BNSF moving forward with West Valley rail complex amid nearly $4 billion capital investment plan for 2023
Fort Worth-based BNSF Railway Co. is moving forward with two massive rail complexes, including one in the Phoenix metro, following its announcement to invest $3.96 billion in 2023.
According to a news release, the largest component of the company's capital plan is $2.85 billion, which will be invested in BNSF's maintenance projects, including replacing and upgrading rail, track infrastructure, and rolling stock. The capital investment also breaks down $402 million into equipment acquisitions and over $700 million for expansions and efficiency projects.
"Our capital plan reflects our growth mindset and commitment to having the capacity and equipment we need to support our customers. Continued investment in our network through our capital plans helps ensure we run a safe, efficient and growing railroad that provides customers with the service they expect from BNSF," Katie Farmer, president and CEO of BNSF, said in a news release.
The company said it will complete a second main track expansion in Fort Worth, along with other track developments in Missouri, between Eastern Kansas and Southern California, New Mexico, Washington, and two more in California.
New rail complexes planned in Near Wittmann
In 2022, the Fort Worth-based railway company unveiled plans for a $1.5 billion regional rail complex across more than 4,000 acres in the far northwest part of the Valley in the Wittmann area, a small rural community on the outskirts of Surprise and the Phoenix metro.
BNSF said the new industrial center will comprise 30 million square feet of space in addition to an intermodal facility, where cargo is transferred between trains and trucks. It also estimated the facility could produce 11,500 construction jobs and will be designed similar to the Logistics Park Kansas City, a 3,000-acre industrial and rail center that BNSF said has produced thousands of jobs.
The freight giant said in October that it has neared capacity at its Phoenix intermodal and railcar facilities and is looking to expand at the Wittmann site to support the region's fast-growing population. This has sparked fears for rural communities in the area due to the thousands of homes proposed to support facilities like this and a recent report that shows there is not enough groundwater in the far West Valley for future development.
BNSF is currently in the process of amending the city of Surprise's general plan, which guides the city's growth long term, for the large site. The major amendment would redesignate the site from a residential to industrial use and is the first step for the company's project before it can rezone the site and annex it into the city of Surprise.
The company held two neighborhood meetings late last year after acquiring 3,500 acres and is scheduled to go before Surprise's planning and zoning commission on Feb. 2 at Desert Oasis Elementary School for a public hearing and again on Feb. 16 at Surprise City Hall for a planning commission vote.
Once recommended by planning commission on Feb. 16, BNSF's application for the general plan amendment is scheduled to go before City Council on March 7 for a final vote, according to a city spokesperson.
This is the second time BNSF has attempted to build a logistics center and rail yard in the Wittmann area. The company had planned to develop the inland port at the same site but never moved forward following the Great Recession and significant pushback from residents, who were concerned with increased pollution, truck traffic, safety and noise.
The rail complex could be the first of its kind in the Valley and have big economic implications for the region.
BNSF also announced in 2022 a $1.5 billion investment to build a 4,500-acre rail facility in Southern California to reduce congestion at the busiest ports in the country.
BNSF is wholly owned by Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A).
We are happy to announce the official magazine of the Glendale Chamber of Commerce is here! The VOICE of Business is the name of our new digital and print magazine spotlighting Chamber members, initiatives, and our ever-evolving community!
The digital version can be viewed here: https://chambervu.com/glendalewinter22/ and we are distributing print copies between now and the end of February. Check out the improved print and digital versions that will provide a greater reach and allow us to utilize the latest technologies for a searchable, interactive, and mobile-friendly and easy for you to send via email, and share on social media, and your company website.
This asset of chamber membership will become an invaluable community resource while offering members an improved opportunity to gain exposure. The magazine will spotlight community, member and chamber initiatives and offer insight into such significant topics as the state of education, military and veteran affairs, and diversity, equity, and inclusion in Arizona. The publication will highlight new economic development including expansion, retention initiatives and workforce development, west valley and regional news, an updated membership directory, significant milestones and so much more!
