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- All Subjects: Finance, Public
- All Subjects: High technology
- Creators: Arizona Indicators (Project)
Innovation—introducing something new—in the 21st century mostly derives from technological advances. Innovation drives the modern economy, leading to gains in productivity and prosperity. In this edition of Indicator Insight, author Tom Rex discusses innovation in Arizona in terms of human capital, financial capital, and high-technology employment.
Public finance—taxes and other revenues collected by government and the expenditure of those revenues—always has been somewhat controversial because of wide philosophical differences among residents regarding the role that government should play in providing public services and in collecting taxes and fees from its residents. Recently, public finance in Arizona has become a prominent public issue due to the need to resolve the deficits that afflict state government and most county and municipal governments in Arizona.
Author Tom Rex discusses how the long downward trend in high-technology industries in Arizona continued over the last decade.
Numerous tax cuts over the last 15 years have substantially reduced revenue to the Arizona state general fund and greatly narrowed the tax base.