Industry Focus

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Industry Focus Clean & Renewable Energy Arizona recently passed landmark legislation with a renewable industries creation in its high-growth, high-demand sustainability and diversified bill (SB1403) that allows companies in the solar, wind, biofuels and energy sectors. geothermal industries to receive tax breaks for locating or expanding their business in Arizona. Benefits include a state income tax credit With an environmental goal to radically reduce air pollution with benefit calculated according to what the projects provide in capital the introduction of biodiesel, a biodegradable, non-toxic alternative investment and job creation (capital investment includes facilities, fuel, Arizona BioDiesel reclaims used cooking oil from restaurants equipment, land and infrastructure) and temporary reclassification of and converts it into B99 biodiesel at its processing plant in Gilbert. real and personal property taxes for qualified projects. Headquartered in Gilbert since 2005, Diversified Energy Corporation is a privately held alternative and renewable energy company focused To complete the package, Arizona offers aggressive accelerated on maturing innovative technologies, developing commercial energy depreciation schedules that allow for a decrease in personal property projects and providing engineering services support to project tax liability equal to 94% of the scheduled value after five years and developers. Principal areas of expertise include gasification, biofuels, qualifying projects have the opportunity to access tax-exempt bond next-generation feedstocks, and bioenergy-related economic modeling financing through Gilbert’s Industrial Development Authority (GIDA). and commercialization planning. According to the National Renewable Energy Laboratory, the technical Realizing opportunity as a result of Gilbert’s collaborative partnerships potential for concentrating solar power in Arizona is nearly 2.5 at the regional, state and local levels, including its quality infrastructure, terawatts. Home to the world’s first School of Sustainability, Arizona access to leading, renewable energy education programs, and State University is establishing the Solar Power Laboratory to advance availability of a skilled workforce, these types of clean and green tech solar energy research, education and technology. companies find opportunity in Gilbert, creating green-collar jobs, strengthening the local economy and propelling positive global impact. First Solar, Kyocera Solar, Inc. and Stirling Energy Systems have already identified greater Phoenix as a leader in solar energy engineering and research. In addition, the state is attracting international attention from renewable energy heavyweights like Abengoa and Iberdrola with new technology in solar collection and the development of the Dry Lake Wind Project, Arizona’s first wind energy farm. With the Arizona Corporation Commission requiring that all regulated utilities produce 15% of their electricity from renewable sources by the year 2025, Gilbert, Arizona, is in an advantageous position to see substantial job 11.

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