Sandra Watson Statement On Historic Budget
“Today's historic budget cements our momentum and economic competitiveness for generations to come.”
PHOENIX, AZ (June 25, 2021) — Sandra Watson, President and CEO of the Arizona Commerce Authority, today released the following statement on Arizona’s budget:
“Under Governor Ducey's leadership, Arizona has transformed into a manufacturing and technology powerhouse. Unlike past decades, our vitality is no longer tied to a few growth-oriented sectors. Instead, our economy is diversified across several high-tech industries—with more jobs in manufacturing than construction—our startup ecosystem is attracting global attention, and our state is competing at the highest level for economic development projects.
“Today's historic budget cements our momentum and economic competitiveness for generations to come.
“The budget significantly simplifies Arizona's income tax, including reducing the top rate from 8%—one of the highest in the nation—to 4.5%; provides tax relief for all Arizonans; avoids a painful 77% tax increase on small businesses; improves commercial and industrial property tax treatment; and continues to invest in key priorities such as new roads and bridges, K-12 education, universities and community colleges, public safety and more.
“It is no stretch to say this budget represents one of the most significant advances for economic development in Arizona’s history.
“Before us lies incredible opportunity with advanced industries like semiconductors, electric and automated vehicles, bio-tech, renewable energy, batteries and other emerging technologies. This budget ensures we maximize on our potential for more high-paying jobs and opportunities for Arizonans in the years ahead.
“I’m grateful to Governor Ducey, President Fann and Speaker Bowers for their leadership and vision and to all our legislators for helping position Arizona for long-term success and prosperity. At the ACA, we look forward to the important work ahead of continuing to grow and strengthen Arizona’s economy for all Arizonans.”
Find more information on Arizona’s budget here.
Alyssa Tufts, Arizona Commerce Authority, [email protected]
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.