Kenneth Silverman
Board of Directors
Pima County Industrial Development Authority
If you were to be asked by a site selector, what is the best part of doing business in Tucson, what are the areas you would highlight?
The ease of doing business in Tucson is a standout feature. The local government and regulatory bodies have consistently demonstrated a commitment to fostering a business-friendly environment. With streamlined permitting processes, a focus on reducing bureaucratic hurdles, and incentives for business growth, Tucson has earned its reputation as a welcoming city for entrepreneurs and corporations alike.
Moreover, the natural environment in Tucson adds to its appeal. The region boasts stunning landscapes, from the iconic saguaro cacti to the breathtaking vistas of the Sonoran Desert. This not only provides a beautiful backdrop for businesses but also contributes to a high quality of life for employees.
One aspect that sets Tucson apart is its small-town feel, despite being a city with a growing economy. Tucson retains a sense of community that can be hard to find in larger urban centers. This creates a supportive atmosphere for businesses, where networking and building relationships come naturally.
What are some of the emerging trends in your industry that could have an impact locally on site selectors looking at the Tucson region?
The insurance industry is undergoing a profound transformation driven by the impact of climate change. One of the emerging trends in our industry is the increasing prevalence of extreme weather events due to climate change. Tucson, like many regions, is not immune to the effects of climate change, with the potential for catastrophic events. These events have a direct impact on the insurance market, leading to increased claims and losses for insurance carriers.
It’s important to note that Tucson’s unique geographic advantages make it an attractive destination for insurance companies and their clients. The region enjoys a relatively low risk of natural disasters compared to many other parts of the country. Site selectors should recognize this as a substantial advantage when considering Tucson as a hub for insurance operations.
Aside from the areas you would highlight to a site selector, what are you most optimistic about for the future economic development in the region?
Tucson has a strong and growing talent pool. The presence of the University of Arizona and other educational institutions continually supplies the region with a diverse and skilled workforce. As the city expands its focus on innovation and technology, this talent pool will be a valuable resource for businesses looking to stay on the cutting edge of their respective industries.
Additionally, Tucson’s strategic location as a gateway to both the U.S. and Mexican markets positions it favorably for trade and commerce. Furthermore, the city’s commitment to sustainable practices and renewable energy sources aligns with global trends towards environmental responsibility
Lastly, the spirit of collaboration among local businesses and organizations is a driving force behind Tucson’s economic growth. The region’s business community actively engages in partnerships, innovation clusters, and networking events that foster entrepreneurship and economic development.
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