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GREATER PHOENIX ECONOMIC COUNCIL
Action Plan
FY25
gpec.org // 602.256.7700
“
Chris Camacho
Letter from
President & CEO
As we enter the third and final year of GPEC’s
FY23-FY25 Strategic Plan, I am filled with
optimism for the future of Greater Phoenix.
Over the past year, we have made great
progress in executing against our vision of a
future economy grounded in innovation,
dynamism, anti-fragility and equity. Through
intentional planning and collaboration across
GPEC’s public and private partners, Greater
Phoenix has become a dynamic ecosystem
where startups, legacy companies and the
vibrant impacts of arts and culture intersect to
drive growth and connectivity.
This intersection is key to our success and sets
us apart as a region that others across the U.S.
look to for inspiration. We now have the
opportunity to fortify the region by focusing
on emerging and innovation-driven sectors,
furthering this prominence nationally and
internationally as global eyes shift towards
Greater Phoenix.
Our unique public-private model is
instrumental in ensuring our work has a
tangible impact on our communities while
building a stronger economic future. It
allows us to collaborate effectively,
leveraging strengths and resources to create
a region where everyone has the
opportunity to succeed. I want to extend my
gratitude to our community partners, board
members and private sector investors for
their dedication to advancing Greater
Phoenix's prosperity.
The tactics outlined in this action plan will
forward Greater Phoenix as a leading market
that drives innovation, fosters creativity and
creates equitable opportunities. Thank you
for your continued partnership and
dedication to our shared vision.
Dear Partners and Stakeholders,
The tactics outlined in this
action plan will forward
Greater Phoenix as a
leading market that drives
innovation, fosters
creativity and creates
equitable opportunities.
2
FY25 ACTION PLAN
We are tenacious
We are change agents
We lead from the front
We remain on the edge
We are agile and adapt to change
We promote intellectual curiosity
We are an inclusive, diverse family
We are committed to selfless service
To attract and grow
quality businesses,
and advocate for
Greater Phoenix’s
competitiveness.
The GPEC Way
Our Mission
Our Values
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
FY25
FY24
FY23
Strategic Plan
Strategies
Action Plan Tactics
Strategic Plan
Strategies
Action Plan Tactics
Strategic Plan
Strategies
Action Plan Tactics
FY25 ACTION PLAN
5
FY23-25 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
Three-year Strategic Plan Goals
FY25: Strategic Plan Goal 1
FY25 ACTION PLAN
Lead an ambitious shared vision for the region’s economic future
Convene the community to articulate a vision for the region’s
future and inspire action around key economic imperatives
Illustrate the past-present-and future of the region with a proactive pro-
growth, pro-community vision
Engage local champions to advocate for an innovation economy that drives
long-term competitiveness and prosperity
Align with partner organizations to generate or support coordinated action
that drives outcomes addressing regional imperatives
Ensure federal dollars from key investment programs flow to support
opportunity cluster development in Greater Phoenix
Execute on current grant awards
Support critical economic development initiatives such as Prop 479, programs
enhancing grid capacity and sustainability, water resiliency, and air quality
Tactics:
Strategy 1:
Strategy 2:
Tactics:
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
6
FY25 ACTION PLAN
FY25: Strategic Plan Goal 1
Lead an ambitious shared vision for the region’s
economic future
Be a leading voice regionally and nationally on economic development priorities
and strategies
Continue to assess and share regional health metrics through the economic monitor tool and
thought leadership series to educate regional partners on areas of opportunity
Develop and disseminate data-based, clear, and concise narratives addressing water, energy-
grid stability, air quality and other key components of a strong economic development
foundation
Engage media and key multipliers out of market to familiarize audiences nationally and
internationally with the Greater Phoenix region value proposition
Tactics:
Strategy 3:
7
Tactics:
FY25 ACTION PLAN
8
Fortify business attraction efforts to remain
best-in-class and execute on sector-
focused strategies
FY25: Strategic
Plan Goal 2
Enhance the foundation
of the future economy
with a focus on emerging
and innovation-driven
industry sectors
Intensify outreach in key global regions including
Europe and the APAC region
Elevate the GPEC team specialization on industries
such as Aerospace, Biosciences, and Climate
Technologies
Support unique programming and tools that
promote soft-landing for foreign companies new
to the market
Enhance and evolve community partnerships to
anticipate the future of land use needs
Brand as a premier location for future-focused
industries, identifying opportunity industries that
are targets for growth
Strategically enhance marketing to drive global
recognition for the region
Strategy 1:
Strategy 2:
Tactics:
Enhance the perception of the Greater Phoenix
market as a premier location for people and
businesses to live, grow and work
Tactics:
FY25 ACTION PLAN
FY25: Strategic Plan Goal 2
