Arizona Technology Council, Arizona Chamber of Commerce and Industry, Gilbert Chamber of Commerce, and East Valley Chambers of Commerce deliver plans to Gov. Ducey for reopening of Arizona’s economy.
In response to a request for input from the House Science, Space, and Technology Committee, the Information Technology and Innovation Foundation (ITIF) recommends that a new stimulus package include provisions to jumpstart manufacturing, technology entrepreneurship, and clean energy innovation.
Arizona enjoys a diverse mix of tech industries and professions, with the average technology wage nearly double the average wage in non-tech sectors. Currently, employees in computer systems design, semiconductor manufacturing, and aerospace product and parts manufacturing account for roughly half of all annual wages across the state of Arizona.
Incentives for innovation: The Angel Investment Tax Credit program is set to expire June 30, 2021. That’s why the Arizona House of Representatives is considering HB 2409 in the current legislative session. Continuing the tax credits is key to innovation cultivation and truly becoming the tech hub we’re meant to be.
The top priorities for this year include providing new sources for risk capital to encourage entrepreneurship, extending the Research and Development (R&D) Tax Credit and Small Business Capital Investment Incentive program, supporting science and technology job creation and retention, and attracting the STEM talent required to compete in a global innovation economy.