Jeff Bassett is the senior vice president of sales at Footprint and explains why the materials science company chose to be based in Arizona.
Sun Belt has attracted many companies to Arizona because of its business-friendly environment. One executive noted that tax incentives and a large employee base incentivized his materials science company to be in Arizona.
Senior Vice President of Sales at Footprint, Jeff Bassett, said during a live interview with FOX Business’ Grady Trimble on “Varney & Co.” on Wednesday that the company “needed a strong foundation” and was lured to Arizona given the area had employees that were trained as material scientists, engineers, among other roles “all the way down the chain.”
“We found Arizona had a great pull because of the educational facilities and institutions and just a great employee base to begin with,” Bassett explained.
Footprint, a Phoenix-based company, was founded with the aim “to create a better planet.” According its website, the company also claims that it invents, manufactures, and replaces short-term plastic.
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The company was founded in 2014. It stated that it helps retailers, food companies, and other businesses “transition to plant based solutions, reduce carbon dioxide emissions, cut waste and achieve sustainability goals.”
Phoenix skyline at sunset (iStock / iStock)
Bassett also cited tax incentives as a major reason for the company’s choice to operate in the state.
“Those early costs of start-up, getting the job training credits and the property tax negotiated into those deals and those incentive plans was really critical and we found that both Arizona and the specific city that we’re in had one of the best packages we found,” he said.
From Arizona to Texas to North Carolina, the Sun Belt is becoming a hot spot for business relocation as companies across the United States are cutting costs by moving south.
Jeff Holzmann, the CEO of asset manager firm IRM Services, said that the company’s move from New York-New Jersey to Dallas has saved them millions of dollars in less than two decades.
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Holzmann stated that his company pays about 60% less in Dallas than it would in New Jersey on a per foot, per employee basis. He also noted that Manhattan would have a lower figure.
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He stated that the Sun Belt is “a wonderful place to be” due to “the affordable prices” and “the talent available” and looking for opportunities.
Some of the tech giants making their way south include Apple, Tesla, and Hewlett Packard Enterprise.
Samsung is another major corporation that is moving to Texas. This alone will create around 2,000 jobs in Austin.
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FOX Business’ Joy Addison contributed to this report.
