Kristina Justin / Director, Communications
Greater Phoenix Economic Council / Phoenix, AZ
Monday, March 02, 2009
Phoenix Mayor Phil Gordon is springing into March by leading an Arizona delegation to California’s East Bay area. As part of a joint economic partnership with Tucson announced earlier in this month, Mayor Gordon and the Greater Phoenix Economic Council (GPEC) are looking for opportunities that will advance the Arizona Sun Corridor. This megapolitan stretch uniting Phoenix and Tucson will be one of 10 U.S. markets expected to see most of the nation’s growth in the next 35 years.
“Arizona Sun Corridor: Open for Business” is a pilot program between GPEC and Tucson Regional Economic Opportunities (TREO) that is designed to stimulate California business interest among targeted industries such as aerospace/defense, healthcare/bioscience, transportation/logistics, renewable energy and information communications technology.
“California and Arizona share key strengths in these industries,” said Phoenix Mayor Phil Gordon. “The collaboration between GPEC and TREO will uncover opportunities that will benefit Arizona through new investments and strategic partnerships.”
“Arizona’s Sun Corridor offers a strong value proposition for California companies,” said Joe Snell, TREO President and CEO. ”Arizona and California share a similar makeup of high-wage industries, resulting in similar skill sets among our workforce.”
The one-day trip entails meetings with companies considering expansion or investment plans. Mayor Gordon and GPEC will focus on how the Arizona Sun Corridor can benefit these firms and also explore synergies that will enable Arizona and California to work together.
Arizona has been successful in being a repeat recipient for California investment. Los Angeles-based Abraxis BioScience recently solidified a $14 million investment to launch Catapult Bio, which will accelerate the commercialization of discoveries into business. GPEC helped to facilitate this investment, which expands California’s entrepreneurial reach and shapes Arizona’s bioscience industry.
“California and Arizona have a strategic economic relationship,” said GPEC President and CEO Barry Broome. “Innovation is seeded in California, and the manufacturing occurs in Arizona. States like Colorado and Nevada are using California as a recruitment tactic, whereas the Arizona Sun Corridor will work in concert with the Golden state. Arizona’s economic future is tied to California.”
