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- All Subjects: Arizona--Economic conditions
- Creators: Rex, Tom R.
- Creators: Leff, Barbara
Following an analysis of economic conditions, this paper examines actions that can be taken by state governments to stimulate the economy. The only action that results in a significant near-term effect is to accelerate spending on physical infrastructure that has already been identified as needed.
The mission of the Ad Hoc Committee on Arizona's Business Climate was to look at the critical issues of business development, retention and expansion in Arizona. Between the months of August 2001 and December 2001, the Committee met in various locations throughout the State to hear from those directly involved with business and economic development. The goal was to find what Arizona is doing right and to identify areas that need improvement to make this the best place in the country in which to do business.
The condition of Arizona’s infrastructure has a direct impact on economic productivity and quality of life. As economic competition expands domestically and globally, and as the knowledge economy evolves, the importance of a strong infrastructure increases. Education, in particular, is of growing importance. Arizona’s infrastructure challenges will require commitment and creativity to meet the needs and potential of 10 million people and to ensure a positive future for the state.
Arizona’s total value of international exports as a share of gross product was 33rd highest among the 50 states and District of Columbia in 2012. Arizona ranked 36th for manufactured goods. In 1997, Arizona had ranked eighth overall and ninth for manufactured goods. The state’s large relative decline in export share can be traced to its sizable relative decrease in its manufacturing sector. In particular, the electronics manufacturing subsector’s share of total GDP has dropped considerably.