One of the fastest-growing economies of the United States, Arizona features Fortune 500 and start-up technology companies. Perhaps your business is considering relocation, and even considering joining the good company of Boeing, Raytheon, Honeywell, CAE, Avnet, Intel, Amazon, Banner, TGen, Roche, ebay …why not reap the advantages of a competitive business climate and tax structure, our skilled, knowledge-based work force, not to mention Arizona’s world-class innovation, cultural, and scenic resources?
Arizona features 140,081 businesses, 2.3 million jobs, a population of 6.4 million with an average age of 35.9 years, and a median wage of $30,889.
Arizona has reduced taxes or passed legislation favorable to business for 13 consecutive years with less burdensome government regulations. The state boasts a low cost of doing business and low total payroll cost, with the lowest workers’ compensation and unemployment insurance rates in the nation. Arizona’s overall state and local tax burden ranks 9th in the country, with 8.5% of per-capita income going to taxes – compared to a national average of 9.7%.
Arizona, a right-to-work state, boasts competitive operating costs: accelerated depreciation, lower personal property taxes on equipment and machinery, reduced commercial and industrial property taxes, corporate income tax rate to 4.9%, and a 100% sales factor.
Arizona, strategically located in the southwest United States, sits within a one-day drive of 65 million people, surrounded by some of the world’s largest economies, including California (9th), Texas (13th), and Mexico (14th). Arizona features 2 major interstates and 5 freeways into Los Angeles, Mexico, and east toward Texas, two transcontinental railroads, and 10 intrastate railroads that provide rail freight service. Phoenix Sky Harbor International Airport, ranked 15th in the world for takeoffs and landings, serves more than 100 global destinations.
Arizona has access to one of the largest concentrations of science and technology students and graduates in the country through its large public universities — Arizona State University, University of Arizona, and Northern Arizona University. In addition, Arizona offers an excellent network of junior colleges, specialty universities, and vocational schools. Over 200 foreign companies have operations in Arizona employing 73,000 workers, with foreign direct investment estimated at $10 billion.
The Arizona Commerce Authority “spearheads the state’s efforts to attract new business and expand businesses already excelling in the state. It’s led by a group of the most formidable, visionary private and public-sector minds in Arizona, coupled with the most talented staff implementing the strategy. Engage with our experts today.”
Michael Coretz, of Tucson, Arizona – with over 25 years as a local commercial real estate broker with national and international networks – possesses expertise in representing businesses during relocation negotiations, incentive negotiations, and site selection. This fall, Michael is co-hosting with the Arizona Commerce Authority a visit of international site selectors (ITRAGlobal). To find out more, contact Michael through his website.