Fort Worth-based BNSF Railway Co. is moving forward with two massive rail complexes, including one in the Phoenix metro, following its announcement to invest $3.96 billion in 2023.
According to a news release, the largest component of the company's capital plan is $2.85 billion, which will be invested in BNSF's maintenance projects, including replacing and upgrading rail, track infrastructure, and rolling stock. The capital investment also breaks down $402 million into equipment acquisitions and over $700 million for expansions and efficiency projects.
"Our capital plan reflects our growth mindset and commitment to having the capacity and equipment we need to support our customers. Continued investment in our network through our capital plans helps ensure we run a safe, efficient and growing railroad that provides customers with the service they expect from BNSF," Katie Farmer, president and CEO of BNSF, said in a news release.
The company said it will complete a second main track expansion in Fort Worth, along with other track developments in Missouri, between Eastern Kansas and Southern California, New Mexico, Washington, and two more in California.
New rail complexes planned in Near Wittmann
In 2022, the Fort Worth-based railway company unveiled plans for a $1.5 billion regional rail complex across more than 4,000 acres in the far northwest part of the Valley in the Wittmann area, a small rural community on the outskirts of Surprise and the Phoenix metro.
BNSF said the new industrial center will comprise 30 million square feet of space in addition to an intermodal facility, where cargo is transferred between trains and trucks. It also estimated the facility could produce 11,500 construction jobs and will be designed similar to the Logistics Park Kansas City, a 3,000-acre industrial and rail center that BNSF said has produced thousands of jobs.
The freight giant said in October that it has neared capacity at its Phoenix intermodal and railcar facilities and is looking to expand at the Wittmann site to support the region's fast-growing population. This has sparked fears for rural communities in the area due to the thousands of homes proposed to support facilities like this and a recent report that shows there is not enough groundwater in the far West Valley for future development.
BNSF is currently in the process of amending the city of Surprise's general plan, which guides the city's growth long term, for the large site. The major amendment would redesignate the site from a residential to industrial use and is the first step for the company's project before it can rezone the site and annex it into the city of Surprise.
The company held two neighborhood meetings late last year after acquiring 3,500 acres and is scheduled to go before Surprise's planning and zoning commission on Feb. 2 at Desert Oasis Elementary School for a public hearing and again on Feb. 16 at Surprise City Hall for a planning commission vote.
Once recommended by planning commission on Feb. 16, BNSF's application for the general plan amendment is scheduled to go before City Council on March 7 for a final vote, according to a city spokesperson.
This is the second time BNSF has attempted to build a logistics center and rail yard in the Wittmann area. The company had planned to develop the inland port at the same site but never moved forward following the Great Recession and significant pushback from residents, who were concerned with increased pollution, truck traffic, safety and noise.
The rail complex could be the first of its kind in the Valley and have big economic implications for the region.
BNSF also announced in 2022 a $1.5 billion investment to build a 4,500-acre rail facility in Southern California to reduce congestion at the busiest ports in the country.
BNSF is wholly owned by Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A).
We are happy to announce the official magazine of the Glendale Chamber of Commerce is here! The VOICE of Business is the name of our new digital and print magazine spotlighting Chamber members, initiatives, and our ever-evolving community!
The digital version can be viewed here: https://chambervu.com/glendalewinter22/ and we are distributing print copies between now and the end of February. Check out the improved print and digital versions that will provide a greater reach and allow us to utilize the latest technologies for a searchable, interactive, and mobile-friendly and easy for you to send via email, and share on social media, and your company website.
This asset of chamber membership will become an invaluable community resource while offering members an improved opportunity to gain exposure. The magazine will spotlight community, member and chamber initiatives and offer insight into such significant topics as the state of education, military and veteran affairs, and diversity, equity, and inclusion in Arizona. The publication will highlight new economic development including expansion, retention initiatives and workforce development, west valley and regional news, an updated membership directory, significant milestones and so much more!
