Business Facilities - October 2008 - (Page 8)

METRO SPOTLIGHT Phoenix, Arizona By Jenny Vickers City of the Future Phoenix’s Financial Incentives • Reduced property tax rate for renewable energy equipment • Solar Energy Tax Credit provides income tax credit for the installation of solar energy devices in Arizona business facilities. • Angel Investment Tax Credit expands early-stage investments in targeted Arizona small businesses. • Enterprise Zone program enhances opportunities for private investment in certain areas. A company located in an Enterprise Zone may receive tax credits by creating new quality jobs. • The Research and Development Income Tax Credit awards qualified research and development conducted in Arizona. This includes university research and funded by the company. • Personal Property (machinery, equipment or other personal property) used in manufacturing, health care or other commercial operations is exempt from transaction privilege tax. • Accelerated Depreciation encourages new capital investment and also enables reduction of personal property tax liability. Solar City installations in Phoenix, AZ S SOURCE: ARIZONA DEPARTMENT OF ECONOMIC SECURITY 2007 8 OCTOBER 2008 PHOTO: SOLAR CITY trategically positioned in the Southwest, the Greater Phoenix area is one of 10 U.S. markets projected to experience 85% of the nation’s growth over the next 35 years. Greater Phoenix, which consists of the City of Phoenix, much of the rest of Maricopa County, a large section of Pinal County, and small parts of southern Yavapai County, currently is the 13th largest area in the United States, with an estimated population of four million. The City of Phoenix is the largest state capital in the U.S. in terms of population and is the only state capital with a population of more than one million. With a labor force of over two million people, Greater Phoenix is known as a business and innovation hub with international access for aerospace, high-tech, bioscience, advanced business and sustainable technologies companies. Currently, over 20 major Fortune 500/1000 companies are located in Phoenix, such as Allied Waste, AT&T Inc., Bank of America, Boeing, Google, Morgan Stanley, and Wells Fargo. Honeywell’s Aerospace division is headquartered in Phoenix, and the valley hosts many of its avionics and mechanical facilities. Intel has one of its largest sites in the city, employing about 10,000 employees. Businesses are easily connected to the region, nation and the world with two major airports—Sky Labor Force Population 16+ Years 3,057,877 In Labor Force 1,999,670 Civilian Labor Force 1,995,319 Employed 1,911,351 Unemployed 83,968 Armed Forces 4,351 Not in Labor Force 1,058,207 Employment By Industry Harbor International Airport and Williams Gateway Airport —and a new lightrail system being launched in December 2008.

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Business Facilities - October 2008 Contents First Word Snapshots Metro Spotlight: Phoenix, AZ Essential Relocation Tips Metro Spotlight: Fayette County, GA Corporate Moves: Kentucky Austria: Hungry for International Trade Foreign Trade Zones: Global Expansion at Reduced Cost New York is Banking on High-Tech Growth Metro Spotlight: Cuba, MO The Garden State is Growing it's City Centers Information Technology: No Signs of a Slowdown Advertiser Index Inside LiveExchange

Business Facilities - October 2008

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