CDFA Arizona Financing Roundtable Newsletter - January 2017

CDFA Arizona Financing Roundtable Newsletter - January 2017
January 18, 2017



Feature
Lucid Motor's Receives Incentives to Build New AZ Factory Lucid Motor's intends to invest $700 million in an electric car factory that is projected to create 2,000 jobs in a distressed area. The project is being assisted by the county through the purchase of the site and the provision of $6.5 million in grants and $40 million in tax credits. Federal Grants Provided to Mitigate Effects of AZ Plant Closure Closing the Navajo Generating Station and a coal mine that provides the plant's fuel would lead to an estimated loss of 2,400 jobs in the community. About $330,000 in federal economic development grants are helping to develop a resilient local economy. IDEA Center Opens to Assist Innovators and Entrepreneurs The IDEA Center will offer free classes, workshops and business enterprise resources. City economic development partners are also onboard to help connect entrepreneurs to a larger business owner network and opportunities to access additional training and capital. Uber's Self-Driving Cars are Welcomed in AZ Uber had planned to test 16 self-driving Volvos in California, but the state revoked Uber's autonomous vehicle permits when the company did not obtain other permits required in the state. Instead, Uber has shipped its vehicles to Arizona to test their self-driving capabilities. AZ Has Potential to Improve Angel Investment Network Arizona has around 113,000 millionaires but only roughly 500 are angel investors. The Angel Investment Tax Credit program has helped to spur Angel investments in technology start-ups. This program has had an economic impact of $1.3 billion in Arizona. NMTC Coalition Urges Supporters to Sign Letter The NMTC Coalition is sending a letter to Congress urging leadership to protect the New Market Tax Credit. Please consider signing their letter if you support this important development tool.
Upcoming Events
Intro Tax Credit Finance WebCourse February 15-16, 2017 - Daily: 12-5 pm Eastern The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course will discuss the practical application of tax credit programs including brownfields, new markets, low income housing, historic preservation, and state-specific programs. Learn More About CDFA's Free Technical Assistance for Brownfields February 1, 2017 - 1:00 pm Eastern The Council of Development Finance Agencies (CDFA) offers free technical assistance to State, Local, and Tribal brownfield financing efforts. CDFA and partners provide resources and expertise related to revolving loan funds, tax credits, tax increment finance and other effective financing tools.
Arizona News
Regional Economic Development Successful in Northern AZ AZ Big Media \| Jan. 3 \| Economic Development AZ Economic Development is a Joint Effort AZ Big Media \| Jan. 2 \| Economic Development \| Energy Finance \| Infrastructure Finance >>> SEARCH HEADLINES
Sponsors
For information about sponsoring the CDFA Arizona Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.
The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.