Two trade publications have given Arizona top recognition for business competitiveness and economic development, and Havasu could continue to share in the state’s growth.
“Site Selection” magazine awarded Arizona its top ranking among mountain states for competitiveness among Arizona businesses, while “Area Development” magazine awarded Arizona with its 2017 Gold Shovel Award, recognizing Arizona as the top state in economic development in the category of states with populations of 5 million to 8 million.
The Gold Shovel Award was given due to major financial and business projects throughout the state, as well as a highly-diversified manufacturing infrastructure, according to “Area Development.” In Lake Havasu City, growth has remained consistent with a growing demographic of seasonal visitors.
“It’s always good to operate in a state that is very entrepreneurial and pro-business,” said Lake Havasu City Partnership for Economic Development President James Gray. “I like to think that Havasu reflects those same values, but on a smaller scale. Northwestern Arizona, over the last few years, has had a large growth process, and I believe Lake Havasu is a leader in Mohave County, driving the economy’s momentum.”
According to Gray, Havasu businesses continue to grow as startup companies take root in the city. Havasu is already home to 3,472 businesses, and the PED has recorded tourism at about 835,000 annual visitors.
“Outside investors are taking a more active interest in every part of the community,” Gray said. “It’s important that we take advantage of every economic advantage we’re given. Havasu has great potential for growth in the next couple of years, with many projects in the pipeline.”
Among those projects, Gray said, is the Havasu Riviera. Among the city’s most ambitious, the 10-year project would develop 280 acres of lake-adjacent state land to construct a resort community adjacent to an environmental education facility. The Havasu Riviera project is estimated to support 251 jobs in its first year, and would add an estimated $12.6 million to new city income at its start.
As Havasu’s economy grows, Gov. Doug Ducey expects Arizona’s business strength to continue to thrive.
“The state of our state is strong and rising,” Ducey said. “Our economy is thriving as we continue to welcome new businesses, new people and new ideas. We remain focused on continuously improving and creating opportunity for all Arizonans.”