Glendale seeks to annex 75 acres for continued industrial growth near Loop 303
Glendale is looking to annex another 75 acres for two proposed industrial buildings near Luke Air Force Base.
The city will present an annexation application for the 75-acre site during a Glendale City Council workshop on Sept. 28. During that meeting, the city will also consider a separate proposal for annexing 262 acres that would allow for the development of a massive 3.4 million-square-foot industrial park on the southeast corner of Cotton Lane and Peoria Avenue fronting the Loop 303.
Dubbed Organics Loop 303, the industrial site proposed for the 75 acres calls for 850,000 square feet between two buildings on the southwest corner of Bethany Home Road and Sarival Avenue, just east of the Loop 303.
According to Maricopa County records, Russell Organics LLC bought the two-parcel site several years ago for $2.5 million. The seller was Ashby Land LLC.
Planning documents submitted to the city of Glendale were prepared by Hunter Engineering Inc. in May for Russell Organics LLC and Roth Development Corp.
Massive 3.4 million-square-foot industrial park proposed in Glendale
The development team representing Russell Organics and Roth Development Corp. initially included Hunter Engineering, Butler Design Group and Southwest Traffic, planning documents said.
Industrial park details
The two proposed buildings could be used for warehouses, distribution, manufacturing and e-commerce and will include associated truck parking, auto parking and other on- and off-site infrastructure improvements, documents said.
The buildings will be comprised of two midsized warehouse or manufacturing spaces with associated office on the corners of the building. The site will also have loading docks and will be a "first class, high quality facility," the project narrative said.
The developer also plans to submit a rezoning application for the property to allow for a light industrial planned area development.
Planning documents said the site could also be developed in two phases.
Other nearby projectsMany properties in the vicinity of the site have also been recently annexed into the city and rezoned for light industrial, according to planning documents.
Just north of the site is where the Park303 master-planned industrial development is being developed.
The 75 acres adds to a list of multiple annexations the city has completed or is seeking for continued industrial developments and growth in the area around Luke Air Force Base and Loop 303.
If the annexations are approved, the land will become a part of the city in 30 days.
As more industrial is built, the city of Glendale previously said the area will start to see more retail, which is locating on arterials along the Loop 303.
The city also said the area is designed as an employment corridor and that infrastructure has already been installed by private developers and property owners.
Glendale is looking to annex another 75 acres for two proposed industrial buildings near Luke Air Force Base.
The city will present an annexation application for the 75-acre site during a Glendale City Council workshop on Sept. 28. During that meeting, the city will also consider a separate proposal for annexing 262 acres that would allow for the development of a massive 3.4 million-square-foot industrial park on the southeast corner of Cotton Lane and Peoria Avenue fronting the Loop 303.
Dubbed Organics Loop 303, the industrial site proposed for the 75 acres calls for 850,000 square feet between two buildings on the southwest corner of Bethany Home Road and Sarival Avenue, just east of the Loop 303.
According to Maricopa County records, Russell Organics LLC bought the two-parcel site several years ago for $2.5 million. The seller was Ashby Land LLC.
Planning documents submitted to the city of Glendale were prepared by Hunter Engineering Inc. in May for Russell Organics LLC and Roth Development Corp.
Massive 3.4 million-square-foot industrial park proposed in Glendale
The development team representing Russell Organics and Roth Development Corp. initially included Hunter Engineering, Butler Design Group and Southwest Traffic, planning documents said.
Industrial park details
The two proposed buildings could be used for warehouses, distribution, manufacturing and e-commerce and will include associated truck parking, auto parking and other on- and off-site infrastructure improvements, documents said.
The buildings will be comprised of two midsized warehouse or manufacturing spaces with associated office on the corners of the building. The site will also have loading docks and will be a "first class, high quality facility," the project narrative said.
