Governor Brewer signs bills that bolsters Arizona economic growth
Jan Brewer’s 2nd term as Arizona’s governor comes to a close later in 2014, but she isn’t quite finished just yet. On February 26, 2014 Brewer vetoed a controversial bill that many critics deemed had “an anti-gay” agenda. Not only has she vetoed such debilitating laws such as the aforementioned SB 1062, but Brewer has also given her John Hancock to a plethora of beneficial bills for the state of Arizona.
One such advantageous bill is SB 1413, which is a smart tax reform that will bolster job creation in the state of Arizona.
“Since becoming governor, my cornerstone priority has been to make Arizona as attractive as possible for new and expanding businesses, particularly for our manufacturing industry, which generates quality jobs and high-wage salaries,” Brewer said. “I want Arizona to be No. 1 and be the pro-business state in the nation and we have worked relentlessly to accomplish that.”
Specifically, SB 1413 eliminates sales taxes on electricity and natural gas purchased by manufacturers and mining smelters, a move Brewer said was needed to make the state more attractive to large businesses. The new SB 1413 bill is primarily attractive to Apple Inc. and their new Mesa facility and intrigue electric automaker Tesla Motors Inc., which the state of Arizona has been wooing for the past few months to build their new $5 billion battery factory in our backyard.
Later in the day, Brewer also signed Senate Bill 1484, a law providing a $5 million tax credit that seemed laser focused on Apple Inc. The Bill grants tax credit to a company that installs at least $300 million in renewable power capacity to supply its own plant.
While the tax cuts have affected state revenue streams, Brewer said they are important to growing the economy.
“When we bring in these new businesses it drives our economy, they bring in construction jobs, they bring in employees, they bring in money into the state,” Brewer said. “So in the end, everybody’s ship rises.”