Marsha Kolich

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Marsha Kolich Office of Innovation Technology
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Challenges

• Gaps in
• Resources
• Opportunities
• Competition from
• Other states
• Other countries

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Challenges
Low Industrial Diversity
Industrial diversity index, U.S. 100 (2001)
Source Economy.com
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Challenges
Declining Ratio to US avg. Per Capita Income
AZ Per Capita Income as of U.S. (R)
Sources Bureau of Economic Analysis. County
Economic Presentations, AZ Statewide Economic
Study 2002. Long-term Economic Forecasts for AZ,
AZ Statewide Economic Study 2002.
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Successful Economic Development

• Is characterized by
• Globally competitive businesses
• Expansion of the tax base
• Per capita income on the rise
• Diverse industry base

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Commerce Functions

• Planning, Research and Policy
• Community Development
• Global Business Development
• Workforce Development

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8 Key Strategic Initiatives FY04

• Develop 10-year plan for economic development
• Increase services to small businesses statewide
• Broaden rural development efforts
• Increase support for business efforts to grow and
  train Arizonas workforce
• Develop strategies to protect Arizonas military
  bases
• Develop strategies to increase trade with Mexico
  and Latin America
• Improve Arizonas tech-focused entrepreneurial
  climate
• Strengthen statewide partnership in economic
  development

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