The developer also plans to submit a rezoning application for the property to allow for a light industrial planned area development.
Planning documents said the site could also be developed in two phases.
Other nearby projectsMany properties in the vicinity of the site have also been recently annexed into the city and rezoned for light industrial, according to planning documents.
Just north of the site is where the Park303 master-planned industrial development is being developed.
The 75 acres adds to a list of multiple annexations the city has completed or is seeking for continued industrial developments and growth in the area around Luke Air Force Base and Loop 303.
If the annexations are approved, the land will become a part of the city in 30 days.
As more industrial is built, the city of Glendale previously said the area will start to see more retail, which is locating on arterials along the Loop 303.
The city also said the area is designed as an employment corridor and that infrastructure has already been installed by private developers and property owners.
Arizona is bracing for a historic water shortage. Here's where water rates are rising and by how much
Is your city raising rates? Arizona leaders are bracing for a historic Colorado River shortage in 2022. It won't leave your tap dry, but several Phoenix-area cities are increasing water rates ahead of the shortage.
Water buffalos — the experts, wonks and gadflies of the water world — in Valley city halls say the impending shortage isn't solely to blame for the increases. They also cite the costs that come with repairs to aging infrastructure in older parts of town and installing new infrastructure in younger parts of town where growth has exploded. Cities won't directly lose Colorado River water in the upcoming shortage, but they will pay more for it.
The shortage would slash Arizona's "excess pool," which has long been used to fuel growth in some of the Valley's farthest reaches, and could significantly cut into the water supply used by Pinal County farmers. That water will instead be kept in Lake Mead, which provides much of Arizona's water.
While that won't directly hit cities, it will make the remaining water pricier, Peoria Water Services Director Cape Powers said.
"Shortage on the Colorado River will not impact our water supplies. (But) we’re going to see higher costs," he said, adding that Peoria is prepared to spend an extra $1 million next year on Colorado River water.
Several cities in metro Phoenix have increased rates for 2022 or are considering hikes. Others that rely much less on the Colorado River are not.
Where rates are increasing, it generally comes out to a few dollars per month for the average homeowner.
"I think it equates to something like $2 per month, but it’s still an increase. I think people would be much more upset if they went to turn on the tap and nothing came out," Glendale Mayor Jerry Weiers said.
Current increases in metro Phoenix break down like this:
Each level of shortage is known as a "tier" and goes into effect when the water in Lake Mead drops to specific elevations. As drought tightened its decades-long grip on the American West, leaders in 2019 signed a series of agreements known as the Drought Contingency Plan, which call for leaving more water in Lake Mead to delay severe shortages.
Is your city raising rates? Arizona leaders are bracing for a historic Colorado River shortage in 2022. It won't leave your tap dry, but several Phoenix-area cities are increasing water rates ahead of the shortage.
Water buffalos — the experts, wonks and gadflies of the water world — in Valley city halls say the impending shortage isn't solely to blame for the increases. They also cite the costs that come with repairs to aging infrastructure in older parts of town and installing new infrastructure in younger parts of town where growth has exploded. Cities won't directly lose Colorado River water in the upcoming shortage, but they will pay more for it.
The shortage would slash Arizona's "excess pool," which has long been used to fuel growth in some of the Valley's farthest reaches, and could significantly cut into the water supply used by Pinal County farmers. That water will instead be kept in Lake Mead, which provides much of Arizona's water.
While that won't directly hit cities, it will make the remaining water pricier, Peoria Water Services Director Cape Powers said.
"Shortage on the Colorado River will not impact our water supplies. (But) we’re going to see higher costs," he said, adding that Peoria is prepared to spend an extra $1 million next year on Colorado River water.
Several cities in metro Phoenix have increased rates for 2022 or are considering hikes. Others that rely much less on the Colorado River are not.
Where rates are increasing, it generally comes out to a few dollars per month for the average homeowner.
