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Activities of the MAG Economic Development Committee, April 4, 2017 Meeting

Message from the Chair
Scottsdale Mayor W.J. “Jim” Lane

Our dynamic economy requires us to continue building bridges with the world. At the April 2017 EDC meeting, we heard the Consul General of Mexico in Phoenix, Claudia Franco Hijuelos, provide an overview on the consulate initiatives. Furthering relationships with our Southern neighbor is key to the prosperity of our region. Mexico is Arizona's largest trading partner and 11,200 jobs depend directly on the Arizona's trade relation with Mexico.

Consul Franco reminded us of the importance of promoting collaboration on both sides of the border to foster economic growth, especially at the local level. The City of Phoenix officially opened a trade and investment office in Hermosillo as part of this effort. Mayor Stanton led a delegation of key business representatives to formalize the partnership. I am sure we all appreciate Mayor Stanton's offer for any city to utilize the trade office in Hermosillo. We also heard that the economies on both sides of the border are highly integrated through the supply chains. Greater Phoenix Chamber of Commerce President and CEO Todd Sanders, who participated in the mission to Hermosillo, highlighted that countless manufacturing plants in Mexico buy raw materials and manufacturing components from the U.S.

As we move toward a more integrated and innovative economy, it is important for policymakers to be aware of the assets in our region. We all knew that Intel was located in Chandler, but we perhaps did not appreciate the magnitude of the company's economic impact in our state. Intel also is one of the top five exporters in the country and top exporter in Arizona. At the meeting, we had the pleasure of listening to Intel Government Affairs Manager Jason Bagley who enlightened us with compelling information. Intel will be investing more than $7 billion over the next three to four years to complete the most advanced semiconductor factory in the world, FAB42, in Chandler, Arizona. In addition, it was fantastic to hear how Intel supports employees that volunteer in nonprofits in the community through the company's voluntary matching grant program.

Finally, we learned that Intel has the largest Internet of Things unit located in Chandler, which ties to the Greater Phoenix Economic Council marketing campaign recently launched targeting this sector. “The Connected Place” campaign highlights the importance of the region's Internet of Things emerging sector. I look forward to continue working with the members of the EDC to foster initiatives that strengthen our connections with the global economy and create a regulatory environment that allows companies like Intel to be more competitive.

EDC Meeting Summary

Report from the Consul General of Mexico in Phoenix

Arizona's ties to Mexico are strong. Mexico is also Arizona's main trading partner. In 2016, 111,200 jobs depend directly on the state's trade relations with Mexico. Consul General of Mexico in Phoenix, Claudia Franco Hijuelos, provided an overview on the ties between Arizona and Mexico. The Mexican consulate in Phoenix provides quality services and assistance to Mexican citizens living in Arizona. The tourism connection also is significant. For example, seven out of ten international tourists with overnight stays in Arizona are Mexican.

Consul Franco emphasized the importance of a commitment to a future of mutual respect and prosperity between our countries and states. She talked about the recent Phoenix trip to Hermosillo. Phoenix Mayor Greg Stanton and Greater Phoenix Chamber of Commerce President and CEO Todd Sanders provided a brief update on this delegation mission. Phoenix officially opened a trade office in Hermosillo on March 28, 2017, to promote trade and attract investment. The mission also included key business representatives from both sides of the border who signed a Memorandum of Understanding. The memorandum establishes a partnership for cross-border collaboration to promote growth and expand business opportunities, and to foster trade, investment, and communication of best practices in a mutually beneficial working business environment.

Fueling Technology Innovation Through Growth and Investment in Advanced Manufacturing

Intel plays an important role in Arizona's economy. Intel has one of the largest and most complex semiconductor manufacturing sites in the world located in Arizona and is the seventh largest employer in the state. Intel Government Affairs Manager Jason Bagley provided an overview on the company's investment in the state. Intel has 11,000 employees with an average salary of $148,000 and a $5.3 billion annual economic impact in Arizona. The company will be investing more than $7 billion over the next three to four years to complete the most advanced semiconductor factory in the world, FAB42, in Chandler, Arizona. This investment will create 3,000 new permanent Intel jobs. The deciding factors for Intel to locate this new plant in Chandler were the availability and cost of infrastructure, the high-skilled workforce in the state, the tax incentives, and the regulatory environment. Intel also is committed to support the communities through its voluntary matching grant program, which provides funding to the nonprofit organization where Intel employees volunteer.

Report on the Metro Phoenix Global Investment Plan

The Greater Phoenix Economic Council (GPEC) launched the Metro Phoenix Global Investment Plan in February 2017. GPEC Board Member Steve Betts provided an overview on this initiative. The Metro Phoenix Global Investment Plan examined the challenges and opportunities for attracting and retaining foreign direct investment in the Greater Phoenix region. The Plan developed strategies for establishing the region as a leader in the Internet of Things (IoT) and sensor technology applications. The initiatives outlined in the plan are designed to encourage growth of the IoT emerging sector and improve global readiness, trade, international investment and the region's competitiveness. To showcase the “internet of things” sector in the Greater Phoenix region, GPEC developed a new campaign called The Connected Place that includes a video highlighting the sector.

Next Meeting

The next meeting of the EDC will be on Tuesday, May 2, 2017, at 11:30 a.m. at the MAG Office, 302 N. First Avenue, Phoenix, second floor, Saguaro Room.

The EDC E-Update is a monthly electronic newsletter providing information about the activities of the MAG Economic Development Committee. For questions regarding this e-mail, or to be removed from the distribution list, contact Denise McClafferty or Natalia Cuneo at (602) 254-6300, or via e-mail at dmcclafferty@azmag.gov or ncuneo@azmag.gov.

Apr 04, 2017
 
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