Tag Archives: Canada

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UNS Shareholders Approve Acquisition by Fortis

Shareholders of UNS Energy Corporation voted overwhelmingly today to approve the proposed acquisition of the company by a subsidiary of Fortis Inc.

The votes were tabulated at today’s special meeting for shareholders at UNS Energy’s Corporate Headquarters in Tucson. Approximately 97 percent of the ballots cast supported the company’s acquisition by Fortis, the largest investor-owned gas and electric distribution utility company in Canada.

“Today’s vote is a positive step toward a new partnership that will provide benefits for shareholders, customers, employees and the communities we serve. Joining Fortis will provide additional financial strength to help us maintain safe, reliable service throughout Arizona,” said Board Chair and CEO Paul J. Bonavia.

The merger agreement provides that Fortis will acquire all of the outstanding common stock of UNS Energy for $60.25 per share in cash. The $4.3 billion transaction, which includes the assumption of approximately $1.8 billion in debt, would provide additional capital and new resources for UNS Energy’s subsidiaries, including Tucson Electric Power (TEP) and UniSource Energy Services (UES). Both companies will remain headquartered in Tucson under local control with current management and staffing levels and no planned changes to existing operations or rates.

Joining the Fortis family of companies would improve UNS Energy’s access to capital to fund the ongoing diversification of its generating fleet as well as investment in other infrastructure improvements. Upon closing, Fortis will inject $200 million of equity into UNS Energy.

The merger is subject to the approval of regulators, including the Arizona Corporation Commission and the Federal Energy Regulatory Commission; the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; and the satisfaction of customary closing conditions. UNS Energy anticipates the transaction will be finalized by the end of 2014.

Samantha Maracle

Maracle Named SCNM’s Director of Development

Samantha Maracle, CFRE, brings more than 20 years experience in nonprofit fundraising management to her new position as Director of Development at the Southwest College of Naturopathic Medicine.

Most recently, Maracle handled responsibilities as a Development Analyst with the Scottsdale Healthcare Foundation.  Previously, she was Arizona Director of Development at the Devereaux Foundation.  Her experience also includes responsibilities as Vice President of Marketing and Development for Junior Achievement and as President of Performance Diagnostics, a consulting firm providing organizational assessment, development and program expertise to nonprofit agencies and businesses.

In addition to her designation as a Certified Fund Raising Executive (CFRE), Maracle holds a Bachelor of Science degree with specialties in plant physiology, mycology (the study of fungi) and biochemistry from Carleton University in Ottawa, Ontario, Canada.

“Samantha brings an incredible depth of knowledge and strategic development experience to SCNM that will be invaluable as the college continues its rapid growth,” said SCNM President Dr. Paul Mittman.  “Her diverse core competencies in all areas of nonprofit development include a strong history of success in the corporate, nonprofit and private sectors as well as an understanding of scientific principles that are the foundation of naturopathic medicine.  She brings tremendous value to the SCNM management team.”

For information about SCNM, visit www.scnm.edu.

Samantha Maracle

Maracle Named SCNM's Director of Development

Samantha Maracle, CFRE, brings more than 20 years experience in nonprofit fundraising management to her new position as Director of Development at the Southwest College of Naturopathic Medicine.

Most recently, Maracle handled responsibilities as a Development Analyst with the Scottsdale Healthcare Foundation.  Previously, she was Arizona Director of Development at the Devereaux Foundation.  Her experience also includes responsibilities as Vice President of Marketing and Development for Junior Achievement and as President of Performance Diagnostics, a consulting firm providing organizational assessment, development and program expertise to nonprofit agencies and businesses.

In addition to her designation as a Certified Fund Raising Executive (CFRE), Maracle holds a Bachelor of Science degree with specialties in plant physiology, mycology (the study of fungi) and biochemistry from Carleton University in Ottawa, Ontario, Canada.

“Samantha brings an incredible depth of knowledge and strategic development experience to SCNM that will be invaluable as the college continues its rapid growth,” said SCNM President Dr. Paul Mittman.  “Her diverse core competencies in all areas of nonprofit development include a strong history of success in the corporate, nonprofit and private sectors as well as an understanding of scientific principles that are the foundation of naturopathic medicine.  She brings tremendous value to the SCNM management team.”

For information about SCNM, visit www.scnm.edu.

GPEC Forum

GPEC hosts forum with 4 new companies

On May 29, the Greater Phoenix Economic Council (GPEC) will host a forum featuring some of its locates, or businesses that GPEC and its partners have assisted in expanding or relocating to the Greater Phoenix region.
The companies, who have relocated or expanded from Minnesota, New York, Canada and the Netherlands, will discuss their decision to establish a presence in Greater Phoenix and their experiences since locating to the region.
The forum is part of GPEC’s ongoing ambassador event series.  Ambassadors are GPEC investors who help educate and inform stakeholders, policy-makers, citizens and media about key regional economic development issues.

FEATURED LOCATES INCLUDE:

Dalsin Industries:  Founded in Minnesota in 1945, Dalsin Industries has grown into a full-service job shop and contract manufacturer, specializing in sheet-metal fabrication and metal stamping. The company opened a new facility in Phoenix in December 2012.

Silent-Aire: A Canada-based, privately held family enterprise, Silent-Aire has been designing and manufacturing custom HVAC systems for more than 20 years, shipping its products all over the globe. Silent-Aire located in Gilbert in April 2013.

STEALTH Software: STEALTH Software is a Dutch-based software development company specializing in seamlessly and securely integrating applications and storage infrastructure. In February, STEALTH announced it will locate its U.S. headquarters in Greater Phoenix.

