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Report: Small Businesses Express Optimism For Economic Growth

Published: Tuesday, June 11, 2019 - 1:54pm
Updated: Friday, June 14, 2019 - 11:41am
Supported by Beach Fleischman

A new report issued by the National Federation of Independent Business that tracks small-business owners’ attitudes on the economy cites increased optimism.

Chad Heinrich, Arizona state director for the nonprofit group that issues the monthly report, said small-business owners in the state cited plans for increasing capital investment which is ultimately good for job growth. 

“Things like vehicles and additional space. Remodeling of existing facilities. In some cases buying additional land or buildings. So, all of these capital expenditures translate into more employment needed,” Heinrich said. 

Heinrich said conforming Arizona's state tax code to match the federal Tax Cuts and Jobs Act was an important factor in creating optimism for small businesses.

Only one factor — historic low unemployment — was seen as a challenge for businesses to compete in a tight labor market.