PHOENIX – The Arizona Chamber of Commerce and Industry today hailed passage of a sweeping economic competitiveness bill by the state Legislature that makes key tax reforms designed to make the state more fertile ground for job creation.
Chamber President and CEO Glenn Hamer called the bill a “once-in-a-generation package of pro-jobs measures.”
“This bill is just what the doctor ordered to set Arizona’s economy on the road to recovery,” Hamer said. “Because of this legislation, Arizona has announced to the rest of the world that we’re open for business and ready to compete on a regional, national and global basis.”
Once signed into law by Gov. Brewer, the legislation will set into motion a multi-year phase-down of corporate income and business property taxes, two areas where Arizona has been uncompetitive with other states.
The bill also establishes a funding mechanism for the newly constituted Arizona Commerce Authority, which will bring a new level accountability and professionalism to the state’s economic development efforts.
“The Commerce Authority will make job creation job one. The state’s economic development efforts are in good hands as we work to win back the nearly 300,000 jobs we’ve lost in this Great Recession.”
The bill represents a major achievement for the governor and Senate President Russell Pearce and Speaker of the House Kirk Adams.
“I want to applaud Gov. Brewer, President Pearce and Speaker Adams for their leadership and dedication to getting this bill passed,” Hamer said. “Their hard work and focus was critical to getting this bill across the finish line, and we look forward to the governor signing the bill into law.”
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