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5 Benefits Of Starting A Business In Arizona

Richard Clayton Aug 30, 2019
Arizona is rapidly emerging as one of the most popular locations for people who want to start a new business there. And why not, as there are plenty of reasons that make Arizona a great business point.
For one, the climate is fantastic — easily one of the most pleasant anywhere in the country — and the scenery is beautiful to boot.
But, there is more than that. There are plenty of great incentives of doing business there. The state has worked hard to make it an attractive place for innovative companies to set up. Let’s see why Arizona is great to start business.

One of the Lowest Corporate Tax Rates

Arizona’s corporate tax rate dropped to a mere 4.9% in 2017, and this has attracted a lot of businesses that are priced out of more expensive states. Several municipalities offer additional tax incentives to companies that bring jobs like technology, in the region.

Cost of Doing Business Is Lower

Tax incentives aren’t the only reason for cheaper business in Arizona. Due to relative lack of regulation, more reasonable rent, and other factors, it is much more affordable to operate a business here, than most other states.
Operating costs in Arizona have been estimated to be as low as 40% of what it would cost to run the same business in California. Thus, companies can focus on innovating and creating jobs.

Cost of Living Is Among the Most Affordable

Opening a business is only part of the equation. It doesn’t matter how cheaply you can operate if cost of living prevents you from attracting quality talent. However, housing, gas, and other costs of living are much lower than other places.

A Well-Funded Public School System

Per capita, Arizona spends more on its public school system than most states. Because of their investment, they can offer smaller class sizes, hire better teachers, and provide overall better quality of education than other states.
This not only attracts entrepreneurs who already have families, but it helps produce a highly-educated and skilled workforce for the next generation.

The Labor Market Is Healthy and Growing

Arizona doesn’t just attract entrepreneurs. It is also home to people who moved to the state for college and decided to stay after graduation, immigrants, and people who like the pace and quality of life here.
The unemployment rate is slightly lower compared to the national average. So, there are plenty of people available for a variety of job openings you’ll have as your business continues to grow.
There’s plenty of opportunity in Arizona for those wanting to start a successful business. So, what are you waiting for? And while you’re at it, why not look at some Scottsdale homes for sale so you can find a dream home to go with your dream business?