TheCity of Yuma is committed to growing and diversifying its economy. The City, inconjunction with the GreaterYuma Economic Development Corporation (GYEDC), has targeted select manufacturingand related industries. The City is encouraged by its expanding labor market,available real estate, dependable water supply, and a development process thatis business-friendly. These factors, combined with the City’s proximity toCalifornia and Mexico, and cost of doing business, have resulted in several industrialoperations announcing facility plans for Yuma in the past 24 months.
Each of these new projects reflects the City’s target industry and serve to further diversify the City’s economy. The geographic focus of business attraction activity for the City is:
- The Upper Midwest
- Parts of the East Coast Mexico as a source of companies, new capital investment, and jobs.
The City’s outreach efforts reflect a sales strategy of:
- Delivering lower operating costs,
- Offering a business-friendly/problem solving regulatory environment,
- Recognition of strategic business plan desires to expand beyond the east coast and grow market share in the West.
Another aspect of business recruitment is retail trade. The City is seeking to expand retail options for area residents by focusing on high impact sites and retailers new to the City. Key target areas are locations consistent with the City’s Infill Incentive Plan, redevelopment sites, and the 16th Street Corridor especially along 4th Avenue and Avenue A. Siting factors for retailers are very different from industrial recruitment. Primary siting considerations for new retailers are demographics, size of the market, growth trends, and existing competition. Another element of retail recruitment is destination retail. These stores anchor shopping centers with their ability to pull customers from beyond the local market area. For retailers, the metro area’s key demographics are highlighted below: