GOVERNOR HOBBS ANNOUNCES NEARLY $8 MILLION TO SUPPORT ARIZONA SMALL BUSINESSESArizona Commerce Authority awarded Department of Treasury Grant to provide critical support to small businesses
PHOENIX, AZ (September 17, 2024) – Today, Governor Katie Hobbs and the Arizona Commerce Authority announced Arizona will receive a $7.9 million grant from the U.S. Department of Treasury as part of their State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). Since taking office, Governor Hobbs has met with countless small business owners and understands the need for increased access to capital. Recognizing this, Governor Hobbs identified this grant as a priority to connect small businesses in key areas – manufacturing, clean energy, semiconductors – to historic investment opportunities that allow them to thrive in Arizona’s economic ecosystem. The funding will be used to expand and enhance already successful small business programs.
“Small businesses are the backbone of our economy and are the heart and soul of the communities they serve,” said Governor Katie Hobbs. “This grant will unlock vital resources for underserved small businesses, allowing them to take advantage of historic federal investment. I am grateful to the Department of Treasury for awarding this funding, and to the Arizona Commerce Authority for their hard work making sure Arizonans get the support they need. I will continue to make sure that anyone with a bright idea and an entrepreneurial spirit has an opportunity to not just start a business, but to see it thrive.”
“We’re honored the ACA has been selected as a grant awardee under the SSBCI Investing in America Small Business Opportunity Program,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “Small businesses are the foundation of our growing economy, and this grant will enable the ACA and Arizona to further support the success of underserved Arizona small businesses, leading to more economic opportunity for Arizonans statewide. We’re grateful to the U.S. Treasury Department and the Small Business and Community Investment Programs Office of Capital Access, as well as to Governor Hobbs and all of our partners working to support small businesses.”
ACA’s application was one of the top 3 applications of the 14 submitted, winning $7.9 of $75 million in total funds available, and was highlighted by U.S. Deputy Secretary of the Treasury Wally Adeyemo.
Arizona was selected for the SBOP award through a competitive selection process. The funding will expand and enhance technical assistance programs to foster economic growth across the state, with a focus on rural and mining communities, and will provide vital support to very small businesses (VSBs) and underserved businesses. To further support Arizona small businesses and entrepreneurs, the award will expand three existing programs: DreamBuilder, Moonshot, and the Arizona Manufacturing Extension Partnership (AZ MEP).
Developed by Freeport McMoRan and managed by the Thunderbird School of Global Management at ASU, the DreamBuilder program will expand its in-person cohort program to nine additional Small Business Development Centers (SBDCs) statewide with the new funding. Combining online training with live classes, DreamBuilder will help women and underserved entrepreneurs enhance skills, including financial planning. Moonshot, a rural-focused pitch competition, will extend its tour to four additional communities, and will provide bilingual resources to Hispanic and Latino entrepreneurs. Additionally, Arizona expects that AZ MEP will provide training and advisory services to 900 rural and underserved manufacturers, helping position them for success and growth opportunities in sectors like semiconductors, clean energy, and defense.
Media Contact Alyssa Tufts, Arizona Commerce Authority, [email protected]
About the Arizona Commerce Authority The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter @azcommerce.
Moonshot’s Flagstaff Campus Hosts Summer Open House & BBQ, Showcasing Local Resources and Partnerships
Flagstaff, AZ – August 15, 2024 – Moonshot successfully hosted its Summer Open House & BBQ at the Flagstaff Campus, bringing together entrepreneurs, partners, and community members to celebrate innovation, collaboration, and the startup community. The event underscored Moonshot’s dedication to fostering entrepreneurship in Northern Arizona, featuring workshops, discussions, and new partnerships with Growth Partners Arizona (GPAz) and Aspey Watkins & Diesel (AWD Law).
Attendees enjoyed a lunch provided by Wil’s Grill BBQ and Marlee’s Lemonade, this year’s winner of the Maricopa stop on Moonshot’s 2024 Rural AZ Pitch Tour. The event also included workshops, networking opportunities, and campus tours, highlighting the cutting-edge work being done by Moonshot’s resident startups. Exciting prizes, including a two-night Pin Drop Travel Trailer rental and other local goods, were also up for grabs, thanks to generous donations.
The open house was a pivotal moment in Moonshot’s ongoing mission to drive economic growth and sustainability in the region. The addition of Growth Partners Arizona and AWD Law as on-campus partners enhances the support available to local entrepreneurs, providing essential resources to help them succeed in a competitive market.
“Our collaborative approach, anchored by our new Flagstaff office, is key to driving meaningful change,” said Andre T. Whittington, Executive Director of Growth Partners Arizona. “This partnership is about more than offering business microloans; it’s about building a sustainable future for our communities.”
“AWD Law continues to be excited about its collaboration with Moonshot and its many enthusiastic entrepreneurs,” said David Johns, attorney with AWD Law. “The lively Moonshot Open House was another example of how Moonshot is energizing the startup community in Northern Arizona. We look forward to more inspiring programs in the near future.”
“We’re proud to be at the heart of this thriving community,” added Scott Hathcock, President and CEO of Moonshot. “Our partnerships and the entrepreneurial talent in this region showcase our commitment to nurturing the innovative spirit of Northern Arizona.”
The day-long event featured campus tours, interactive sessions with entrepreneurs, and insights into Moonshot’s future plans. The event concluded with a Flagstaff Gravity Lab Collider meetup, reinforcing Moonshot’s strong focus on collaboration.
“The City of Flagstaff contracts with Moonshot to provide business support services, as well as to manage the Business Incubator and Business Accelerator buildings as part of its investment in entrepreneurship in Flagstaff,” said David McIntire, Community Investment Director for the City of Flagstaff. “Moonshot has been a strong partner over the years, and this event was a great example. It was wonderful to see new business owners learning what is important to launch their businesses while becoming more familiar with the services and facilities available to them.”
Hathcock added, “This inaugural open house event was so well attended and the response was so positive, that we’re already planning to host two open house events per year.”
About NATBI (D.B.A. Moonshot), 501c3/Tax ID 861019180: Moonshot is an entrepreneur development program that promotes the creation and sustainable growth of local businesses for job creation. Moonshot offers multi-track programs to help companies become ready for the market as well as entrepreneurship mentoring, workforce development, speaker series, and community events. www.moonshotaz.comMoonshot is a registered trademark of NATBI.
Moonshot Client Carol Kahn Designs to Reach New Heights and Exposure with Exclusive Jewelry Collection at "2023 Travel + Leisure World's Best" Enchantment Resort
