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Arizona Business Gazette from Phoenix, Arizona • BG4

Location:
Phoenix, Arizona
Issue Date:
Page:
BG4
Extracted Article Text (OCR)

4BG THURSDAY, DECEMBER 26, 2019 ARIZONA BUSINESS GAZETTE Regional Report Gilbert ranks near the top on two re- cent national surveys that go hand in hand: safety and livability. The East Valley town of about 250,000 residents was named the fourth-safest city in end- of-year list, and the 12th most livable city in the country by SmartAsset. Sev- eral other Phoenix-area cities, including neighboring Chandler, also ranked well. safety list evaluated 182 U.S. cities on categories of home and community safety, natural disaster risk and factors.

liv- ability rankings considered walkability, crime rates, unemployment rates, pop- ulation density and housing costs. think that worked really hard over many years to improve the quality of life in Gilbert and to ensure that our community is safe and that our families and businesses are experiencing pros- Mayor Jenn Daniels said of the rankings. Safety, walkability and ease of life Gilbert bills itself as a young, family- oriented and well-educated town. Ac- cording to its of Economic Devel- opment, the median age is 33.6. Nearly half of residents over 25 have earned at least a degree.

Gilbert is also home to high-achiev- ing school districts. In Alarms.org’s 2018 ranking of the best school districts in America, Gilbert District placed fourth mainly because of its funding, low dropout rate and high test scores. Higley School District also routinely ranks high in state testing The town is expanding its recreation amenities. In the past few months, Gil- bert has invested millions in two major new parks, Gilbert Regional Park and Desert Sky Park. Walkability is strong in areas such as the busy downtown Heritage District and the unique master-planned urban agricultural community of Agritopia.

Daniels said Gilbert is a livable town because of its She said residents move there because they want to live in a place like Gilbert. They then expect and contribute to the high quality of life that drew them to the town initially, she said. Daniels credited high score for safety to the strong partnership be- tween the community and the public safety teams. a real recipro- cal relationship and I think one that ev- eryone she said. median household income is more than $87,000, according to 2013- 2017 U.S.

Census data. Phoenix and Mesa, by comparison, have median household incomes of $52,000. The statewide median house- hold income is just over $53,000, ac- cording to 2013-2017 census data. In addition to its proximity to jobs in neighboring Valley cities, Gilbert itself hosts a number of big-name employers. Tech company Go Daddy employs more than 1,400 in Gilbert.

Dignity Health and Banner Health each provide the town nearly 1,000 jobs. Marketing company Isagenix Interna- tional employs over 700. Columbia, Maryland, Yonkers, New York, and Plano, Texas ranked above Gilbert in end-of-year list of the safest cities in America. Eight other Arizona cities were ranked in the list of 182 safest cities: Chandler: 9th Scottsdale: 12th Peoria: 15th Mesa: 34th Tempe: 45th Glendale: 55th Phoenix: 118th Tucson: 161st In list, the place livable city was Arlington, Virginia, fol- lowed by Plano, Texas, and Fremont, California. The only other Arizona city to break into the top 20 in the livability ranking was Chandler, in 14th place.

This is not the time Arizona cit- ies have shone in national rankings. In July, for example, Gilbert was named the seventh best place in Amer- ica to raise a family in another WalletH- ub study. Scottsdale ranked ninth on that list followed by Chandler in 17th place. And in the West Valley, Money Maga- zine ranked Goodyear the best place to live in Arizona and the 22nd of 50 best American cities in which to live. Have a story about Mesa or Gilbert? Reach the reporter at Alison.Steinbach@arizonarepublic.com or at 602-444-4282.

Follow her on Twitter Gilbert ranks highest on safety, livability Alison Steinbach Arizona Republic USA TODAY NETWORK Gilbert ranks high for safety and livability. MARK REPUBLIC A legislative committee responsible for oversight of hundreds of millions of dollars in income tax credits has not met since 2015. How have those tax credits worked out? It was hard to tell when members gathered for a rare meeting on Thurs- day. The panel of lawmakers asked how many jobs Apple created at a Mesa data center constructed with the help of a tax credit. from the Arizona Com- merce Authority answer.

How much water are farmers saving with a tax credit to encourage irrigation No clue on that, either. And lawmakers could not calculate how many students received help with private school tuition costs under a $6 million tax break intended to aid chil- dren with disabilities or living in foster care. really not getting much out of you Rep. Pamela Powers Hannley, D-Tucson, told a duo of from the Arizona Commerce Authority, which manages some of the tax incen- tives. The state more than 50 income tax credits, which added up to around $600 million during the year that ended in mid-2018.

Critics of the list of tax credits argue this is money Ar- government is giving up instead of spending on other pressing concerns, such as public schools or roads. Some are well-known, such as the family tax credit. Other credits are used by one or two businesses or by no one at all. But many of these credits do not include any performance measures, leaving lawmakers with a dearth of data to analyze whether these breaks are ful- a purpose or are just ways to skip out on paying taxes. Democrats and Republicans alike on the Joint Legislative Income Tax Credit Review Committee expressed their puz- zlement with a system that is something of a black box.

