Economic Development

Proposal for Economic Development of the Downtown Area of the City Of Phoenix

The downtown area has been improving, with two high rise buildings: the Cityscape and the Westin Hotel. The city offers a downtown that is close to the airport and connected to it by light rail. It offers ASU, as well as major corporations and banks, but the city could do more to attract the best and the brightest people.

Phoenix doesn’t have a specialized industry, although potentially, the biotech research center and medical schools may lead to a specialized industry in the future. There will be an employment pool of graduates coming out of the medical school, and the city should offer employment opportunities to them. 

There are empty lots throughout the downtown area that could be built up to accommodate industries and provide office space. Additionally, there are empty historic buildings, like the National Bank building on the corner of Central and Monroe, that could attract businesses. The city could offer tax incentives or abatements to attract industries to the area.  

Richard Florida advises cities to encourage independent business owners so they can compete with large chains. Independent, unique businesses, such as restaurants and boutiques, attract the creative class. Phoenix has some of these businesses, such as Bianco Pizza and Modified Gallery, but there could be many more. 

Additionally, Phoenix offers a lot, maybe too much sunshine. The city should provide shade on the downtown street so people can walk comfortably. The city could also try to promote solar energy, perhaps housing a business center for solar energy downtown because Phoenix is known for its outstanding sun. 

The city should promote its opportunities for recreation, such as hiking in the mountains,  visiting the lakes. The city has done well in the past to promote its sports events, and it should do the same with other attractions. Arizona and Maricopa county have gained reputations for intolerant of other races. The city instead also promote its diversity and cultural awareness, like the Japanese garden, the Irish cultural center, and the Heard museum.

Finally, Phoenix should apply for a federal grant for Hope VI funding in order to provide affordable housing for the service sector employees, so they can live near work, cut down on pollution caused by commuting, and be patrons of some of the downtown commercial establishments. This would promote diversity in the downtown, which already offers a low cost of living compared to other big cities.