"I think it equates to something like $2 per month, but it’s still an increase. I think people would be much more upset if they went to turn on the tap and nothing came out," Glendale Mayor Jerry Weiers said.
Current increases in metro Phoenix break down like this:
- Phoenix: The City Council in March approved a 6.5% increase over the next two years. Cost will increase $2.40 per month for the average residential water user. City leaders in 2019 approved a separate rate increase to prepare for Colorado River shortages.
- Glendale: Glendale leaders propose a water rate increase of 4.3% for 2022. Leaders expect it to cost the average customer about 10 cents per day. The city's water services director said it is not in response to the looming Colorado River shortage.
- Peoria: Peoria approved a 2.75% water rate increase for 2022. The city's water services director attributed it to infrastructure costs, rapid growth and the impending shortage.
- Tempe: Tempe leaders in late 2020 approved a 5.9% water and wastewater rate increase that took effect this year. That comes to an average increase of $3.25 per month, according to city documents.
- Scottsdale: Leaders are considering a 3% rate increase for 2022. The City Council in 2018 created a drought reserve fund to offset the cost of Colorado River water in a shortage and prevent passing that cost onto residents, city spokesperson Kelly Corsette said. The fund has $3 million, he said.
- Mesa: The City Council will discuss whether to increase rates this fall, city spokesperson Kevin Christopher said, adding that any potential increase will not be in response to a Colorado River shortage declaration.
- Gilbert: Town staff is conducting a rate study to determine if a rate increase is necessary, town spokesperson Jennifer Harrison said. Any increase will be in response to infrastructure needs and not a shortage, she said.
- Surprise: Surprise leaders are not considering a water rate increase, spokesperson Virginia Mungovan said.
- Avondale: Avondale leaders are considering a water rate increase and will host a meeting Aug. 23 for residents to learn more about it. City documents cite the rising cost of Colorado River water in a shortage as a factor.
- Goodyear: City leaders in January approved a five-year plan that cut rates for water, wastewater, sanitation and stormwater by 3.29% and will increase them 4.09% in 2022. Public Works Director Javier Setovich said the shortage will be an expense for Goodyear but that it was not the driving factor behind increasing rates.
- Buckeye: Buckeye has not had a water rate increase since 2016. The city receives much less Colorado River water than other major Phoenix-area cities.
Each level of shortage is known as a "tier" and goes into effect when the water in Lake Mead drops to specific elevations. As drought tightened its decades-long grip on the American West, leaders in 2019 signed a series of agreements known as the Drought Contingency Plan, which call for leaving more water in Lake Mead to delay severe shortages.
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11 New Restaurants and Entertainment Spots, from an Ax-throwing Venue to Whataburger Opening in Surprise.
Surprise will soon have more selections for where to eat, drink and ... throw an ax.
BadAZAxes and Axescape Room
Russ Dehlinger and Blanca Real have brought entertainment to Surprise for years, converting their home into a haunted house every Halloween. They call it House of Fears. Now they hope to keep the fun going year-round.
BadAZAxes and Axescape Room, pronounced "badass axes and escape room," will be a BYOB ax-throwing joint if approved by the Maricopa County Health Department. The venue will offer eight ax-throwing lanes with barriers in between, plus an old hotel-themed escape room. It will replace the former Westside Total Fitness gym near Loop 303 and Greenway Road.
Dehlinger said construction inside the facility hasn't begun yet, but he hopes to open by the end of April.
Location: 16630 W. Greenway Road.
Black Rock Coffee Bar
The drive-thru coffee shop has been popping up across the Valley, and now it's headed to Surprise. The shop sells coffee, tea, blended drinks and energy drinks.
The shop is under construction, but an opening date has not been announced.
Location: 13725 N. Prasada Parkway.
