Yavapai County Industrial Development Authority (IDA) is a political subdivision of the State of Arizona that serves to promote development by being the issuing agency for bonds for private economic activities. IDAs were established under the Arizona Industrial Development Financing Act. In many cases, the bonds are tax-exempt, which makes them more attractive to investors. Board members for the IDA are appointed by the supervisors of the county, they represent or the council of the city or town they represent to six-year terms. Fees from these bonds issues are paid to the IDA, which in-turn uses them for other development activities. The types of projects funded by the IDA include but not limited to educational facilities; manufacturing operations; housing, and office buildings. These bonds are a valuable tool for the attraction and recruitment of larger employers to the Greater Prescott Region. For more information and contact information, please email GPREP at email@example.com.
The Community Development Block Grant (CDBG) is a United States Housing and Urban Development (HUD) program providing funds for housing and community development activities. CDBG funds are allocated to local and state governments on a formula basis. Larger cities and urban counties, called “entitlement communities” work directly with HUD. Incorporated cities and towns with a population fewer than 50,000 and counties with an unincorporated population under 200,000 are considered “non-entitlement” and the CDBG funds are administered by the state. In our region, Northern Arizona Council of Governments (NACOG) oversees the planning of annual allocations and provides technical assistance for application as well as project success.
NACOG also provides employers and communities’ access to economic development funding within the region. NACOG supports programs to assist economically distressed areas, planning regions, cities and counties to undertake significant economic development planning, policy-making, and implementation efforts.
NACOG is the operating entity for Workforce Innovation and Opportunity Act (WIOA) services in Yavapai County through the Arizona @ Work. You can access employment/training services from a single location at the Arizona @ Work One-Stop Centers in Prescott and Cottonwood.
Yavapai College Regional Economic Development Center
Customized Training for Regional Employers
The center offers customized training that provides contextual analysis of employer labor needs and design of local credentials to provide job-driven educational services.
Entrepreneurial Education and Resources
The Rural Center for Entrepreneurship is a business incubator providing specialty services in intellectual property rights, commercialization, and contracting products. The incubator is located at the YC Career and Technical Education Center and is open to students and community entrepreneurs.
Arizona has lowered taxes, streamlined regulations, and established a suite of incentive to support corporate growth and expansion. The Arizona Competitiveness Package, groundbreaking legislation adopted in 2011, makes it easier for existing Arizona companies to prosper and establishes Arizona as one of the most desirable places for expanding companies to do business. Give your company a competitive edge by utilizing Arizona’s incentives.