Enhance the foundation of the future economy with a focus
on emerging and innovation-driven industry sectors
Lead on data analytics and cutting-edge
research capabilities to provide intelligence
to clients and stakeholders
Strategy 3:
Strategy 4:
Develop strategies to incorporate AI and data
integrations to enhance analysis capabilities
and dissemination of key market activities
Bolster core capabilities and internal platforms
to drive lead prospecting and conversions
Leverage unique partnerships to enhance data
analysis and reporting to grow audience
Align with startup ecosystem partners to
coordinate additional resources and programming
for local companies
Increase awareness of growth markers and key
investments into local companies
Tactics:
Intensify support for regional entrepreneurship
with a focus on equity, capital strategies and
innovation in collaboration with regional
partners
9
Tactics:
FY25 ACTION PLAN
FY25: Strategic
Plan Goal 3
Expand organizational
capacity to serve the
Greater Phoenix economic
ecosystem and meet the
needs of the market
Grow capacity through increased investment
and diversified funding to provide resources
that enable execution against strategic
economic initiatives
Strategy 1:
Strategy 2:
Clearly and consistently demonstrate stakeholder
value and engagement with GPEC initiatives
Leverage relationships to connect with new
investors outside of the GPEC network
Seamlessly integrate new partners in the region
Focus on high-value engagement opportunities
with stakeholders such as strategic councils,
roundtables and international delegation visits
Align GPEC Ambassador programming with
industry targets
Continue to utilize the Community Partnership
Program the generate creative solutions and
embody a collaborative metro region
Highlight the region as a leader for innovative
technologies to address global issues
Tactics:
Coordinate with key stakeholder groups to
enable an agile response to the needs of
Greater Phoenix
10
Tactics:
FY25 ACTION PLAN
11
FY25: Strategic Plan Goal 3
Expand organizational capacity to serve the Greater Phoenix economic ecosystem and
meet the needs of the market
Evaluate organizational metrics to measure
impact beyond business attraction
Strategy 3:
Evaluate marketing and branding metrics as well
as how to capture value outside of core metrics
including the importance of arts, culture, and
lifestyle enhancements
Continue to seek national recognition for the
region, organization, and individuals as leaders in
their field
Formalize processes for professional
development, onboarding, and ongoing trainings
Tactics:
Strategy 4:
Invest in and fortify internal capabilities through
recruitment and professional development to
maintain a best-in-class economic development
team anchored in innovation
Strategy 5:
Evaluate best practices and bylaws to ensure the
GPEC’s Board of Directors remains high-caliber
and activated to support the organizational
mission
Leverage the GPEC board and other stakeholder
expertise to educate and execute on policy
priorities
Tactics:
Contract
Target
Stretch
Payroll (in Millions)
$421.10
$467.88
$514.67
Jobs
7,201
8,002
8,802
High-Wage Jobs
3,813
4,236
4,660
Average High-Wage Salary
$70,235
$78,039
$85,843
Qualified Prospects
233
259
285
Qualified International Prospects
43
48
53
GPEC Assists
10
12
14
Community ROI (1)
23:1
25:1
27:1
Stakeholder Satisfaction with Business Attraction (2)
7.0
7.3
7.6
Stakeholder Satisfaction with Competitive Position (2)
7.0
7.3
7.6
GPEC calculated the metrics for FY25 based on
historical performance and recent trends in office
and industrial prospect activity.
1 ROI is calculated as a ratio of direct revenue from GPEC locates divided by funding from GPEC member communities
2 Average result from respondents of EDDT and Board of Directors end-of-year surveys
Metrics and
Budget Overview
FY25 ACTION PLAN
12
Revenues
Proposed
FY2025
Approved
FY2024
YOY
Var. $
YOY
Var. %
City/County Contract Revenue
$3,027,872
$2,863,157
$164,715
6%
Pledge Revenue
$4,307,850
$4,020,525
$287,325
7%
New Pledges
$425,000
$425,000
$ -
0%
In-Kind Contributions
$140,500
$140,500
$ -
0%
Special Events & Programs
$130,000
$202,000
$(72,000)
(36%)
Sponsorship Income
$280,000
$320,000
$(40,000)
(13%)
Grant Income
$279,122
$ -
$279,122
0%
Other Income
$14,560
$1,000
$13,560
1356%
TOTAL REVENUE
$8,604,904
$7,972,182
$632,722
8%
Expenses
Proposed
FY2025
Approved
FY2024
YOY
Var. $
YOY
Var. %
Business Development
$831,973
$772,695
$59,278
8%
Marketing & Communications
$586,823
$538,268
$48,555
9%
Research & Analytics
$331,034
$297,988
$33,046
11%
Engagement
$168,197
$168,197
$(0)
(0%)
Regional Initiatives
$279,185
$245,365
$33,820
14%
Operations
$504,784
$467,681
$37,103
8%
Personnel
$5,265,200
$4,972,596
$88,934
2%
Facilities
$490,988
$577,001
$(86,013)
(15%)
Special Events & Programs
$439,122
$249,000
$190,122
76%
TOTAL EXPENSES
$8,897,305
$8,288,791
$608,515
7%
NET INCOME/(LOSS)
$(292,401)
$(316,609)
$24,207
(8%)
TO WICKENBURG
TO GILA BEND
13
FY25 ACTION PLAN
Our Communities
Include 22 member communities,
Maricopa and Pinal counties
Apache Junction
Avondale
Buckeye
Casa Grande
Chandler
El Mirage
Fountain Hills
Gila Bend
Gilbert
Glendale
Goodyear
Maricopa
Mesa
Peoria
Phoenix
Queen Creek
Scottsdale
Surprise
Tempe
Tolleson
Wickenburg
Youngtown
Builder Level
Air2o
American Airlines
Arizona Coyotes
Arizona Diamondbacks
Array Technologies
Bank of America
Banner Health
Benchmark Electronics, Inc.
