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Action Plan #GreaterPHXtogether Letter from Chris Camacho President and CEO, Greater Phoenix Economic Council What we experienced in FY22 was a new beginning. The world was challenged and changed by two years of uncertainty spurred by the COVID-19 pandemic. Our normal was redefined while our market shifted and found strength in the power of collaboration and unstoppable spirit. An agile response from the GPEC team and our partners across the region and a deliberate approach to diversify our economy over the last decade enabled us to once again drive a record number of jobs to the region, growing investments in Greater Phoenix in high-tech and emerging market sectors. Recognized as the top EDO globally by the International Economic Development Council, GPEC built upon momentum in the market to drive high-quality 1 “We are committed to maintaining our status as a best-in-class economic development organization and will expand our capabilities to bring positive outcomes to the region we serve – impacting one business, one job, one life at a time.“ development focused on equitable, dynamic and anti-fragile growth. As the world changes around us, we must adapt and lead. In FY23, GPEC embarks on the first year of its new strategic plan – envisioning Greater Phoenix as a national and international leader and building an economy that serves all residents. Tactics in this action plan articulate the ways we will execute upon the strategies enumerated in the three- year strategic plan. GPEC will continue to learn and grow. We are committed to maintaining our status as a best-in-class economic development organization and will expand our capabilities to bring positive outcomes to the region we serve – impacting one business, one job, one life at a time. 2 3 We are an inclusive, diverse family We are change agents We lead from the front We promote intellectual curiosity We remain on the edge We are tenacious We are agile and adapt to change We are committed to selfless service Our Values The GPEC Way Our Mission To attract and grow quality businesses, and advocate for Greater Phoenix’s competitiveness. 3 Our Vision Be the leading market driving innovation in a dynamic, anti-fragile and equitable economy that enables all residents to benefit and prosper. 4 GOAL 1 GOAL 2 GOAL 3 FY23-25 Strategic Plan Goals Three-year Strategic Plan Goals Lead an ambitious shared vision for the region’s economic future Enhance the foundation of the future economy with a focus on emerging and innovation-driven industry sectors Expand organizational capacity to serve the Greater Phoenix economic ecosystem and meet the needs of the market Action Plan Tactics Action Plan Tactics Strategic Plan Strategies Strategic Plan Strategies Action Plan Tactics FY24 FY23 Strategic Plan Strategies FY25 5 Strategies and Tactics Building on a comprehensive approach to economic development, FY23 will focus on working with partners to identify, articulate, and pursue objectives that will create impact on key economic imperatives and policy priorities. Continue working with peer organizations to understand, monitor, and refine coordinated efforts to address economic imperatives and make clear why these imperatives are vital to continued economic success for our region Convene the community to articulate a vision for the region’s future and inspire action around key economic imperatives Create a policy playbook to provide guidance on economic-development- enabling legislation Engage legislative and executive branch leadership on key policy issues Support economic development and transportation initiatives, including Prop. 400 Drive conversations around policy priorities that enhance the pillars of an innovation economy such as infrastructure, education and workforce development, smart and agile land use, and a capital-friendly environment Author thought leadership pieces to convey priorities for the region Continue to engage federally to advance national competitiveness focused on innovation industries Utilize GPEC’s network as advocates to carry key messaging throughout the market Be a leading voice regionally and nationally on economic development priorities and strategies STRATEGIC PLAN GOAL 1 FY23 Tactics Strategies 6 GPEC has maintained an aggressive approach to economic development and will continue to be laser focused on excelling and innovating on business attraction, branding and cluster development strategies. Fortify business attraction efforts to remain best-in- class and execute on sector- focused strategies Enhance the perception of the Greater Phoenix market as a premier location for people and businesses to live, grow and work Lead on data analytics and cutting-edge research capabilities to provide intelligence to clients and stakeholders Maintain strong