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The City of Tempe wants existing, new and expanding
businesses to be successful in the community. The Economic Development
Division provides a wide range of services designed to support small
businesses as well as Fortune 500 corporations. City representatives can
help companies meet community leaders, find tax-saving
programs and choose excellent business locations. They can also facilitate
introductions to business groups.
Economic Development
- Tempe Economic Development specialists can research answers to many
questions that could help a company determine the profitability of a
venture or to pick the best location
- Economic Development specialists can provide information on the
designated Tempe enterprise zone
- Economic Development specialists can facilitate connections to state
resources and incentives
- Using a Costar database, Tempe can narrow down the search for a
particular kind of facility
- Staff familiarity with available real estate and leasing agents can
assist companies in finding the space they need
Business incentives
- Asset Assistance Program -
For businesses affected by light rail construction
- Arizona Job Training Program -- Offset costs associated with
developing and implementing a job-training plan to meet the company’s
specific requirements, including the New Employee Training Grant and the
Existing Employee Training Grant, which allow savings of up to 75 percent
of training costs for employees. An IT Training Grant is also available
- Arizona’s Enterprise Zone Program -- Arizona offers a State Corporate
Income Tax Credit for businesses locating or expanding within designated
zones
- State Income Tax Credit for Qualified Research and Development --
Receive a tax credit for qualified research and development
- Pollution Control Tax Credit – Get a 10 percent income tax credit on
real or personal property used to control or prevent pollution
- Transaction Privilege and Use Tax Exemption -- This exempts the sales
of machinery and equipment used directly in manufacturing operations from
this tax
- Private Activity Bonds -- Use these for the construction of
manufacturing facilities and equipment. The interest is exempt from
federal income tax
- Accelerated Depreciation -- Get an aggressive accelerated depreciation
schedule to encourage new capital investment and reduce a company’s
personal property tax liability
- Foreign Trade Zone Program Duty-Free Storage -- The FTZ is a secured
area treated as though legally outside of the U.S. Customs territory.
Imports may be landed and stored quickly without full customs formalities.
Arizona is the only state that provides an 80 percent reduction in real
and personal property taxes for qualifying companies
Business Groups
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