The Arizona Commerce Authority has announced results of its first five-year business plan. In 2012, after the public-private authority replaced a state agency, it released a five-year business planfocused on supporting job creation and boosting average wages.
Since then, Commerce Authority President and CEO Sandra Watson said companies have committed to creating 87,132 jobs. That’s 12,000 more than the authority’s goal.
“We’re incredibly pleased with the results of the last five years,” she said.
The Commerce Authority offers different incentive programs to businesses that meet various requirements. Qualified companies that take advantage of the Quality Jobs Tax Credit Program can get a $9,000 credit for each job that pays more than the median wage. In Maricopa County, the program lists $35,760 as the annual median wage.
“A high quality job generally is a job that pays 125 to 150 percent or above the median wage,” Watson said.
She said the projected new jobs will pay an average annual salary of $52,577. That’s below its goal of $53,803.
“We always want to do better,” she said. “We are always looking at making those wages go up. Our goal is to make sure Arizonans have great jobs.”
Between fiscal years 2013 and 2017, the Commerce Authority said companies committed to $9.5 billion in capital investment. That’s $3.5 billion more than the authority’s goal.
Tune in to The Show on KJZZ from July 31-Aug. 3 for our upcoming series, Phoenix At Work: Defining and Finding High-Wage, Quality Jobs.
