TRANSFORM TUCSON
INITIATIVE
In partnership with the City of Tucson, the Tucson Industrial Development Authority has developed an economic justice growth strategy to ensure that all residents, businesses, and neighborhoods have access to the resources they need to reach their full potential.
Regina Romero,
Mayor of Tucson
The investments I will be asking my Council colleagues to make will help us to power the future of Tucson with creating green jobs and infrastructure, greater entrepreneurial diversity, generational wealth creation, upward mobility, support for our small business ecosystem, and investments in a 21st century workforce.
This partnership will help us build our equitable, sustainable, thriving city.
GOAL ONE:
Invest in Tucson's climate resilient future.
GOAL TWO:
Close the wealth gap.
GOAL THREE:
Improve community resources through equitable development.
GOAL FOUR:
Increase the number of quality, future-proofed jobs.
"The Transform Tucson Initiative represents a multifaceted, five-part, catalytic investment, a "Green New Deal" for the city of Tucson.
These efforts sit in the cross-roads of economic and climate justice."
- Dre Thompson, CEO Tucson IDA
Projects
Corner
Stone
For a diverse economy
Climate Resilience
Small Business Support
Inclusive Development
AVANZA
Affordable Housing
Solutions
Workforce Development
Year Two Annual Impact Report
2024 Transform Tucson Initiative Project Update
In November of 2022, the City of Tucson and the City of Tucson Industrial Development Authority co-created a vision for catalytic investment in the future of Tucson, in a partnership called the Transform Tucson Initiative. This strategic program represents groundbreaking municipal fiscal innovation to build a lasting legacy. Seizing on a historic moment of federal funding, the The City of Tucson and the Tucson IDA realized we had a unique opportunity to meet the climate crisis head on, fully leverage new federal resources, while vastly expanding access to capital for the city’s underserved entrepreneurs, and create sustainable economic growth through local real estate ownership and affordable housing for our residents.
By the end of our first year, our initiative had generated $86,000,000 in economic impact for Tucson and as we conclude our second year, that number has risen to more than $145,000,000 with more than $95,000,000 in pending capital requests opportunities for FY25. Together, the City of Tucson and the Tucson IDA have successfully seeded new opportunities in all five pillars of the initial strategic vision.
The initiatives bundled into the Transform Tucson Fund represent groundbreaking municipal fiscal innovation to build a lasting legacy. The City of Tucson and Tucson IDA, partnered together, has the opportunity to meet the many challenges of our time head on.
With the Transform Tucson Initative we aim to uplift the quality of life, the economic opportunity, and long term resilience of our community.