Category: Economic Development

Guyana is set to become the largest oil-producing country in the world. With its ideal location that accesses global markets within northern South American, the country is being eyes as a regional investment destination.

The resource-rich nation has been attracting more and more investors because it offers low operation costs and fiscal incentives for investment. Foreign investors will also find it easy to acclimatize, as it’s an English-speaking country composed of a culturally diverse population of Amerindian, European, African, East Indian, Chinese and Portuguese sub-cultures.

Read more about Guyana’s projected economic growth and its promising future in the global market.

– Michael Smith, Excel Guyana, The SWFL 100

Guyana’s economy is projected to grow by 86 percent this year, according to the IMF. The country is on the verge of becoming the largest oil-producing country globally on a per capita basis. 

Exxon Mobil has projected to produce at least 700,000 barrels of oil per day by the year 2025. Recently, Hess announced the sale of its Denmark asset to further its investment in Guyana. With oil revenue flowing from the end of 2019, the country is set for a period of rapid development. 

With the pending economic boom, consultants like Excel Guyana are helping investors capitalize on this opportunity.

– Cyndee Woolley, The SWFL 100

Valley-based Udall Shumway PLC  and Southwest Business Credit Services is proud to release its 2021 Valley Economic Outlook.  The Valley Economic Outlook is based upon over 300 survey responses from owners, financial managers and credit professionals in leading companies throughout the Valley.

Topics for questions included predictions for cash flow and access to credit, hiring trends, inflationary expectations, the impact of out-of-state business attraction, government responses to the pandemic, the sufficiency of Arizona’s workforce — both in number and training — and equipment and other hard asset purchases.

If you’re interested in Udall Shumway PLC’s findings, click here to read the report.

– The Arizona 100 reports

Wilde Wealth Management Group Chief Executive Officer Trevor Wilde, MBA, AIF® has been named to the Forbes’ 2021 Best-In-State Wealth Advisors list. In total, 99 advisors from across Arizona were named to the prestigious list, with Wilde being named the No. 2 overall advisor statewide.

Forbes’ ranking of Best-In-State Wealth Advisors is based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and more.

– The Arizona 100 reports

CCG Catalyst Consulting and the Arizona Bankers Association (AzBA) have partnered to create the Arizona Fintech Council to spur economic growth in the state and bring viable and promising fintech companies to Arizona’s Fintech Sandbox.

Council participants will include diverse institutions of the AzBA, ranging from community, regional, super-regional and financial institutions with more than $1 trillion in assets. Select institutions that are not AzBA members may also participate, as can other stakeholders from government and academia.

Arizona State University will also partner with the Council to make connections for its students who have interest in the financial services industry.

– The Arizona 100 reports

The University of Arizona Center for Innovation (UACI) is pleased to announce that more than 40 startups, a record number, are enrolled in its incubation program.

Passionate entrepreneurs from across the nation have flocked to UACI. Each one of the 40-plus tech- and science-based startups are developing solutions for real-world problems and have a strong desire to make a significant difference in the local and global communities through innovation.

Businesses are working on everything from curing cancer to developing an app that helps correct posture. The reasons why startups have teamed up with UACI are as diverse as the businesses themselves.

– The Arizona 100 reports

Throughout the United States, female business owners are steadily increasing. However, women still own far fewer businesses than men.

According to a report by Self Financial, the share of female business ownership has risen throughout the last decade from 35.2% in 2010 to 38.4% in 2019. In Oklahoma, there are more than 70,000 female business owners, amounting to 37% of all business owners in the state.

When describing reasons men or women start businesses, both cite being their own boss, following a passion or pursuing a new opportunity. However, women are much more likely than men to mention increased flexibility.

– Ashley Glass, The Oklahoma 100

With more than 500 members, the Arizona Association for Economic Development (AAED) educates, advocates and collaborates for responsible economic growth and development throughout the state. Through the new virtual events, members work with elected officials by getting involved with the development of policies and legislation and network among other economic developers and business leaders to collaborate in sharing ideas and resources.

AAED also provides professionals with educational opportunities through programs to continue member’s professional growth. Programs include professional certification courses (AZED Pro) and monthly committee meetings for rural, tribal and governmental affairs. They also offer conferences in southern, central and northern Arizona.

– Carrie Kelly, Arizona Association for Economic Development