SITE SELECTION PLANNING GUIDE, pt. 1
A State-by-State Directory of the Nation’s Best Economic Development Opportunities
April 7th, 2016 | Written by GT Staff
That growth, and the need to strategically position in areas nearer to the ports and airports that can access the global marketplace, means that exporters are going to have a greater, more frequent need for new supply-chain space.
As you plot your next facility, we’ve created this two-part Site Selection Planning Guide as the most direct summary of the best each state has to offer.
Source: http://www.globaltrademag.com/site-selection/site-selection-planning-guide-pt-1
WHY ARIZONA?
Sandra Watson, President and CEO, Arizona Commerce Authority
Arizona’s Southwest location, adjacent to two of the world’s largest economies— California and Mexico—gives our state incredible advantages for manufacturing and exporting.
As labor and material costs rise in places like China and Asia, Mexico’s “re-shoring” resurgence presents opportunities for Arizona companies.
Arizona's low cost of doing business, streamlined regulations and lack of natural disasters are also attractive to advanced manufacturers.
And it’s no secret that modern manufacturing technology requires a highly skilled workforce. Arizona is well-prepared in this respect, producing engineering, tech and business graduates through the more than 360 manufacturing-related programs offered at our local universities, community colleges and technical schools.
STATE PROFILE:
Population: 6.75 million
Corporate Tax Rate: 5.5%
2015 Export Total: $22.56 billion
Right To Work State: Yes
WORKFORCE: Labor Force: 3.16 million
High School Diploma or Higher: 85.9%
Bachelor’s or Higher: 27.1%
Graduate Degree or Higher: 10%
INFRASTRUCTURE HIGHLIGHTS:
1. I-10
2. Phoenix Sky Harbor International Airport
3. Port of Tucson
Small and medium-sized manufacturers can take advantage of RevAZ, Arizona’s Manufacturing Extension Partnership center created through a joint venture between the Arizona Commerce Authority and the National Institute of Standards and Technology.
Along with aiding Arizona-based manufacturers with attracting and retaining a strong workforce, RevAZ helps companies grow their in-state supply chains, leverage technology to stimulate business growth and conduct client assessments.
One of the RevAZ program’s most popular offerings is ExporTech, a nine-week program that gives manufacturers a crash course in exporting through group workshops and individualized coaching sessions; logistics, export compliance and international market identification comprise some of the key subjects covered at ExporTech.
Also drawing manufacturers to Arizona is the state’s foreign trade zone (FTZ) tax incentive, which provides a reduction of up to 72.2 percent in state real and personal property taxes for companies located in an FTZ.
Businesses fitting this criteria also enjoy duty-free zones, shorter transit times and a lack of storage time-constraints.
Arizona further incentivizes manufacturers through nonrefundable Renewable Energy Investment and Production for Self-Consumption income tax credits.
Qualifying companies must invest at least $300 million over a three-year period in new, renewable energy facilities in Arizona that generate energy for self-consumption using renewable resources.
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