Chris Camacho, president/CEO for the Greater Phoenix Economic Council (GPEC), told the Town Council at a recent meeting that the Town receives return of 11:1 on its investment in economic development opportunities with GPEC.

He said for every dollar of investment the Town realizes $11 in direct revenue. This includes property, sales and utility taxes as well as state shared and other local revenues.

That equals $17.9 million in new consumer spending generated by new jobs in the community and employed Fountain Hills residents, according to Camacho.

GPEC’s mission is to attract and grow quality businesses and advocate for Greater Phoenix’s competitiveness. It is guided by two specific long-range strategic goals: marketing the region to generate qualified business/industry prospects in targeted economic clusters: and, leveraging public and private allies and resources to locate qualified prospects, improve overall competitiveness and sustain organizational vitality.

The Town is investing $11,707 in the current fiscal year to achieve the GPEC objectives.

Camacho reported that over the past 33 years GPCE’s impact on the regional economy is more than 950 regional locates, over 174,000 high-quality jobs and $36.6 billion in capital investment.

The public/private partnership effort works with 22 member communities, more than 190 private investors and Maricopa County to achieve its mission.

Camacho said GPEC offers its members a variety of services with a staff of business development professionals. Services include operating cost comparisons, connectivity to key resources, regional labor market data, economic impact analysis, site selection assistance and public relations assistance.

An overview of GPCE efforts FY23 includes 22 companies, $23.7 billion in capital investment, 4,812 jobs created in the region with an average salary of $85,625.

GPEC is currently working with 229 active prospects, with 113 in FY23, $120.5 billion in capital investment potential, 32,649 potential jobs in 38.5 million square footage potential. Some 23% of prospects are international and 12% are from California.

“The Town of Fountain Hills benefits from site location projects and GPEC activities that occur across the region,” Camacho said. “Economic development projects created value by generating public and private revenues.

“When a company selects a greater Phoenix location, all communities benefit with increased tax revenues.”