Goodyear, AZ Economic Development

Washington, DC – City of Goodyear & Merit Partners won a Silver Rank for its Loop 303 Industrial Corridor, a project in the category of Multi-Year Economic Development Program of the International Economic Development Council (IEDC).  The honor was presented today at an awards ceremony during the IEDC Annual Conference, which is currently underway.

IEDC's Excellence in Economic Development Awards recognize the world's best economic development programs and partnerships, marketing materials, and the year's most influential leaders. 25 award categories honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities. Awards are judged by a diverse panel of economic and community developers, following a nomination process held earlier this year. IEDC received over 500 submissions from 4 countries.

Since 2011 when the Arizona Loop 303 was completed and the first manufacturer, Sub-Zero, located in the PV|303, the following investments have been made:

●      17 advanced manufacturing and logistics companies and one farm office operations headquarters are operating along the Loop 303 corridor

●      A total of 8.4 M square feet has been constructed

●      Major employers have located in the area creating 5,800 jobs

●      New businesses have spent $1.68 B capital expenditures into the local economy

●      Five speculative buildings totaling more than 1.5 M square feet are under construction

The PV|303 Business Park is a 1,600-acre master planned business park located near the confluence of Interstate 10 and Loop 303 freeway in Goodyear, Arizona. PV|303 is the home of world-class businesses like Sub-Zero, Dicks Sporting Goods, REI, Ball Corporation, UPS, Amazon, and Microsoft.  PV|303 has been one of the most active business parks in the western portion of metro-Phoenix for the last decade. The first business located in 2011 and since that time development in this area has not stopped. Eighteen companies are now located here providing employment for thousands. In addition, nearly $1.7 billion in capital investment has been made on these properties which had previously been zoned agricultural exempt and therefore generated minimal property tax revenue. Now zoned for industrial use, the corridor is one of the highest property tax generating areas of our city. All taxing jurisdictions, especially the local school districts, have seen significant increases to their tax base in less than 15 years.

“The winners of IEDC’s Excellence in Economic Development awards represent the best of economic development and exemplify the leadership that our profession strives for every day,” said 2021 IEDC Board Chair and Invest Buffalo Niagara, President, and CEO Tom Kucharski. “We’re honored to recognize the more than 100 communities whose marketing submissions, projects, and partnerships have improved regional quality of life.”

We're incredibly honored to recognize the outstanding organizations that received this year's Excellence Awards. This year, more than ever, has presented opportunities to innovate, impact, and progress the cities, neighborhoods, and communities around us. Each of this year's recipients represents the best of the economic development profession and exemplifies the ingenuity for fellow economic developers to aspire to in the years to come.

 About the International Economic Development Council

The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 5,000 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities by creating, retaining, and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members engage in the full range of economic development experiences. Given the breadth of economic development work, our members are employed in various settings, including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions. Learn more at iedconline.org.

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