Manufacturing Grows In Arizona
3 Nov 2022
Paired with some of the lowest corporate and individual income tax rates in the nation, Arizona offers all companies a place to build at a lower cost. Companies such as Intel and Frito-Lay have expanded manufacturing to Arizona and are taking advantage of the incentives the state has to offer.
Not only does Arizona offer low income tax rates, but the state also provides strategic access to three of the world’s biggest economies: California, Texas, and Mexico. With a surging ecosystem and $3 million annually commited to the Arizona Innovation Challenge, which launched in 2011, the Grand Canyon state attracts global corporations and forward-thinking startups. By offering a variety of loans, grants, and tax credits for property tax reductions, companies can cut costs and increase revenue by utilizing state financial programs and incentives.