Opportunities and Resources - En Español
International firms such as Sumitomo and S T Microelectronics have already discovered the advantages of locating in Phoenix. Both of these companies have located semiconductor manufacturing plants in Phoenix. CEMEX of Mexico has a huge cement plant near Phoenix. Stantec Consultants, a subsidiary of a Canadian company, is one of the largest engineering firms in Phoenix.
Daily, non-stop flights to international destinations are offered by British Airways, Aeromexico and WestJet of Canada from Phoenix Sky Harbor Airport.
For the latest quarterly edition of the electronic Phoenix Business News, click here: Phoenix Business News Quarterly Newsletter
Opportunities:
Here are a few of the opportunities that exist for foreign companies with offices in Phoenix:
- Phoenix is the fifth largest city in the nation with a population of more that 1.5 million residents and an extended metropolitan population of more than 3.7 million residents as of the 2005 special census. These population estimates are projected to double in 30 years.
- Phoenix is the hub of the rapidly growing Southwest, with the major markets of Los Angels and San Diego only 360 miles to the west.
- The cost of living and doing business in Phoenix is lower than in any other major metropolitan area in the United States.
- Phoenix is the best city for start-up companies in the United States, based on surveys which measure the number of successful new companies as a percentage of all companies.
- There are many opportunities for foreign firms supplying construction technology and services because almost a third of the $141 billion Gross Metropolitan Product in 2004 was generated by construction.
- The aeronautics industry is strong and growing in the Phoenix area where Honeywell has located its engine manufacturing division along with major units of Boeing, General Dynamics and Orbital Sciences Corporation.
- The Financial Services industry is very strong in Phoenix with more than 70,000 people working in banking, insurance and securities.
- More than 40 percent of the 220,000 people working in manufacturing in Phoenix are involved in high technology manufacturing, particularly electronics and semiconductors.
- Boasting more than 1,000 companies in the Health Industry, there are a growing number of biotech companies emerging from the research hospitals, the universities and the research institutes.
- Phoenix has a Foreign Trade Zone located next to the airport, which allows businesses to defer or provide duty-free imported goods. In addition, the city government has the authority to create sub-zones throughout Phoenix.
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Resources:
Here are a few of the resources available for foreign companies investing in Phoenix.
- The Phoenix area has a talented labor pool fed by 330,000 college students, including almost 60,000 students at Arizona State University, a first-tier research university.
- The Phoenix metropolitan area is home to an educated workforce with nearly 28 percent of the population, 25 years or older, holding a bachelor’s degree or higher.
- The Thunderbird School of International Management in the Phoenix area has 800 students, half U.S. and half foreign-born, in its full-time MBA in International Management program.
- Phoenix International Sky Harbor Airport, located only four miles from downtown Phoenix, is the fifth busiest airport in the world for aircraft operations with non-stop flights to every major American city.
- The water supply to Phoenix via canals from local reservoirs and the Colorado River is adequate to meet projected population growth for at least the next 100 years.
- Arizona has an abundant supply of electricity, in fact it exports electricity to neighboring states. Electricity is available from various sources, including the largest U.S. nuclear plant, dams, coal and gas burning plants as well as wind and solar plants.
- The Phoenix Industrial Development Authority issues bonds to help finance the costs of opening manufacturing plants.
- Income tax credits are available to firms locating and hiring people in the Phoenix Enterprise Zone. Manufacturing firms in the Enterprise Zone are also eligible for property tax reductions.
- Training grants are available to match training investments made by Phoenix companies, both for new employees and to upgrade skills of existing employees.
- The city offers management consultants at no cost to small businesses located in Phoenix through its Management Technical Assistance (MTA) Program.
To learn about important agency contacts in Phoenix, click here for the “Phoenix City Technology Resource Guide.”:
http://phoenix.gov/DOWNTOWN/biotech.html
Contact us at business@phoenix.gov or 602 262-5040 for more information and help.
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