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Arizona Chamber President and CEO Danny Seiden testified earlier than the Arizona state Senate Commerce Committee final week, delivering a “State of Arizona Enterprise” deal with to committee members.
Seiden started his testimony by highlighting Arizona’s aggressive financial rankings in opposition to different states, indicating that the state’s financial local weather goes in the correct course.
“We’re ranked number one on financial efficiency, and quantity 3 on financial outlook by Wealthy State Poor States,” mentioned Seiden, referring to the annual rankings of states in a number of financial efficiency classes. “Our financial rating has gone from 19 to quantity 7 and job development, which is essential, went from quantity 12 to number one.” Seiden additionally talked about the outsized function that the enlargement of Arizona’s superior manufacturing trade has performed in making Arizona extra economically affluent.
Seiden careworn all through his testimony that coverage issues, and that the state’s financial success to-date was no accident. He argued that authorities and trade must deal with three broad classes by at the least 2030 to construct on this prosperity: expertise, competitiveness, and infrastructure.
Seiden mentioned that there “is a conflict for expertise proper now” and that the state must prioritize schooling, which produces the workforce of tomorrow, and that the state and personal enterprise each play an vital function in growing and attracting a talented workforce to the state of Arizona.
“In the event you ballot our members, companies’ number one concern throughout the board is expertise and workforce shortages,” Seiden mentioned. Such shortages could possibly be solved by additional growth of the state’s workforce growth pipeline. Universities, commerce faculties, group faculties, and the state’s Ok-12 schooling system are integral to the success of that mission.
In his dialogue on competitiveness, Seiden targeted on unemployment, family earnings, and tourism. The state’s unemployment charge is 4.1% proper now, with the workforce participation charge at 60%.
Seiden emphasised the necessity for lawmakers to deal with growing and sustaining the infrastructure that companies must function and develop. Infrastructure is a key for attracting new enterprise to Arizona. He signaled assist for additional funding in roads, telecommunications, power methods, and water infrastructure. “Our producers love figuring out that they’ve dependable power right here in Arizona. We have to work with Salt River Undertaking, Arizona Public Service, Southwest Gasoline, and Tucson Electrical to verify” the state continues to supply dependable power, he mentioned.
The tax local weather and Arizona’s new flat earnings tax make it even simpler for enterprise to develop in Arizona, he argued. “Within the final 18 months we now have had great success, we now have lowered business property tax, we now have lowered enterprise private property valuation tax.”
Seiden additionally unveiled the Arizona Chamber Basis’s 10-year plan, often called “Arizona 2030”. The plan focuses on the three main classes he mentioned earlier in his testimony: expertise, workforce, and infrastructure. In 10 years, Arizona is projected to have a inhabitants of over 8 million individuals, necessitating coordination between trade and authorities to handle development.The inhabitants is projected to hit 9 million by 2040, with Arizona outpacing nationwide development by two instances. Seiden concluded his testimony by saying that “Arizona is well-positioned for future development, however we can not go backward.”
“The Chamber stands with you and can accomplice with you this session as you consider further insurance policies that may assist us with our expertise, competitiveness, and infrastructure.”
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