Arizona strives to build and maintain healthy climates in the nanotechnology, aerospace and defense, and bioscience industries. To this end, the state nurtures growth and creates school programs that inspire the next generation to become leaders in these fast moving, cutting edge fields.
Leadership in these industries is no accident. These successes have been cultivated through strategic partnerships and policy decisions.
The Arizona Commerce Authority (ACA) is the state’s leading economic development organization. The ACA fulfills its mission to strengthen Arizona’s economy by deploying a three-pronged approach: Recruit, Grow, Create. Out of state companies are recruited to expand their operations in Arizona, existing companies are coached to grow their businesses, and start-ups are carefully fostered to create jobs in targeted industries.
To help Arizona attract and keep technology companies, the ACA offers strategic partnerships, economic incentives, and comprehensive workforce training programs.
In 2011 the Arizona Commerce Authority created the Arizona Innovation Challenge, a contest that awards millions of dollars in grant money to promising technology ventures. The Arizona Innovation Challenge is an investment in the minds of talented entrepreneurs in Arizona and around the world. In 2011, the ACA received more than 100 proposals from start-up companies, awarding eight companies grants ranging from $100,000 to $250,000. Winners are creating products and services that push the boundaries of existing technology and are likely to add a number of exciting high-tech jobs to Arizona’s growing network. The future is looking bright!