The Boyer Bakery
The Boyer Bakery has yet to open its first storefront, but the family run business's treats already are for sale in the West Valley. The homemade Poptarts regularly sell out at the bakery's traveling pop-up trailer, called Miss Mae, and at the Goodyear coffee shop Enroute Coffee and Tea.
The Boyer Bakery will sell a variety of sweet pastries, coffees, salads and sandwiches. Owners expect to host a grand opening at the beginning of April.
Location: 13681 N. Litchfield Road
CBD Coffee Brewed
Differently CBD Coffee Brewed Differently is similar to Dutch Bros. It will offer coffee, tea, smoothies and energy drinks. But on top of the basic beverage, customers can purchase CBD "liquid snap packs" that will dissolve in any drink.
Cannabidiol is an active ingredient in marijuana derived from the hemp plant. Proponents often say it reduces pain, stress and a host of other ailments. Pure CBD does not produce a high and the World Health Organization said in 2018, there's no evidence of "public-health related problems associated with the use of pure CBD."
Dr. Brent Bauer from The Mayo Clinic said some non-prescription CBD products aren't pure and contain either less CBD than marketed, or the products contain THC despite advertising otherwise. THC is an ingredient in marijuana that causes a high.
Tyler Walker, the shop's owner, said his store's CBD contains no THC. He expects to open in late April or early May.
CBD's Phoenix location opened Feb. 15, and more are expected in Tempe and Prescott. The Surprise coffee shop will offer drive-thru and walk-in service, though there won't be seating.
Location: 15240 N. Cotton Lane.
Chipotle Prasada
Surprise will get its second Chipotle and this one will have a drive-thru.
Customers at Surprise Chipotle at Prasada won't have to leave their cars for giant burritos, tacos or burrito bowls.
The restaurant is under construction with no expected opening date.
Location: 16810 W. Waddell Road
Kentucky Fried Chicken
An opening date for the fried chicken drive-thru has not yet been announced.
Location: 15166 N. Cotton Lane
Over Easy
Over Easy is an American breakfast joint founded in 2008, with locations across the Valley and in Flagstaff and Florida.
The menu covers sweet and savory: omelets, breakfast burritos, pancakes, French toast and chicken and waffles.
Troy Richards, CEO of the restaurant's franchise, said they expect to open in early May with a "full bar and big patio."
Location: 14345 W. Bell Road.
Whataburger
The fast food burger joint is going through the city planning process an opening date has not been announced.
Location: Southwest corner of Waddell Road and Sarival Avenue.
Jersey Mikes, Wow Wow Hawaiian Lemonade and Arby's
The sub shop, lemonade spot and fast food joint could be coming to Surprise, near the Costco that opened last fall. The three spots are working through the city planning process. Opening dates have not been announced.
Location for all three: Southwest corner of Waddell Road and Sarival Avenue.
NW Valley Could See a New Regional Tourism Asset!
Residents of NW Valley could see a major gambling expansion in Arizona, and the Tohono O'odham eye property near Loop 303 Northern Parkway. "This is a major announcement, not only for jobs, but will be become our newest regional tourism asset along with the White Tank Regional Park, Wildlife Zoo and Surprise Stadium" said Raoul Sada, president and CEO of the Chamber
The decision was part of an agreement between the city of Glendale and the Tohono O'odham Nation, which already operates the Desert Diamond Casino West Valley. The Glendale council also agreed not to interfere with the tribe's plans to build further west, and to publicly support a new casino. "
The current state gaming compact limits the Tohono O'odham Nation to four gaming facilities in Arizona, which it has near Tucson, Glendale, Sahuarita and Why. This newly proposed location would be a fifth.
The southern Arizona-based tribe was able to build the West Valley casino, far from most of its reservation, by making use of a 1980s settlement to replace tribal land that was damaged by flooding. The federal settlement allows the tribe to purchase replacement land in unincorporated areas and apply to have it designated as reservation land. The Tohono O'odham Nation would have to go through the same process with this new location.
