Greater Phoenix Expands ‘California 50’ Program

Greater Phoenix Expands ‘California 50’ Program
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One week after the Greater Phoenix Economic Council (GPEC) launched the California 50 program, the organization is expanding the program—which aims to fly 50 Golden State CEOs to the Phoenix metro region for an opportunity to tour and explore the market—to 100 California-based CEOs due to high demand.

“The response to the California 50 program has been overwhelming. We’ve heard from CEOs up and down the California coast, representing firms in the technology, medical device, financial and life sciences industries and ranging in size from 30 to 10,000 employees,” GPEC President and CEO Barry Broome said. “Clearly, the increasingly anti-business policies coming out of California, like Proposition 30, have struck a nerve with the state’s brightest and best-performing innovators. We think the Greater Phoenix region offers a clear contrast in terms of its value proposition, which is why we’ve expanded the program to 100 executives.”

Over the past two years, Arizona has implemented many business-friendly policies in an effort to attract more high-capital investment to the Grand Canyon state, according to the GPEC. Visiting CEOs will be briefed on the region’s business-friendly policies, including lower capital gains taxes and a corporate income tax rate that will go down to 4.9 percent by 2017, a $9,000 jobs tax credit, an R&D tax credit and a $630 million tax credit program for export industries.

Last week, California voters passed Proposition 30, a $6 billion tax initiative that will raise sales taxes on all Californians and income taxes on the high-performers making more than $250,000 annually. Earlier this week, President Obama called for additional tax revenue to the tune of $1.6 trillion over the next decade, also on the backs of the nation’s top innovators and professionals, according to a GPEC news release.

To qualify for the program, applicants must be CEOs at high-tech companies or with corporate facilities with 200 or more employees, or at emerging technology companies with compelling intellectual property.

A total of 100 qualified California CEOs will receive complimentary airfare, transportation and hotel accommodations.

Exclusive, one-on-one visits into the market will include an in-depth industry and market overview, CEO introductions and a regional asset tour, GPEC reports.

Contact GPEC’s Barbara Miller at 602-262-8632 or bmiller@gpec.org for more information about the program.

 

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