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State revenue up for 15th consecutive month
State revenue rose again in October, giving policymakers a reason to cheer. This marks the 15th month in a row of revenue growth, the Joint Legislative Budget Committee reported last week. Buoyed by a strong showing in individual income taxes, revenue increased by 16.6 percent last month compared to the year before.
ACA to award deal-closing cash for Tempe company’s expansion
After being in place for four months, the Arizona Commerce Authority Oct. 24 announced its first award from its $25 million deal-closing fund.
State budget revenue up $80M in August
Major economic indicators in Arizona point to a steady recovery, although some bumps remain.
Revenues in August grew by 8.6 percent, buoyed by strong showings in sales and individual income taxes.
High unemployment rates remain a problem for Arizona rural areas
In a state where unemployment remains high as much of the rest of the nation recovers from the Great Recession, Yuma stands out. The metropolitan area’s jobless rate of 15.9 percent in August was the nation’s second highest, trailing only nearby El Centro, Calif., according to the U.S. Bureau of Labor Statistics.
A New Direction: Cracking down on illegals is losing luster in down economy
With another election season fast approaching, border security remains a priority, but many lawmakers and political insiders say support for local immigration-enforcement measures appears to be waning. The prevailing mood is that lawmakers might not have the appetite to wage emotionally draining battles over illegal immigration at a time when the state faces a more immediate menace — a saggin[...]
Report: Economic recovery in Phoenix, Tucson trailing region
Slumping housing prices and the prevelance of service-industry jobs contributed to Phoenix and Tucson trailing the rest of the Intermountain West in economic recovery during the second quarter, according to a Brookings Institution report.
Fiscal Fright: Budget storm clouds could put state ‘under water’ in 2014
Arizona has weathered its share of economic storms in recent years. Stopgap measures, a temporary tax increase and incessant budget slashing allowed the state to precariously stay afloat.
But the horizon promises no relief yet. In fact, many budget decisions drawn up by state leaders have actually put Arizona on a course toward troubled waters.
Cash war: State’s projected surplus will bring new budget skirmishes
For a state that has been grappling with a multibillion-dollar deficit for four years, news of a potential revenue surplus is like a few drops of rain after a long drought.
Consumer, investor confidence slowing Arizona’s recovery
In the week following a string of Washington and Wall Street theatrics, experts are saying that Arizona’s recovery will be slowed as consumer and investor confidence dwindles.
Arizona takes hit in stock market
The debt-ceiling debate, the downgrading of the U.S. debt and the market mini-crash this week have exacted a steep toll on Arizona’s stock market investments.
Lawmakers hope Arizona can cash in on California Internet tax
California’s loss could be Arizona’s gain, if some legislators have any say about it.
With the outcry from some businesses about the Golden State’s newly-passed “nexus tax” on some online retailers, Rep. Tom Forese, R-Gilbert, has proposed that Arizona take advantage of the discontent and try to recruit the angry businesses to Arizona, which has no such tax.
Broome leaving GPEC for San Diego
After six years at the helm of the Greater Phoenix Economic Council, Executive Director Barry Broome is leaving for a new job in San Diego.