The deal between Glendale and the Tohono O'odham Nation will bring some cash Glendale's way. The agreement outlines:
A one-time $400,000 payment to Glendale for signing the Feb. 9 agreement. The payment is "to help fund the operations of the city," according to the agreement. $1 million per year, plus an additional 2% each year, for 20 years once gaming begins.
Residents of NW Valley could see a major gambling expansion in Arizona, and the Tohono O'odham eye property near Loop 303 Northern Parkway. "This is a major announcement, not only for jobs, but will be become our newest regional tourism asset along with the White Tank Regional Park, Wildlife Zoo and Surprise Stadium" said Raoul Sada, president and CEO of the Chamber
The decision was part of an agreement between the city of Glendale and the Tohono O'odham Nation, which already operates the Desert Diamond Casino West Valley. The Glendale council also agreed not to interfere with the tribe's plans to build further west, and to publicly support a new casino. "
The current state gaming compact limits the Tohono O'odham Nation to four gaming facilities in Arizona, which it has near Tucson, Glendale, Sahuarita and Why. This newly proposed location would be a fifth.
The southern Arizona-based tribe was able to build the West Valley casino, far from most of its reservation, by making use of a 1980s settlement to replace tribal land that was damaged by flooding. The federal settlement allows the tribe to purchase replacement land in unincorporated areas and apply to have it designated as reservation land. The Tohono O'odham Nation would have to go through the same process with this new location.
The deal between Glendale and the Tohono O'odham Nation will bring some cash Glendale's way. The agreement outlines:
A one-time $400,000 payment to Glendale for signing the Feb. 9 agreement. The payment is "to help fund the operations of the city," according to the agreement. $1 million per year, plus an additional 2% each year, for 20 years once gaming begins.
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Lagoon Water Park, Entertainment Venue Headed to West Valley.... A new regional tourism asset for the NW Valley!
A beach party in Arizona might not be such a wacky idea in a couple of years because the West Valley will soon be home to an 11-acre beach lagoon, planned to include scuba diving, windsurfing and water jet packs as part of a 48-acre entertainment destination. TV News Story The planned project be near the Westgate Entertainment, near E 95th Avenue and Cardinals Way, near the State Farm Stadium. The developer of the project is ECL Glendale LLC. Crystal Lagoons Island Resort, will have a similar feeling to Downtown Disney, with experiential retail, amusement park rides, a 4D theater, a themed hotel and other hotel uses on the site. The project will also include an “aero bar,” a bar in the middle of the lagoon on a vertical structure that becomes elevated 135 feet in the air so patrons can get a 360-degree view. It also will include the world’s largest helium balloon. The balloon will be on a tether with a gondola that raises riders 400 feet in the air. The 4D theater will incorporate sensory elements like smell, temperature or moisture into the viewers’ experience. The theater will be in conjunction with SimEx-Iwerks Entertainment, which has access to Disney proprietary character and products. |
Industrial Construction Report
The Phoenix and the entire west valley, is on track for a record level of new industrial supply to be completed in 2020, but so far new supply has outpaced demand, according to CoStar research. According to data compiled by Jessica Morin, director of market analytics for CoStar “Phoenix ranks ninth for U.S. markets with the most industrial space under construction. When the space under construction is completed, it will expand the market’s existing stock by 3.1%. That being said, Glendale and Goodyear have the most space under construction as compared to their existing space. Glendale will add about 40% to its inventory and Goodyear will add about 20% when the space under construction is completed. Nationwide, industrial net absorption was forecast to remain negative through the remainder of 2020 and into the beginning of 2021, according to a study done by NAIOP. However, Arizona has not seen the steep decline some other markets have suffered, Suzanne Kinney, president and CEO of the Arizona chapter of NAIOP said. “There have been a handful of large deals that have gone our way,” Kinney said, adding that several manufacturers have recently moved or expanded in Phoenix recently, and users like food and beverage makers are also growing in the area. Some of the growth, such as the pivot by Honeywell in Phoenix to make personal protective equipment, were directly related to the Covid-19 pandemic, Kinney said, but other moves were “a continuation of the positive trends we’ve seen over the past few years.” |
PPP Loans helped nearly 1,500 local businesses a Chamber report says
A new Surprise Regional Chamber of Commerce report showed almost 1,500 small businesses in the Northwest Valley have received $155 million in PPP loan assistance.
