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11-14-08 Release: Economic Vitality Department honored as one of Arizona’s “Economic Engines”

 
  Nov. 14, 2008


  Jennifer Graves, Economic Vitality Specialist, (480) 312-7125


  Economic Vitality Department honored
  as one of Arizona’s “Economic Engines”


Scottsdale’s Economic Vitality Department has been named one of the 2008 Economic Engines of Arizona Award honorees by Arizona Business Magazine.

The department is among 15 organizations honored in the November issue for their significant contributions to the state’s business community. This is the third year for the awards program.

The department was cited for its key roles in a host of projects and initiatives, including:

  • The revitalization of the southern portion of Scottsdale, which is the City Council’s top priority. Key projects facilitated by the department include the new Southbridge development along the waterfront, the Loloma mixed use development, the McDowell Road Streetscape Improvement Project, and the Rose Garden Project. The most recent Southern Scottsdale Investment Activity report produced by the department noted that since 2003, more than $3.3 billion had been (or is planned to be) invested in the area.
  • Continued development of SkySong, opened in January 2008, which has already attracted both international and national corporate tenants and entrepreneurs, accounting for over 400 new jobs, focused on research and development with ASU.
  • The expansion and improvements at Fashion Square Mall over the past 20 years, resulting in sales tax collections of millions per year for Scottsdale and the state.
  • A Covered Walkway and Facade Improvement Program in Downtown Scottsdale, which was designed to encourage and leverage private investment and has resulted in nearly $6 million in total committed for 32 projects. Currently approximately $16 of private funds are invested for each matching dollar of public funds.
  • A building permit fee reduction program that has benefited more than 290 businesses in Downtown and southern Scottsdale while saving businesses over $98,000 and generating over $183,000 in new fees to the city.
  • The expansion and retention of Dial’s Corporate Headquarters, resulting in 1,000 new jobs being added to their local workforce.
  • The development of Mayo Clinic Collaborative Research Building, which enabled the attraction of TGen Drug Development Services, or TD2, and the expansion of InNexus Biotechnology from Canada.
  • Workshops on opening and operating small businesses, hosted in cooperation with the Small Business Development Center of Maricopa Community College District.
  • Continuing support for Scottsdale’s tourism industry. Tourism generates billions of dollars in economic impacts each year Scottsdale, the region and the state. Key projects supported by the department include the Scottsdale Convention and Visitors Bureau Destination Marketing program, the Tourism Development and Marketing Five-Year Strategic Plan, The Desert Discovery Center Feasibility Study , and numerous large-scale tourism driven events such as the Barrett Jackson Automobile Auction, Fiesta Bowl events, the P.F. Chang Rock ‘n Roll Marathon and the Scottsdale All Arabian Horse Show. Two of the largest Scottsdale events, the FBR Open and Barrett Jackson, generate estimated impacts of more than $200 million each year.

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