As one of the fastest growing states in the country, Arizona has much to offer potential and current businesses. According to tax information and government legislature, it is known as one of the states with the lowest operating costs for businesses, populated with an intelligent, well-trained workforce and contains many technological advances. Commercial leases in Arizona allow business to grow in a diverse and advancing society. Below are four reasons to consider commercial lease Arizona properties.
Low Cost for Businesses
Arizona offers one of the nation’s lowest costs of owning and performing business, because of the low taxes and small state government statutes. Commercial lease Arizona contracts are smart choices for newly beginning and existing businesses. In comparison with the rest of the country, Arizona’s taxes on property, gas and personal income all remain much lower. The state is the second lowest in the nation for unemployment insurance tax and is the sixth lowest in the nation for property taxes. This allows businesses to operate on lower costs, while earning more profits.
Studies show that the state of Arizona has the potential for large amounts of technological and economic growth in the upcoming years. This is due to the state’s strong economic performance and technological community. The state is expected to increase in venture capital investments in the technological business sector, further increasing business openings and job creation, which will create a technologically inclined and growing surrounding community. Meaning, commercial lease Arizona properties will be filling quickly with future business prospects.
Educated Work Force
The state also gives businesses access to a well-educated work force. There are three large public universities in Arizona and several community colleges. The institutions produce one of the largest concentrations of technology and scientifically advanced populations in the United States and ease the stresses of filling employment opportunities in commercial lease Arizona business properties.
Productive Research and Development Activity
Alongside the prepared work force, the universities and technology companies have also produced well developed research and development activities, making Arizona one of the nation’s top patenting states. Arizona is currently seventh in patents awarded per 1,000 individuals and eleventh in federal research and development obligations.
For more information on commercial lease Arizona properties contact a Camroad Properties representative today!