Some data from the myriad tax credits are due to tax- payer privacy rules while other data are kept secret for proprietary reasons. Some potentially important seem to be unavailable simply because no one has ever asked. Apple, for example, is the only com- pany the state has approved to use a particular tax credit for facilities with renewable energy. The state will not disclose the cost of the tax credit, though it is worth up to $5 million a year. And while the Arizona Commerce Authority has approved Ap- ple under criteria set out as conditions for receiving the credit, the agency says it cannot share some details with the Legislature, such as the number of jobs created at the facility.

Meanwhile, 108 taxpayers used a tax credit to pay for water-saving agricul- tural equipment at a total cost of $2.7 million last year. Those using the credit must submit a plan to the federal government, but the state is not gathering data on how much water the program is saving or whether the plans are worthwhile. The committee voted to require data on water savings as part of the credit. Mesnard said he would sponsor legisla- tion during the coming session to in- clude the requirement in law. The committee also voted to end two tax credits that it appears few taxpayers are using.

That includes the Agricultural Pollu- tion Control Equipment Credit. Compa- nies that raise crops or cattle can claim the credit on up to of the cost of purchasing equipment to control or pre- vent pollution. Each credit is capped at $25,000. It was used by four individual taxpayers in year 2019, for a total of $16,225. But unlike with a similar credit for other industries, the equipment does not need to meet or exceed federal envi- ronmental regulations.

The committee also recommended ending the Healthy Forest Enterprise Employment Credit, which has not been used since the year that ended in mid-2018. Companies that harvest, process or transport forest products like timber or wood chips can claim the credit on a portion of the wages paid to certain em- ployees, subsidizing hiring in the industry. Eight businesses were un- der the program as of 2018. A report by the Joint Legislative Budget Committee said it seems unlikely the tax credit has had more than a negligible impact on new investment, job creation and reten- tion. Still, the votes are only recommendations.

The Legislature has the say. Tax credits can be particularly politi- cal prizes, carved out at the Legislature as incentives for perhaps a few favored businesses or an entire sector of the economy that has a good lobbyist or strong lawmaker behind it. Repealing a tax break can be compli- cated as it would mean rais- ing taxes and, in turn, require approval from two out of three members voting in each chamber, rather than simple ma- jorities. Contact Andrew Oxford at andrew.oxford@arizonarepublic.com What does Arizona get for $600M in tax breaks? Andrew Oxford Arizona Republic USA TODAY NETWORK Critics of the Arizona's tax credits argue the government is giving up money instead of spending on priorities such as public schools and roads. THE REPUBLIC Raise your hand if you feel about your Not feeling it? OK.

Perhaps among the of Americans living paycheck to paycheck, or one of the 81.6 million paying stu- dent loan debt. hard to feel when your loan balance seem to budge and through the couch cushions for spare change to put gas in your car. But you can gain some control over your bit by bit, until that comes. These six empowering money moves will help you build momentum with small gains. Track spending for a month Knowledge is power when it comes to Still, most people know exactly where their money goes.

Track- ing your spending for one month will help you identify habits and spot excess expenses, says Colin Walsh, CEO of Va- ro, an online bank. keeping track of each and every purchase you make you can more eas- ily start to see how small purchases here and there add Walsh says. Once you know where your money is going, you can make informed decisions about where you want it to go, giving you a sense of purpose with your spend- ing. You might even decide to keep on tracking. Switch to a high-yield savings If already doing the hard work of saving, why not make money on your money? Most savings accounts earn minimal interest the average annual percent- age yield is just 0.09% but several of- fer close to interest.

the that can make: If you have $1,000 in a savings account with an APY of 0.09%, earn a measly $4.51 over years. In a APY account, that same $1,000 would earn about $105. Increase your credit score First things If you know your credit score, start there. Several credit card issuers and personal websites free credit scores, so you can monitor it regularly and keep tabs on your progress. You can get your full credit report for free every year from each of the three credit bureaus using AnnualCreditRe- port.com.

(Note: Checking your credit report does not hurt your credit score.) Now, look for ways to increase your score. A few ideas: Check for errors on your report and dispute any you with the credit bu- reau. Lower your credit utilization (the percentage of your credit card limit that you use) by paying down cards or in- creasing your credit limits. Become an authorized user on a or credit card. You can use a credit score simulator to learn ways to boost your credit score.

Pay off one loan or credit card Ever feel like throwing money at your debt, but the balances never seem to go down? Instead of trying to pay them all at once, direct your en- ergy at one debt, while making the mini- mum payments on the rest. You can tackle your debt in order from the smallest to largest balance to net some quick wins, or get rid of your most expensive debt by focusing on the account with the highest interest rate. Plan for expenses You plan for every expense, but there are some you can see coming. Homeowners, for example, can antici- pate things like property taxes and cer- tain repairs. Feel empowered, less worried with these money tips If in debt, tackle it with discipline Kelsey Sheehy NerdWallet.

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Pages Available:
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Years Available:
2001-2024