7.
City Council Work Session
- Meeting Date:
- 04/12/2016
- From:
- John Saltonstall, Business Retention & Expansion Manager
- Department:
- Economic Vitality
Co-Submitter:
TITLE:
Presentation on Economic Development Incentives Available to Businesses in Flagstaff
DESIRED OUTCOME:
This is an informational item which was requested by Council
EXECUTIVE SUMMARY:
Incentives exist to encourage behaviors in others that may not otherwise occur. The State of Arizona offers a suite of incentives to encourage commerce and investments. Those incentives range from foundational, to statutory, to discretionary. This presentation will provide details on each type of incentive. Next, the three existing development agreements enabled through legislation will be discussed in greater detail. The last portion will present examples of successful grant programs that have assisted area businesses.
INFORMATION:
COUNCIL GOALS:
9) Improve the economic quality of life for Flagstaff through economic diversification, and by fostering jobs and programs that grow wages and revenues
REGIONAL PLAN:
Goal LU.1. Invest in existing neighborhoods and activity centers for the purpose of developing complete, and connected places;
Goal LU.9. Focus reinvestment, partnerships, regulations, and incentives on developing or redeveloping urban areas;
Goal ED.3. Regional economic development partners support the start-up, retention, and expansion of existing business enterprises.
9) Improve the economic quality of life for Flagstaff through economic diversification, and by fostering jobs and programs that grow wages and revenues
REGIONAL PLAN:
Goal LU.1. Invest in existing neighborhoods and activity centers for the purpose of developing complete, and connected places;
Goal LU.9. Focus reinvestment, partnerships, regulations, and incentives on developing or redeveloping urban areas;
Goal ED.3. Regional economic development partners support the start-up, retention, and expansion of existing business enterprises.