arizona, from the bustling urban cores to serene rural settings. The state is internationally renowned for its unsurpassed beauty, its pleasant desert winters, varied recreational activities and eclectic cultural opportunities. Taken together, these amenities provide a quality of life in Arizona unexcelled by any area of its size in the world.

More than ever, business leaders are recognising Arizona as a prime location for expanding innovative companies.