The Greater Phoenix Economic Council has a new plan to attract California businesses to the Valley.

From Phoenix, KJZZ’s Steve Goldstein reports.

STEVE GOLDSTEIN: Last week, California voters approved Proposition 30—which will raise income taxes on the state’s residents who make more than $250,000 a year. In response, the Greater Phoenix Economic Council—or GPEC—created the California 50 plan to pay for 50 qualified California-based CEOs to check out the Valley for business-growth opportunities. GPEC President and CEO Barry Broome says the Phoenix area is the perfect fit for a California company looking to leave the Golden State.

BARRY BROOME: The 54-minute flight from L.A., the 50-minute flight from San Diego, the 1:40-minute flight from San Francisco. You can move teams here and still go back and work and manage the company from the California market pretty easy. As soon as you move to Austin or Dallas, you start putting four, four and a half hours between you and the California market.

GOLDSTEIN: Broome says GPEC has identified seven promising opportunities as part of the California 50 initiative.