Friday, Sep 30 2011 3:47PM
The ACA will grant $2 million per year for rural growth
The Arizona Commerce Authority (ACA), a public-private sector organization aiming to bring more jobs and companies to the state, will be in talks with 10 companies during the next few months about adding 3,000 new jobs and investing $300 million in capital, The Arizona Republic reports.
Since the end of 2007, Arizona has cut approximately 300,000 jobs, the paper reports. While this year job growth increased in the state, economist Jim Rounds doesn't expect a full recovery until at least 2015.
Don Cardon, authority president and CEO of ACA, is hopeful that Arizona can regain the jobs lost during the recession.
"We are not sitting around waiting for the phones to ring," he said. "We are driving the effort."
According to the news source, Cardon laid out key plans during a board meeting. Two major investments the ACA will include an $18 million fund to support small business growth, particularly to firms with 10 to 12 employees that plan on adding more people to their staff. Also, Cardon mentioned the agency will invest $2 million per year to encourage job growth in rural areas.
For further reference, check out these sources:
The Arizona Republic,
Arizona Commerce Authority