The Town Council of Fountain Hills announced the unanimous approval of a three-year Community Economic Development Strategy (CEDS) aimed to activate business attraction, retention, expansion, and tourism. After 10 years since the last amendment, the approval of the 2023-2026 plan was necessary to ensure the long-term financial sustainability of the community.
“I am eager to begin executing this plan over the next three years,” said Economic Development Director Amanda Jacobs. “When building this plan, we wanted to engage and hear from the community to understand what they would like to see in the future for this town.”
Jacobs will lead the execution of CEDS over the next three years to a prosperous future for the town.
“This effort is yet another example of our commitment to the successful future of Fountain Hills,” said Mayor Ginny Dickey. “We are confident that the plan will attract new businesses thus creating desirable goods, services and more jobs for our current and future residents.”
Key highlights from CEDS:
- Business Attraction: Strong efforts will be made to expand targeted industries including start-ups, biosciences, financial services, healthcare, hospitality, and retail. The plan also outlines a collaboration with Four Peaks Plaza to redevelop it into a mixed-use property. A revitalization of the Downtown area, Shea Corridor, Saguaro and Fountain Hills Boulevard will attract new residents and visitors. There will be plans set forth to diversify housing opportunities by implementing multi-family and workforce housing developments targeting young professionals.
- Business Retention and Expansion: 80% of new jobs and capital investment comes from companies that already exist in the community. The town will continue with its previously approved Business Retention and Expansion (BRE) Program to preserve and increase local jobs and local tax revenues.
- Strategic Partnerships: The town will develop a plan to create a co-working space to assist start-ups and home-based businesses. There will be plans to collaborate with ASU, NAU, and MCC to pipeline talent through certification programs and on-the-job training initiatives.
- Tourism: The town will continue to attract new resorts that generate bed and sales tax revenues. The International Dark Sky will identify a permanent location within Fountain Hills for stargazing. Signature events/attractions will add to the fabric of the community and promote visitations to the town.