ties in key international markets, specifically the APAC, European and North American regions Evaluate new markets and lead generation capabilities in strategic industries Continue robust outreach to business attraction multipliers such as site selectors and brokers Take advantage of key events in the region to increase brand recognition and competitiveness Explore partnerships that can enhance GPEC voice to drive #GreaterPHXtogether messaging Collaborate to create aftercare processes to ease transitions following client entry to market Evaluate outreach strategies to enhance engagement with GPEC Use novel data and analytics to identify emerging industries and high-wage sectors primed for growth Enhance abilities to proactively identify and assess risk and mitigating factors to expanding companies as part of GPEC’s consultative model Create an economic scorecard to measure and monitor the health of Greater Phoenix beyond top line economic indicators, incorporating diversity, equity and inclusion measures Provide intelligence to the market on key developments impacting key industries and competitiveness Strategies and Tactics STRATEGIC PLAN GOAL 2 FY23 Tactics Strategies 7 Align efforts with local partners to further enhance the entrepreneurial ecosystem Advance opportunities for growth in innovation infrastructure regionally Intensify support for regional entrepreneurship with a focus on equity, capital strategies and innovation in collaboration with regional partners 8 Named the top economic development organization globally in FY22, GPEC will build on successful strategies to enhance the organization’s influence and longevity, honing world-class talent and delivering value for the region. Pursue strategies to target high-level investor opportunities Drive and support pursuit of federal monies to support work focused on innovation infrastructure development Grow capacity through increased investment and diversified funding to provide resources that enable execution against strategic economic initiatives Continue to provide programming relevant to stakeholders through the ambassador program and regional reports to the market Evaluate means for real-time feedback from communities and partners on imperatives for the region and GPEC’s role in driving them Utilize the Community Partnership Program to work with communities to identify and address emerging needs Coordinate with key stakeholder groups to enable an agile response to the needs of Greater Phoenix Survey best-practices from peer organizations to demonstrate value the organization provides beyond business attraction efforts Evaluate organizational metrics to measure impact beyond business attraction Strategies and Tactics STRATEGIC PLAN GOAL 3 FY23 Tactics Strategies 9 Invest in and fortify internal capabilities through recruitment and professional development to maintain a best-in-class economic development team anchored in innovation Provide opportunities for GPEC staff members in-market and nationally to be elevated and recognized as experts in our field Continue to enhance and streamline platforms internally to ensure efficient and effective data management Review internal processes to ensure diversity, equity, and inclusion are top of mind Evaluate best practices and bylaws to ensure the GPEC’s Board of Directors remains high- caliber and activated to support the organizational mission Evaluate best practices and bylaws to ensure the GPEC’s Board of Directors remains high-caliber and activated to support the organizational mission Implement recommendations from the Ad Hoc Governance Committee of the Board of Directors to encourage best practices for board development and engagement 10 FY23 Metrics Contract Target Stretch Payroll (in Millions) $429.88 $477.64 $525.41 Jobs 7,683 8,537 9,391 - High-Wage Jobs 4,173 4,637 5,101 Average High-Wage Salary $64,198 $71,331 $78,464 Qualified Prospects 239 266 293 - Qualified International Prospects 43 48 53 GPEC Assists 10 12 14 GPEC calculated the metrics for FY23 based on historical performance and recent trends in office and industrial prospect activity. Prospect metrics have returned to pre-pandemic levels. Metrics 11 Budget Overview Income Approved FY23 Approved FY22 YOY Var. $ YOY Var. % City/County Contract Revenue $2,822,580 $2,793,743 $28,837 1% Pledge Revenue $3,783,476 $3,147,120 $636,356 20% New Pledges $500,000 $350,000 $150,000 43% In-Kind Contributions $140,500 $140,500 $- 0% Special Events & Programs $181,609 $181,400 $209 0% Sponsorship Income $281,000 $51,293 $229,707 448% Grant Income $- $225,062 $(225,062) (100%) Other Income $1,000 $1,000 $- 0% Total Income $7,710,165 $6,890,118 $820,047 12% Expenses Approved FY23 Approved FY22 YOY Var. $ YOY Var. % Business Development $716,878 $458,522 $258,356 56% Marketing & Communications $474,278 $480,510 $(6,232) (1%) Research & Analytics $261,720 $243,324 $18,396 8% Engagement $167,647 $157,868 $9,779 6% Strategy $67,680 $119,130 $(51,450) (43%) Regional Initiatives $249,235 $291,200 $(41,965) (14%) Operations $474,270 $467,279 $6,991 1% Personnel $5,072,166 $4,212,671 $859,495 20% Facilities $561,033 $530,133 $30,900 6% Special Events & Programs $181,609 $404,842 $(223,233) (55%) Total Expenses $8,226,516 $7,365,479 $861,037 12% Net Income/(Loss) $(516,351) $(475,361) $(40,990) 9% 12 Directors Council • Acronis SCS • Alaska USA Federal Credit Union • Alliance Bank of Arizona • American Airlines • American Express • Arizona Coyotes • Arizona Diamondbacks • Arizona Republic / LOCALiQ • Bank of America • Banner Health • Benchmark Electronics, Inc. • BMO Harris Bank • Brookfield Residential • CBRE • Chicanos Por La Causa • Clayco • Cousins Properties • Creighton University • Desert Financial Credit Union • Dignity Health • DMB Associates • EMD Electronics • Empire Southwest • Ernst & Young • Freeport McMoRan Inc. • Goodmans Interior Structures • Goodwill of Central and Northern Arizona • Grand Canyon University • Helios Education Foundation • Hensel Phelps Chairman’s Council Corporate Council Executive Council Investors • Honeywell Aerospace • HonorHealth • Intel • JE Dunn Construction • Kitchell • Knight-Swift Transportation • M Culinary • Mayo Clinic • MidFirst Bank • Mortenson • Oaktree Capital Management • On Q Financial • Perkins Coie LLP • Phoenix Suns • Pivotal Group • Polsinelli • Quarles & Brady • Rise48 Equity • Sherman & Howard • Snell & Wilmer • Squire Patton Boggs • Valley Metro • Valley of the Sun United Way • Weitz Company Leadership Council • Aerotek • Aetna • Archicon L.C. Architecture • Arizona Israel Technology Alliance • Baker Development • Bell Bank • Blue Cross Blue Shield of Arizona • Bridge Relocation Concierge • Bristol Myers Squibb • BRPH • Bryan Cave Leighton Paisner LLP • BRYCON Construction • Burns & McDonnell • Cancer Treatment Centers of America • CapRock Partners • Colliers International • Commonwealth Land Title National Commercial Services • Cresa • Crescent Crown Distributing • Crown Realty & Development • Cushman & Wakefield • Davis Architecture • Deloitte • De Rito Partners • Deutsch Architecture Group • DFDG Architecture • Dircks Moving & Logistics • DLR Group • DPR Construction • El Dorado Holdings • EmployBridge • Equality Health • Everest Holdings • FCL Builders • FirstBank • Flinn Foundation • Gammage & Burnham • Graycor Construction • Green Maple Law Group • hardison/downey construction • Hensley • Hines • Holualoa Companies • HotFoot Recruiters • Immedia • Irgens • JLL • Layton Construction • Lee & Associates • Lincoln Property Company • Meritage Homes • MST Solutions • Nationwide Realty Investors • Northern Trust • Okland Construction • Olsson • OneAZ Credit Union • Opus Development Company • Page • Partners Personnel • Phoenix Children’s Hospital • Rexco • RSM • Ryan Companies US Inc. • Savills • Silicon Valley Bank As of May 24th, 2022 13 • Skanska USA Building • SmithGroup • Social Television Network (STN) • Southwest Airlines • Southwest Gas Corporation • Spencer Fane LLP • Sunbelt Holdings • Sundt Construction • Suntec Concrete • Terracon • The Plaza Companies • Trammell Crow Company • Transwestern Commercial Services • TSMC Arizona • University of Arizona • USAA • ViaWest Group • Wespac Construction • Wexford Science + Technology • Willmeng Construction • Wist Office Products Ambassador • Air Products and Chemicals • Arizona Community Foundation • Atmosphere Commercial Interiors • AvenueWest Arizona Corporate Housing • Avnet Inc. • BNSF Railway • BOK Financial • Caliber Companies • Carvana • CoStar Group • Cypress Office Properties • Derek Builders • DSV Inventory Solutions • Enterprise & National Car Rental • Equity Land Group • Globe Corporation • Horrocks Engineers • Industrial Storage • KTAR • Lyft • Macerich • Mangat Group, Inc. • Merit Partners • Meta • Midwestern University • MSSBTA • National Bank of Arizona • Newmark Knight Frank • Northrop Grumman • Prologis • qBotica • RED Development • Saint Holdings • Sunstate Equipment Company • TerraCap Management • Trinity Capital Investment • Union Pacific Railroad • Van Trust Real Estate LLC Member Communities Tucson Sky Harbor International Airport Tempe Mesa Gilbert Chandler Apache Junction 17 17 40 8 60 60 202 24 202 101 51 101 101 303 30 Planned Extension 202 347 Casa Grande Maricopa Fountain Hills Scottsdale Phoenix Tolleson Glendale Youngtown Surprise El Mirage Peoria Buckeye Avondale Goodyear San Diego Los Angeles Las Vegas Albuquerque Flagstaff 85 0 Distance in Miles 5 10 s Wickenburg Gila Bend 30mi. NW of Surprise 30mi. SW of Buckeye 60 85 8 Queen Creek Phoenix-Mesa Gateway Airport 14 2 N. Central Ave. Suite 2500, Phoenix, AZ 85004 /// 602.256.7700 /// gpec.org