The Greater Phoenix Chamber recently released the Q1 Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI). “We are especially encouraged by the change in perception related to the pandemic,” said Todd Sanders, president and CEO of the Greater Phoenix Chamber. “Arizona consumers of all ages are showing a willingness to get vaccinated, which will help … [More]
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SBA Announces First-of-Its-Kind Technology Initiative for Restaurant Revitalization Fund
U.S. Small Business Administration
The U.S. Small Business Administration announced today the first round of technology partners participating in a new initiative for the Restaurant Revitalization Fund (RRF) - a program that will allow eligible restaurants and other food establishments to access the RRF application or data they need to fill out the application through their trusted point-of-sale (POS) service … [More]
Greater Phoenix Adds 10,000 Jobs in March
by Eric Jay Toll
The Greater Phoenix metro area gained almost 10,000 jobs in March 2021 over February numbers in the Arizona Office of Economic Opportunity latest report. The Phoenix workforce grew to 2.2 million in the 13 months since the coronavirus pandemic started. Year-over-year, the metro area workforce is still over 50,000 jobs short of March 2020 … [More]
Safe Harbor for Small Businesses to Claim Deductions Relating to First-Round PPP Loans
Internal Revenue Service
The Treasury Department and the Internal Revenue Service issued Revenue Procedure 2021-20 PDF for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of tax relief legislation in December of 2020. Under … [More]
U.S. Jobless Claims Fall Again as Employment Picture Strengthens
U.S. Department of Labor
In the week ending April 17, the advance figure for seasonally adjusted initial claims was 547,000, a decrease of 39,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 10,000 from 576,000 to 586,000. The 4-week moving average was 651,000, a decrease of … [More]
American Rescue Plan Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
Internal Revenue Service
The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations. The additional details, provided in a fact sheet released today, spell out some basic facts about the … [More]
Arizona Department of Gaming Preparing Rules to Quickly and Responsibly Implement New Gaming Opportunities
Arizona Department of Gaming
The Arizona Department of Gaming (ADG) has begun drafting rules for new forms of gaming in Arizona following Governor Doug Ducey’s signing of historic legislation and an amended Tribal-State Gaming Compacts (Compacts). These actions pave the way for modernized gaming in Arizona and will soon generate millions of dollars in new revenue for essential public services. Last … [More]
Nearly 30,000 Appointments Still Available at State COVID-19 Vaccination Sites
Arizona Department of Health Services
Think you have missed out on vaccination appointments available this week in Phoenix, Tucson and at state sites elsewhere? Think again. As of late this morning, nearly 30,000 appointments posted last Friday for all sites were still available to those visiting podvaccine.azdhs.gov or calling 844-542-8201. At the University of Arizona site in Tucson, for example, nearly 80% … [More]
Bounce Back Endures: February Continued Single-Family Rent Growth but Recovery is Unbalanced, Says Report
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. February 2021 data shows a national rent increase of 3.9% year over year, up from a 3% year-over-year increase in February … [More]
A Record-Breaking $7.1M for Statewide Nonprofits on Arizona Gives Day 2021
inbusinessPHX.com
Donors in communities across the state came together once again to show their incredible collective and heartfelt support for nonprofit agencies by raising $7.1 million on Arizona Gives Day on April 6, generating $1 million more than during last year’s record-shattering event. More than 40,000 donations supported 982 nonprofit organizations, both large and small, serving … [More]
Governor Ducey Rescinds Order to Require Masks in Schools
State of Arizona Office of the Governor
In alignment with Centers for Disease Control and Prevention (CDC) guidance, Governor Doug Ducey and the Arizona Department of Health Services today rescinded orders that direct K-12 schools to require masks. “Nearly 2 million Arizonans are fully vaccinated against COVID-19, with many teachers and school faculty now fully vaccinated after being some of the first in line for … [More]
SBA Announces Official Restaurant Revitalization Fund Application and Guidelines
U.S. Small Business Administration
SBA Administrator Isabella Casillas Guzman today announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RRF). The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan, … [More]
Governor Ducey Bans Vaccine Passports in Arizona
inbusinessPHX.com
Governor Doug Ducey today issued an Executive Order banning "vaccine passports" and preventing state and local governments from requiring Arizonans to provide their COVID-19 vaccination status to receive service or enter an area. “The residents of our state should not be required by the government to share their private medical information,” said Governor Ducey. “While we … [More]
Phoenix and Greater Los Angeles Expected to Outperform National Hotel Occupancy Levels
CBRE Hotels Research
The continued rollout of COVID-19 vaccinations and additional stimulus funds have strengthened the foundation for the recovery of the U.S. lodging industry. According to the February 2021 edition of Hotel Horizons®, CBRE Hotels Research is forecasting an average national occupancy level of 43% during the first half of 2021, accelerating to 55.1% in the second half of the … [More]
Arizona Cannabis Co. Contracts $25.1M Deal with Real Estate Capital Co.
The Mint
The Mint, a national cannabis operator headquartered in Arizona, has entered into a strategic business contract with NewLake Capital Partners, a Chicago-based provider of real estate capital to cannabis operators. The partnership will allow the Mint to introduce its brand to more states across the U.S., including Massachusetts, while also further cementing its footprint in … [More]
Tenant Move-Outs Overshadow Move-Ins during the First Three Months of 2021
JLL
Tenant move-outs have outnumbered move-ins so far this year in the Phoenix office market, according to the new JLL Q1 Phoenix Office Insight Report, but tour activity has increased, leaving many cautiously optimistic about the year ahead. According to the report, while the Phoenix office market absorbed more than 446,000 square feet during the first quarter of 2021, the … [More]
U.S. Jobless Claims Fall to 576K, Lowest since Pandemic Began
U.S. Department of Labor
n the week ending April 10, the advance figure for seasonally adjusted initial claims was 576,000, a decrease of 193,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 25,000 from 744,000 to 769,000. The 4-week moving average was 683,000, a decrease of … [More]
Arizona’s Tax Code Set to Provide $600 Million in Tax Relief for Taxpayers and Small Businesses
State of Arizona Office of the Governor
Governor Ducey signed bipartisan, unanimous tax relief, aligning the state’s tax law with federal law and resulting in $600 million in savings for Arizona taxpayers. “Arizona taxpayers and small businesses were able to weather the unprecedented economic hardship last year during the pandemic in part to action taken by our federal partners,” said Governor Ducey. “By … [More]
