Boasting a growing talent pool, co-working spaces, and a strong entrepreneurial mindset, downtown Phoenix continues to grow as a startup hub. Areas such as the warehouse district have received the most attention and are attracting companies such as DoubleDutch, a San Francisco based tech startup. The city of Phoenix claims this is only the beginning and is working on creating an Innovation District to keep the ball rolling.
Tucson and its entrepreneurial community have made great strides with Startup Tucson and other organizations such as InnovateUA, but still need to be keeping close watch and learning from our neighbors to the north. Read more here.
Arizona lawmakers are in a heated debate over the future of solar power in our state. The pro solar side is pushing an initiative called Arizona Solar Energy Freedom Act, which will preserve the system of net metering. Net metering provides solar customers with excess power credits, which in turn saves them money. The initiative requires receiving 225,963 signatures by early July to be placed on the November ballot to amend the state constitution.
The opposing argument comes with support from utility companies and would change the net metering system and in turn make solar less appealing financially. Reasoning behind opposition to pro solar is the thought that the act could raise prices for people who don’t have solar.
It seems strange that a sunny state such as Arizona would limit the expansion of solar power, but what does it mean financially to the greater community? What are your thoughts?
Read more about here.
The Tucson mayor and city council have approved an agreement with the Regional Transportation Authority (RTA) to fund the Broadway Improvement Project. The city will accept $18 million and begin buying properties along Broadway between Country Club and Euclid for the six-lane widening project.
The city has already put in $4 million on planning and design studies, which have been going on for years now. The original plan was to add eight-lanes rather than six, and has left Broadway property owners in limbo waiting for decisions to be made. The project, which is set to begin 2017-2018, will greatly increase downtown accessibility. Read more here.
InHouse, a local real estate software startup and friend of Tango has recently launched the national beta of their online marketing platform. The platform provides residential real estate agents with on demand Facebook and print marketing materials that consistently showcase their brand. Agents are able to login with their MLS credentials and try the platform at no cost.
InHouse launched this past May from the McGuire Entrepreneurship Program in the Eller College of Management and has decided to stay in Tucson and grow their company out of Connect Coworking downtown. With a low cost of living and growing startup community, Tucson needs to be doing everything they can to attract more and more young companies. Read more here.
Something cool in the tech world happened in Arizona and it included Tucson!
Thanks to the Arizona Commerce Authority, this past week about 51 technology leaders from 24 countries made their way to Arizona with the hope to collaborate and form business partnerships. While in Tucson the group visited the mirror lab at the U of A, Biosphere 2, the U of A’s College of Medicine, Raytheon Missile Systems.
Tucson has the world-class technology, now we need more world-class technology companies!! Read more about where else they visited here.
During the recession, corporate tax cuts were enacted to stimulate business growth and attract corporations and their high-paying jobs to Arizona. Although these tax cuts were set with good intention, by the time they are fully implemented they will leave the state with $350 million less each year.
Although there is considerable debate for both sides, the article forgoes mentioning whether or not the tax cuts have actually helped bring corporations to Arizona. Read more here, and let us know what you think.
Kudos to our good friend Dewey Manzer and the team at Instant BioScan on being acquired by Mettler-Toledo International – a world class company specializing in the production of scales and analytical equipment.
The Instant BioScan operation and 15 employees will remain in Tucson as part of its Thornton division. The deal will accelerate the rollout of the local technology and greatly increase Tucson’s exposure to multinational companies.
Read more about the BioScan acquisition and its impact on Tucson here.
Often neglected, Canada plays quite the role in Arizona’s economy and has now for quite some time. Canada was our second largest bilateral trade partner in 2015 at $3.7 billion, and looking at Arizona history, both Douglas and Chandler Arizona were named after Canadians.
Not surprisingly Maricopa County beat out the rest of Arizona with 20,000 Canadian owned homes, which is 94 percent of the residential foreign-owned properties. Pima County can’t compete with these numbers, but has greatly benefited from Canadian-owned companies such as Stantec, Oracle Mining, and Southern Arizona’s top aerospace industry employer, Bombardier.
Canada’s presence in Arizona continues to grow as about 146,000 Arizona jobs depend on trade and investment with Canada. Although Mexico may still be beating Canada in exports and tourism, here at Tango we would be happy to help any Canadian companies find the right building in Arizona for their business.
Read more about Canada’s impact on Arizona here.
According to a recent BBVA Compass report, Arizona supposedly has a zero percent chance of falling into recession in the near future. Instead we are expected to post 2.5 percent growth in economic output.
This seems to be great news for the economic recovery of Arizona and particularly Phoenix, but where does Tucson fit in? With a median household income well below that of Phoenix at $36,758, Tucson relies heavily on the region’s tourism industry and low-wage jobs. In looking at the 20 richest cities in America and how they continue to grow, it is blatantly obvious that these cities have a high density of educated, skilled workers.
The only way we are going to get out of this hole is by digging in and growing companies locally! We can do it, and companies like Tango client Instant BioScan, who were just purchased by Mettler-Toledo International for $30 million, are proof of that.
Read more about how Arizona is “recession proof”.
While the University of Arizona is producing qualified graduates, Tucson and its surrounding communities are trying to figure out how to get those graduates to stay. Marana Chamber of Commerce President and CEO Ed Stolmaker said, “We need to have higher paying jobs to be able to have people live and work in our community.” Is the root of this issue poorly funded local public education or a lack of high paying employment opportunities? Find out what people are saying here and share your own thoughts.