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GPEC Launches Unique Program After California Passes Massive Tax Initiative

The Greater Phoenix Economic Council (GPEC) announced The California 50, a program that offers Golden State CEOs an insider’s look at the Greater Phoenix market.

The first 50 qualified California-based CEOs who would like to evaluate the Greater Phoenix market for business growth opportunities will receive complimentary airfare and accommodations.

The announcement comes on the heels of the passage of Proposition 30, a $6B tax initiative that will raise income taxes on those making more than $250,000 annually and sales taxes on all Californians.

Meanwhile, Arizona spent the last few years lowering capital gains and corporate income taxes, crafting economic development programs that drive capital-intensive and export-based industries and initiating business-friendly policies. Just this week the City of Phoenix extended its 24-hour business permitting program to also include 24-hour inspections. Now, businesses can literally apply for a permit and start construction on the very same day.

“In Arizona, we need California to turn its economy around – we depend on it. Unfortunately, policies like Proposition 30 are driving the state’s best innovators away in droves,” GPEC President & CEO Barry Broome said. “But lately we’ve found that California companies are calling us instead as they consider expanding into the Greater Phoenix market or relocating their management teams in order to save money.

“No doubt, this is because Arizona has worked to provide a business-friendly environment that welcomes business and free enterprise while California has enacted policies that are the equivalent of a ‘closed for business’ sign.

“That’s why we’re giving California CEOs a chance to preview the Greater Phoenix market and consider expanding their management teams to the region as a way to cut costs,” Broome continued. “With more than 70 direct flights between Phoenix and San Jose alone every day, it’s both convenient and cost-effective for CEOs to operate their companies while residing in Greater Phoenix.”

Over the past three years, Greater Phoenix has seen a surge in investment from California-based companies including Silicon Valley Bank, PayPal, Yelp, Maxwell Technologies, Power-One and APL.

GPEC is a public-private partnership that’s been responsible for the region’s economic growth since 1989. It provides in-depth market data and analysis, operational cost analysis, site-selection assistance and connectivity to the region’s business and university leaders, as well as public officials, throughout the state. It targets the following industries: renewable energy; biomedical/personalized medicine; advanced business services; high-tech manufacturing and logistics; mission critical; aerospace and aviation; and emerging technology.

To qualify for the program, applicants must be CEOs at high-tech companies or with corporate facilities with 200 or more employees, or at emerging technology companies with compelling intellectual property.

The first 50 qualified CEOs that contact GPEC by Nov. 16 will receive complimentary airfare, transportation and hotel accommodations. Exclusive, one-on-one visits into the market will include an in-depth industry and market overview, CEO introductions and a regional asset tour.

Please contact GPEC’s Barbara Miller at (602) 262-8632 or bmiller@gpec.org to be considered.

 

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