This piece by TWW’s Doran Miller and the Arizona Technology Council’s Steve Zylstra was first published in the Phoenix Business Journal on December 17, 2020, and can be accessed here.
At the onset of 2020, Arizona’s economic outlook was stable and the state’s leading industries were predicted to grow. But just a few months into 2020, we found ourselves in a global pandemic and the state’s economy was hit hard.
This is not the first time we’ve suffered an economic downturn. Yet we’ve always found a way to rebound by thinking creatively and strategically about our recovery and supporting the industries that are the core drivers of economic growth in Arizona. This time is no different.
While there are indications Arizona’s economy is already starting to bounce back, there’s no question that huge sectors of our economy have suffered financial losses. We still have a long way to go before we make up that lost ground. As with past economic downturns, recovering from the economic consequences of Covid-19 will require us to couple the leadership and innovation of the private sector with smart public policy tools, including effective public-private partnerships.
At the same time, we continue to be mindful of the critical need to produce the energy our economy requires to grow while curbing the impact of energy production on the environment. Covid-19 and climate change present unique challenges we must address to ensure Arizona’s economic outlook remains strong.
With that in mind, the Arizona Technology Council, in partnership with The Western Way, recently released a report, titled "Innovation and Clean Energy Industry Recommendations for Economic Recovery: Policy Options from Arizona’s Business Community." It is intended to give policymakers a road map for incorporating the clean energy and innovation sectors into Arizona’s economic recovery plan.
In crafting the report, we brought together a group of business leaders from across the state to generate ideas and recommendations for how to incorporate the clean energy and innovation sectors into our state’s economic recovery. The goal of this report is to give state and federal policymakers a vetted menu of policy options we know will make a strategic and meaningful impact on Arizona’s economic recovery and environment, especially as new funding streams and legislative opportunities become available in 2021.
Arizona’s private sector — especially the clean energy and innovation sectors — is already a major driver of our economy. As such, the recommendations contained in the report focus on opportunities to support these industries as they create jobs and develop innovative technologies to grow Arizona’s economy and address climate challenges.
For example, the report includes tools to encourage demand-side adoption of energy efficiency measures, opportunities for statewide energy infrastructure investment, and public-private partnerships and policies that support building Arizona’s talent pipeline in the clean energy and advanced manufacturing sectors.
Even as newly approved Covid-19 vaccines are starting to be distributed and new treatments are being used, we likely have many months before we’re able to return to normal. Yet we believe we must start planning now for a robust recovery that not only replaces jobs that were lost but also prioritizes technology and innovation, so Arizona’s economy emerges even better than before.
Steve Zylstra is president and CEO of the Arizona Technology Council and the SciTech Institute, and Doran Miller is state director of The Western Way.