Momentum: TREO's Newsletter

    
TREO Closes Fiscal Year with Solid Success
This past year can be characterized as both turbulent and productive for TREO—turbulent as a result of the challenges brought about by the uncertain economy, and productive because TREO was able to tackle many of the issues plaguing our region and offer both short and long-term solutions.

TREO Remains Aggressive in Tough Times
In this current recession, Arizona has emerged as a state with one of the worst budget deficits in the country, resulting in the near elimination of state level economic development tools. These cuts could have dramatic, possibly permanent, effects on the Tucson region’s ability to compete for jobs, capital investment, and new business development.

In response to this economic crisis, we created an action plan with clearly defined priorities to address strengthening the local economy and creating/maintaining jobs and spending. Learn more at www.treoaz.org/Tucson-Job-One.aspx.

High-Wage Job Development Continues
Within the framework of the Economic Blueprint, TREO employed a variety of strategies in Fiscal Year 2008-2009 to create primary or base jobs for the region. The primary initiatives centered on: business attraction, business expansion, and business creation.

TREO continues to aggressively pursue opportunities with a specific focus on four targeted industries: aerospace and defense, biosciences, solar, and transportation and logistics. The targeted industries, as identified in the Blueprint, represent our region’s best opportunity to create higher wage opportunities. Read further for FY2008-2009 highlights.

Click here to download a list of TREO program focus areas for Fiscal Year 2009-2010.


Activity Still High; Decision-Making Slows
The economic conditions over the past year have resulted in a slowdown of business development decisions primarily due to uncertainty and tight credit. However, we continue to receive great interest from site selectors and corporations in locating or expanding in Southern Arizona.

TREO's Business Development team remains busy responding to requests for information, managing client visits, and travelling on sales missions to recruit new companies.

Fiscal Year 2008-2009 Business Development Data
Special note: 63% of closed projects and 50% of the new jobs were in TREO's targeted industries. This means that TREO's strategy of focusing on targeted industries and quality jobs is resulting in higher wage job gains and new wealth generation. This is an improvement over prior years where a majority of jobs attracted were in the lower wage industries.