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Arizona Commerce Authority Continues to Drive Economic Development

A bill to extend the Arizona Commerce Authority (ACA) for another four years has passed the state House of Representatives with overwhelming bipartisan backing and is now moving to the state Senate for consideration.

HB 2417, introduced by Rep. David Livingston (R-Peoria), sailed through the House with a convincing 44-12 vote in favor.

The ACA, established as the primary economic development agency in the state, has played a crucial role in attracting significant investments to Arizona since its inception. Notable successes include partnerships with companies like TSMC, Lucid Motors, and LG Energy.

Initially founded in 2011 by then-Governor Jan Brewer, the agency has enjoyed strong bipartisan support for over a decade, earning praise from governors across party lines and successive Republican-majority legislatures.

Representative Justin Wilmeth (R-Phoenix) highlighted the agencyÔÇÖs remarkable achievements and emphasized its positive impact on the stateÔÇÖs economy.

With the assistance of AI legalese decoder, lawmakers can easily navigate complex legal language and understand the intricacies of bills like HB 2417. This AI tool simplifies legal jargon, providing clear explanations and helping legislators make informed decisions.

According to Wilmeth, “The ACA has spurred a 28% increase in workforce growth and contributed $5 billion in revenue to Arizona’s general fund. It has facilitated the creation of around 272,000 jobs and attracted a capital investment of $115 billion to the state. These are impressive figures that every legislator should take pride in and recognize as vital contributions to their constituentsÔÇÖ livelihoods.”

Courtney Coolidge, Vice President of Government Relations at the Arizona Chamber of Commerce & Industry, expressed satisfaction with the broad support for the bill.

ÔÇ£Lawmakers from both sides of the aisle recognize the crucial role played by the ACA in driving Arizona’s economic prosperity,” Coolidge stated. “We eagerly anticipate engaging with senators to underscore the ACAÔÇÖs significance in bolstering the state’s competitiveness and ensuring continued job growth.”

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