Based the Chamber’s latest data, the PPP loans helped to retain 6,879 workers in the region (El Mirage, Sun City, Sun City West, Surprise, Waddell and Youngtown.) However, several small businesses in Surprise and surrounding areas are still suffering from the COVID-19 slowdown and waiting for Congress to act on additional bailout money.
“When the previous bailout programs were rolled out there was much confusion and turbulence, and small businesses did not initially fair well,” Chamber President and CEO Raoul Sada said. “The Chamber wants to do its part, making sure that does not happen again, and we are lobbying Capitol Hill for a packages that favor small businesses.”
Key Points:
•The SBA has just released a massive trove of data on PPP loans. This was a significant step forward in transparency by the government, prior to this the SBA resisted requests to share the recipients of the funds. This is why it is so important for the Chamber to hold government officials accountable, and for us to demand transparency at all levels of government (local, state and federal!)
•More than 81,000 Arizona businesses and nonprofits have received forgivable loans through the federal government's Paycheck Protection Program totaling $8.6 billion, according to the U.S. Small Business Administration.
•The Paycheck Protection Program, which was designed to avert mass layoffs during the Covid-19 pandemic.
•PPP loans are not made by SBA. PPP loans are made by lending institutions and then guaranteed by SBA.
•According to the data, 58 businesses in Arizona received between $5 and $10 million, the maximum amount allowed under the program. But the vast majority of loans, approximately 86%, are valued under $150,000.
•Close to 1500 small businesses received PPP loans in the six cities that make up the Chambers service territory. The amount of cash infused into our local economy was over $154 million dollars! Based on application data, the loans help to retain 6,879 workers in our region.
•Approximately 42 businesses were non-profits (2.8% of the recipients)
Based the Chamber’s latest data, the PPP loans helped to retain 6,879 workers in the region (El Mirage, Sun City, Sun City West, Surprise, Waddell and Youngtown.) However, several small businesses in Surprise and surrounding areas are still suffering from the COVID-19 slowdown and waiting for Congress to act on additional bailout money.
“When the previous bailout programs were rolled out there was much confusion and turbulence, and small businesses did not initially fair well,” Chamber President and CEO Raoul Sada said. “The Chamber wants to do its part, making sure that does not happen again, and we are lobbying Capitol Hill for a packages that favor small businesses.”
Key Points:
•The SBA has just released a massive trove of data on PPP loans. This was a significant step forward in transparency by the government, prior to this the SBA resisted requests to share the recipients of the funds. This is why it is so important for the Chamber to hold government officials accountable, and for us to demand transparency at all levels of government (local, state and federal!)
•More than 81,000 Arizona businesses and nonprofits have received forgivable loans through the federal government's Paycheck Protection Program totaling $8.6 billion, according to the U.S. Small Business Administration.
•The Paycheck Protection Program, which was designed to avert mass layoffs during the Covid-19 pandemic.
•PPP loans are not made by SBA. PPP loans are made by lending institutions and then guaranteed by SBA.
•According to the data, 58 businesses in Arizona received between $5 and $10 million, the maximum amount allowed under the program. But the vast majority of loans, approximately 86%, are valued under $150,000.
•Close to 1500 small businesses received PPP loans in the six cities that make up the Chambers service territory. The amount of cash infused into our local economy was over $154 million dollars! Based on application data, the loans help to retain 6,879 workers in our region.
•Approximately 42 businesses were non-profits (2.8% of the recipients)
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