Governor Ducey Wants To Create New Finance Authority To Help Small Buisness
Small businesses may be in luck when it comes to new legislation being sought by Governor Doug Ducey in Arizona.
The governor is seeking to create the Arizona Finance Authority in a revamp of the existing Arizona Commerce Authority. He wants to bring all economic development agencies and data generators under one umbrella.
The proposal is an industrial development authority, similar to ones used by Pima and Maricopa counties, as well as by the city of Phoenix, said Lorenzo Romera, the director of the the Governor's Office of Budget and Research.
Romera explained, "We want to be able to increase lending opportunities for small businesses by consolidating small businesses under a large bond offering."
The Governor's Economic Opportunity Office is a proposed umbrella organization,...