Economic Development in Arizona’s Communities

Prescott Valley’s role

Government Finance Officers Association of Arizona (GFOAz)

Winter Conference

Prescott, Arizona February 20, 2013

Town of Prescott Valley

Founded 1966

Incorporated 1978Population: 1,521

Circa 1970

Town of Prescott Valley

2002 - Economic Development Manager position created

Top Two Goals: Keep dollars in town Attract new dollars

Town of Prescott Valley

Business Attraction efforts

No Town-owned landDeveloper/landowner cooperationEnd UsersIncentives?

Results: FY 12 best retail sales everRetail Sales: $254.3M

Town of Prescott Valley 1993 Population 11,440 2012 Population 38,964 Increase 240%

1993 retail sales $65.1M 2012 retail sales $254.3M Increase 290%

Prescott Valley 2012

Town of Prescott Valley

Tourism/visitor effortsChamber of Commerce partnership Marketing Events

Example: AIA championships20,000 visitors in February February a leading hospitality month

Tim’s Toyota Center

Town of Prescott Valley

PVEDF and Town Partnership

501c4 membership organization Board elected by membership Contract with TOPV since 1996 TOPV only source of public funding

– PV-centric

Town of Prescott Valley

Contract – performance measures Marketing, trade shows etc. Exchange of information Cooperation and Collaboration

Town of Prescott Valley Regional Cooperation

Verde Valley – A Model?

Wine Industry Development Wineries, tasting rooms etc. New Spinoff Businesses Revitalized downtown Enology program at Yavapai College

Town of Prescott Valley Future Regional ED Group in

Western Yavapai County?

Private Sector-led effort Issues: Funding, Governance etc.