Arizona needs to look overseas to be successful in economy
The Arizona Republic
Arizona's economy could use a makeover to enhance its global competitiveness.
That sentiment was reiterated Wednesday at the Global Arizona 100 conference in downtown Phoenix. The event, sponsored by Science Foundation Arizona and the Morrison Institute for Public Policy at Arizona State University, aimed to identify key challenges and opportunities as Arizona enters its second century of statehood in 2012.
"We don't really have a fully rounded economy," said Tim James, director of research and consulting at the L. William Seidman Research Institute. "We have relied for too long on people providing an influx of money (from tourism and newcomers to the state) without exporting enough."
The state's slow recovery from recession and lingering real-estate weakness have exposed shortcomings in the business model here -- problems exacerbated by government budget cuts, a scarcity of world-class corporations, a suspect education system and more, conference attendees said.
But what sort of blueprint should Arizona adopt to enhance its global competitiveness? And what role should government play?
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