An Innovation-Based, Export Economy
Today's global economy is rooted in innovation. Phoenix can't sit idly by and go about business as usual – that's why Stanton has charted a new course to create an innovation-based, export economy.
Double exports to Mexico in five years, double all exports in ten
From 2007 to 2012, Arizona was the only state to see exports fall, which is why increasing trade with our partners in Mexico is one of Stanton's top priorities.
We're already seeing progress. Last year, exports to Mexico grew by 12 percent – but Stanton acknowledges that modest growth simply won't be enough if we want to compete in the global economy. He set a goal to double exports to Mexico over the next five years, and double all exports in ten years.
Phoenix is taking the right steps to achieve that goal. Relationships with Mexican officials and commerce leaders are improving as a result of a deliberate effort by Stanton and the greater Phoenix business community. Stanton has led 8 trade delegations to Mexico, and the City of Phoenix is preparing to open its first trade office in Mexico City later this year.
Compete in the Global Economy
Phoenix is ready to take its rightful place as a leader in the global marketplace, which means pursuing trade opportunities not just in Mexico, but in all markets that make sense.
Stanton traveled to Calgary, Canada and Dalian, China to strengthen Phoenix's international trade efforts and make the case for doing business in our city.
Phoenix leaders are also working on a comprehensive plan to grow exports through the Global Cities Initiative – a joint project of the Brookings Institution and JP Morgan Chase that selected Phoenix this year as one of eight new cities to participate.
Support our Business Community
Stanton knows that strengthening Phoenix's economy isn't only about building relationships abroad – it's also about taking care of our local business community.
To help local businesses prepare to compete globally, Stanton set a goal to enhance and elevate the export readiness of every Phoenix company that wants to do business abroad. The city is developing the first-ever Export Readiness Initiative that will give Phoenix businesses the tools they need to compete – and succeed.
Supporting our local businesses isn't just something Stanton practices personally – the city also "buys local." Through Phoenix's Shop Local policy, the value of procurement contracts to local businesses has climbed from $50,000 to more than $36 million in just two years. This smart policy invests in businesses that create jobs and give back to the local economy.