ZocDoc: ZocDoc, founded in New York in 2007, is a free service that allows patients to find a nearby doctor or dentist who accepts their insurance and to instantly book an appointment. In March, ZocDoc announced its plans to locate to Scottsdale.

Funding Startup Companies Jumpstart Economy

GPEC boosts state’s economy by attracting more foreign direct investment

The Greater Phoenix Economic Council’s California 50 program — which aimed to fly 50 Golden State CEOs to Phoenix for an opportunity to tour and explore the region’s business-friendly environment — proved to be so popular that they expanded it to 100 a week after its launch.

But it may be GPEC’s pitch to CEOs even farther away that makes the biggest impact on Arizona’s economy.

“GPEC is focused on a specific region in China, defined by Shanghai and 10 other cities connected by high-speed rail,” says Ron Butler, managing partner at Ernst & Young in Phoenix and co-chair of GPEC’s International Leadership Council. “This region (known as the ‘Z Corridor’) features China’s largest concentration of industries, including solar, medical device, IT, pharmaceuticals, high-tech manufacturing and chemicals. GPEC has made tremendous strides over the past several years in China, particularly with solar and renewable energy companies. Now, the organization is looking to leverage those relationships and expand into other, capital-intensive industries.”

GPEC’s effort is significant, Butler says, because export industries and foreign direct investment (FDI) drive economic growth, create wealth within the region, and tend to be capital-intensive operations that pay higher-than-average wages. Currently, FDI accounts for 73,000 jobs in Arizona and the state saw a 235 percent increase in FDI from 2005-2010, from just over $270 million to more than $904 million.

“By focusing on the Z corridor, a zone known for its solar, high-tech, bio-medical, and chemical industries, GPEC has identified a region that can appreciate what Arizona and — more importantly Arizona workers — can do well,” says Ilya A. Iussa, assistant professor of law at Phoenix School of Law.

But it’s not just investment from China that is giving Arizona an economic boost within the solar and renewable energy industries. In addition to China’s Suntech, the region has seen investments from Spain’s Rioglass and Abengoa, England’s Faist, Germany’s Solon, France’s Saint-Gobain, and Canada’s Cosma International.

“GPEC smartly targets the regions and countries that represent significant growth opportunities, like Canada, China and Western Europe, and works these markets with effective marketing and business development strategies,” Butler says. “Now, with a more concentrated effort underway in China and successful positioning as both a leader in the U.S. solar market and an on-the-record supporter of expanded free trade with China, the Greater Phoenix region is poised for amplified growth in FDI, particularly from China.”

Despite its success, experts says Arizona still has some work to do.

“Our neighboring states and biggest competitors far outrank us in national FDI and export-trade rankings,” Butler says. “California is first for FDI and second for exports, while Texas is second for FDI and first for exports. As such, we must continue evaluating our market for additional FDI and export industry opportunities, and look for ways to increase our competitiveness in these areas.”

Lawmakers have identified one area that needs to be addressed to gain a competitive edge on other states.

“One of the first things we should do is focus on developing a highly educated workforce that will attract companies and businesses looking to move their headquarters,” says Rep. Matt Salmon, R-5. “In addition, it is equally important for us to create a pro-business environment and that comes by reducing harmful regulations that hamper economic growth. Both would increase Arizona’s role in the global economy.”

In order to be increase its global presence and become more competitive with neighboring states like California and Texas, Butler says Arizona must increase the number of export industries operating in the state.

“We can increase our competitiveness for these types of investments,” he says, “with a targeted economic development program for export industries, similar to the Renewable Energy Tax Incentive Program (SB1403), which has brought significant investments to the region and the Qualified Facilities Tax Credit (HB2815), which expanded the successful renewable energy program to include qualified, export-based investments.”

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Scottsdale Launches Warm-Weather Campaign

The Scottsdale Convention & Visitors Bureau is promoting Scottsdale as a warm-weather destination in New York, Canada, and other top markets with the launch of its 2013 warm-weather marketing campaign.

During February 2013, New Yorkers riding the 42nd Street subway will find themselves soaking up the sun in the Sonoran Desert, relaxing in a Scottsdale spa or taking a casual stroll along the fairway. The exteriors and interiors of three subway cars will be wrapped with Scottsdale’s unique tourism assets: the Sonoran Desert, Old West heritage, spas and golf. Each wrap will direct riders to StepIntoScottsdale.com.

The chosen line connects Grand Central Station and Times Square, the two busiest subway stations in the country. Each day, 100,000 riders will spend their daily commute surrounded by iconic images of Scottsdale, with more than 33.6 million viewers during the campaign’s duration.

In addition to the New York subway wrap, the bureau will promote Scottsdale’s sun-soaked winter season through television commercials, radio spots, online and mobile ads, and billboards.

From Dec. 31 through March 31, Scottsdale’s local-weather forecast, including a weather-sensitive ad that will appear when the weather in viewer’s area reaches a certain chilly temperature, will appear on Weather Channel Canada. This national buy includes television ads that will be seen by 21.8 million viewers. Canadian Traffic Network in Toronto and Edmonton also will feature Scottsdale radio spots that are expected to reach more than 8 million listeners.

Additionally, the bureau will promote Scottsdale in Chicago, Denver and New York via Weather.com. Weather.com users who access the website from a downloaded desktop app or a mobile app will see a banner ad with Scottsdale’s high temperature. Likewise, digital billboards in Chicago will flash Scottsdale’s temperature and the campaign-landing page WarmUpinScottsdale.com, serving as a constant reminder of the sunny paradise in the Southwest.