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Article Archives: Arizona

Greater Phoenix Service Corps of Retired Executives
The Service Corps of Retired Executives (SCORE) has undergone changes to meet the needs of 21st century entrepreneurs.

SCORE is the technical assistance arm of the SBA. The organization is outreach-focused and approaches small business owners using current technology, training, and technical assistance tools that are essential for success in today's challenging business environment.

The Greater Phoenix SCORE, one of three chapters in Arizona, is a dynamic organization that operates throughout Maricopa and Pinal counties.

The organization offers counseling and low- or no-cost workshops for prospective and existing small business owners on topics ranging from banking education to web-based marketing and social media solutions.

The organization partners with the Arizona Department of Education, local businesses and governments, financial institutions, and other business and education organizations to provide services to the small business community. Counselors and workshop trainers come from business and government in addition to the traditional retired executive pool.

In existence since 2008, Greater Phoenix SCORE offers services at more than 20 locations. The program is seeing increased enrollment, up 200 percent from 2009, a reflection of the current economic climate.

Banks can participate in the program in a variety of ways, including offering marketing or financial support, or providing space for counseling and workshops.

For more information, e-mail Maryanne Weiss, Chairman of the Greater Phoenix SCORE program.
[Community Developments Investments, Fall 2010]

New Market Tax Credits Allocations Launches Phoenix CDC
The Phoenix Community Development and Investment Corporation (PCDIC) received a $170 million allocation of new markets tax credits during the first round of funding in 2002. The organization was formed by the city of Phoenix. PCDIC intends to develop and rehabilitate blighted areas of the city to stimulate economic development and jobs. PCDIC plans to use the funds in all of the city's distressed urban areas. Development will be funded with below-market rate loans and equity investments, using a $133 million commercial real estate fund, a $30 million equity fund, and a $7 million small business fund. The real estate fund emphasizes the development of commercial real estate projects, including retail developments, hotels, and office buildings located in low-income areas. The equity fund is targeted primarily at Phoenix's burgeoning biotechnology sector. The small business fund will provide start-up and expansion loans for working capital and equipment purchase and will provide borrowers with 40 hours of free technical assistance.

Contact Roberto Franco, assistant director of Phoenix's Community and Economic Development Department, at roberto.franco@phoenix.gov.
[Published in News from the Districts, Community Developments, Fall 2004]