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Gutierrez: Next big frontier for Phoenix – Daily Independent

Gutierrez: Next big frontier for Phoenix – Daily Independent

By Xavier A. Gutierrez | Chairman and CEO, ImpactX Sports Group

Phoenix is ​​an urban wonder. Thanks to Native American ingenuity and the ingenious canal system later developed by the Salt River Project and others, sustenance and livelihood arrived in the harshest of environments.

The results are remarkable as this dynamic and diverse place rises to become the fifth largest city in America. The Valley is a community of growth, innovation, leadership.

Yet there is an obvious gap if we are to continue to take our place among the great global cities. The greater Phoenix area should be the next great investment and financial center of the United States. We need to have major investment banks, private equity funds, venture capital firms, real estate and infrastructure investment firms headquartered here.

Why focus on making Phoenix a major investment and financial center?

First, it is an opportunity to positively impact our entire economy. When there is a concentration of financial institutions, the entire valley benefits from the prestige, job creation and broader corporate support that comes from the presence of these types of firms and funds.

Second, young people, especially graduates of Arizona colleges and universities, will have the opportunity to build careers in finance and investments here.

Third, community and civic organizations will benefit from the leadership, philanthropic support, and business acumen of these firms and their executive teams.

Large credit unions, wealth management firms and back-office financial operations in metro Phoenix are a good thing. But they should be part of a wider financial ecosystem, not its trademark. Investment management firms and their service providers should be attracted to the Phoenix area’s favorable business environment, talent pool and high quality of life.

Infrastructure, real estate and energy funds focused on opportunities in our planet’s climate-resilient future must plant their flag in our community. Private equity and private debt funds must become part of our business community.

As someone who has a 30+ year career in banking, private equity and finance in addition to my most recent career in sports management and now institutional sports investment, I firmly believe that the Valley can and should assume the mantle as a major financial center. And this country knows how to get things done.

And this country knows how to get things done.

After the economic collapse of 2008, Arizona wisely created the Arizona Commerce Authority to make the state more competitive for large business hires. Once deprived of production, parts of the valley are now developing exceptionally in this regard.

Thanks to the boldness of past and present leaders like Phoenix Mayor Kate Gallego, former Governor Doug Ducey and current Governor Katie Hobbs, we are becoming one of the new semiconductor chip capitals of the world.

Arizona’s economic success over the past 20 years shows that extraordinary gains can happen. And I am very excited about the efforts of many public and private entities to attract more investment funds and companies. I recently participated in the Greater Phoenix Economic Council’s Ambassador Forum on “The Future of Finance” to discuss the opportunity we have to elevate the greater Phoenix metro area as a major financial center.

Many investment and financial firms come to our community for their conferences and conventions, and many industry executives come to the Valley for their vacations or make it their part-time home. We need to help them call this community their permanent home, where they can be part of a thriving and impactful financial center.

Becoming a center for finance, capital and investment is Arizona’s next frontier. Let’s all get together, get to work and do it.

Editor’s Note: Xavier A. Gutierrez is Chairman and CEO of ImpactX Sports Group. He lives in Paradise Valley. Reader reactions, pro or con, are welcome at [email protected].

Table of Contents

financial center,


economy,


phoenix,


greater phoenix,


metro phoenix,


Arizona Trade Authority,


Kate Gallego,


Doug Ducey,


Governor Katie Hobbs,


economic success,


Greater Phoenix Economic Council

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