BMO Harris Bank
BOK Financial
Brookfield Residential
CBRE
Chicanos Por La Causa
Clayco
Cousins Properties, Inc.
Creighton University
Desert Financial Credit
Union
Dignity Health
DMB Associates
Dorsey & Whitney
DSV
EMD Electronics
Empire Southwest
Equity Land Group
Holdings/Arizona Land
Consulting
Ernst & Young
Freeport McMoRan Inc.
Global Credit Union
Goodmans Interior
Structures
Goodwill of Central and
Northern Arizona
Grand Canyon University
Helios
Hensel Phelps
Honeywell
HonorHealth
IdealabX
Advocate Level
Intel Corporation
JE Dunn Construction
Kitchell
M Culinary
Mayo Clinic
MidFirst Bank
Modern Industries
Mortenson
Oaktree Capital
Management
Olsson
ON Advertising
Perkins Coie LLP
Phoenix Suns and Phoenix
Mercury
Pivotal Group
Quarles & Brady
Sherman & Howard
Snell & Wilmer LLP
U.S. Bank
Valley Metro
Valley of the Sun United
Way
Vitalant
Weitz Company
Western Alliance Bank
Alston Construction
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
Brycon Construction
Burns & McDonnell
CapRock Partners
CG Schmidt
Colliers International
Commonwealth Land Title
National Commercial
Services
Cresa
Crescent Crown
Distributing
Cushman & Wakefield
Davis Architecture
De Rito Partners
Deloitte
Deutsch Architecture Group
DFDG Architecture
Dircks Moving & Logistics
DLR Group
DP Electric
DPR Construction
El Dorado Holdings
EmployBridge
Enterprise Bank & Trust
Equality Health
Everest Holdings
FCL Builders
FirstBank
Flinn Foundation
Gammage & Burnham
GCON
Gensler
Global Roofing Group
Gray Construction
Graycor Construction
Green Maple Law Group
Haydon Building Corp
HDR
Hines
Holualoa Companies
HotFoot Recruiters
Howard Hughes
Corporation
Hunt, Guillot & Associates,
LLC
Immedia
Irgens
JLL
Land Advisors Organization
Lee & Associates
Lincoln Property Company
Mack Real Estate Group
Mastek
Meritage Homes
Nationwide Realty Investors
Off Madison Ave
Okland Construction
OneAZ Credit Union
Opus Development
Company
Page
Partners Personnel
Pathward
Phoenix Children's Hospital
Phoenix Raceway
Polsinelli
Professional Piping Systems
Pureflow Inc.
Reseco Advisors, LLC
Resolution Copper
Rexco
Rider Levett Bucknall
RK Logistics Group
RSM
Ryan Companies US Inc.
Silicon Valley Bank
Skanska
SmithGroup
Social Television Network
(STN)
Southwest Airlines
Southwest Gas Corporation
Spencer Fane LLP
StarPoint Properties
Sunbelt Holdings
Supporter Level
Sundt Construction
Suntec Concrete
Systems Evolution, Inc.
Companies (SEI)
Taiwan Semiconductor
Manufacturing Company
Terracon
The PENTA Building Group
The Plaza Companies
The Wood Veneer Hub
Trammell Crow Company
Transwestern Commercial
Services
University of Arizona
USAA
Verizon Wireless
ViaWest Group
Wespac Construction, Inc
WestPac Wealth Partners
Wexford Science +
Technology
Willmeng Construction
Wist Office Products
Air Products and Chemicals,
Inc.
Arizona Community
Foundation
Atmosphere Commercial
Interiors
Avnet Inc.
BNSF Railway
Caliber Companies
Carvana
Cawley Architects
Chicago Title Insurance
Company - Arizona
City of Hope
Clune Construction
Comcast Business
Commercial Properties, Inc.
Conceptually Social
CornerStone Staffing
CoStar Group
Cypress Office Properties
Desert Investment
Management
Exro Technologies
Globe Corporation
Industrial Storage
Keyser
KTAR
Macerich
Merit Partners
Meta
Midwestern University
Mohr Partners
MSS Business
Transformation Advisory
National Bank of Arizona
Newmark
Northrop Grumman
Pinnacle Bank
Prologis
RED Development
Sunstate Equipment
Company
The Austin Company
Trinity Capital Investments
Union Pacific Railroad
VanTrust Real Estate LLC
WhiteHaven
Champion Level
Accelerator Level
Investors
Visionary Level
As of May 20th, 2024
14
FY25 ACTION PLAN
Connect. Engage. Listen. Share.
15
Engage with us year-round for timely updates
on the innovative ways we’re advancing
Greater Phoenix, together.