Economic Development in Arizona’s Communities Prescott Valley’s role Government Finance Officers Association of Arizona (GFOAz) Winter Conference Prescott, Arizona February 20, 2013

Town of Prescott Valley Founded 1966 Incorporated 1978 Population: 1,521

Circa 1970

Town of Prescott Valley Economic Development Manager position created Top Two Goals:  Keep dollars in town  Attract new dollars

Town of Prescott Valley Business Attraction efforts No Town-owned land Developer/landowner cooperation End Users Incentives? Results: FY 12 best retail sales ever Retail Sales: $254.3M

Town of Prescott Valley  1993 Population 11,440  2012 Population 38,964  Increase240%  1993 retail sales $65.1M  2012 retail sales $254.3M  Increase 290%

Prescott Valley 2012

Town of Prescott Valley Tourism/visitor efforts Chamber of Commerce partnership  Marketing  Events Example: AIA championships 20,000 visitors in February February a leading hospitality month

Tim’s Toyota Center

Town of Prescott Valley PVEDF and Town Partnership  501c4 membership organization  Board elected by membership  Contract with TOPV since 1996  TOPV only source of public funding – PV-centric

Town of Prescott Valley  Contract – performance measures  Marketing, trade shows etc.  Exchange of information  Cooperation and Collaboration

Town of Prescott Valley Regional Cooperation Verde Valley – A Model? Wine Industry Development  Wineries, tasting rooms etc.  New Spinoff Businesses  Revitalized downtown  Enology program at Yavapai College

Town of Prescott Valley Future Regional ED Group in Western Yavapai County? Private Sector-led effort Issues: Funding, Governance etc.