by Staff Reporter | May 9, 2026 | Economy, News
By Staff Reporter |
Arizona’s Permanent Land Endowment Trust Fund (PLETF) market value surpassed $10 billion, the Arizona Treasurer’s Office announced.
PLETF reflects the deposits and investments of proceeds from public land sales. The federal government gave nearly 11 million acres to Arizona for endowment when it achieved statehood in 1912, just as it had done for other states.
PLETF has 13 beneficiaries, but its main beneficiaries are K-12 public schools, which includes the Arizona State School for the Deaf and Blind. Other beneficiaries include the state’s universities; state prisons; the State Hospital; the legislative, executive, and judicial branches; the Arizona Miners’ Hospital; and the Arizona Pioneers Home.
(State law slated the Arizona Pioneers Home and Arizona Miners Hospital for termination in July 2032).
Arizona Independent Redistricting Commission data reported the remaining total of state trust land to be about nine million out of the original 11 million acres. The state has a total of nearly 73 million acres.
That nine million acre estimate equals about 13 percent of total land in the state. Privately-held land only makes up 14 percent of Arizona land.
PLETF’s 10-year returns were reported to have outperformed the average U.S. college and university endowments for the past decade.
In February, the PLETF had a fair market value of $10.1 billion.
The latest reported all-time high, the newest in a succession of all-time highs, can be attributed to the treasurer office’s director of endowments, Tim White.
White has managed PLETF’s stock portfolio for nearly 30 years (since 1999). Per the treasurer’s office, White has the ultimate decision-making responsibility on all holdings and trades for PLETF.
White’s tenure has overseen a growth of the PLETF fair market value from $475 million in 1992 to repeated all-time highs, including the most present reporting.
Despite this progress, some argue the PLETF could be doing more.
The Common Sense Institute Arizona (CSI) issued a report critical of the approach to the PLETF last November. In it, CSI argued that the administration of PLETF has failed for a long time — not just for the duration of this administration, but for the last 100 years.
CSI claimed PLETF could have been worth more than $163 billion, over sixteen times this latest historic amount, and could have distributed $140 billion to beneficiaries.
CSI estimated in its report that the ordered sale of remaining trust land over the next ten years would generate more than $18 billion in revenue and $55 billion in new economic activity.
The organization’s director of policy and research, Glenn Farley, told KJZZ last December that the state has taken the most action on growing the financial account but hasn’t taken enough action on selling the physical land. Farley advocated for a “foundational reevaluation” of the state’s timeline for land sales and its PLETF priorities.
“[T]his is not an administrative problem,” said Farley. “This is a 100-year problem. No administration in this state has really taken full advantage of this asset.”
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by Ethan Faverino | Apr 19, 2026 | Economy, News
By Ethan Faverino |
The National Federation of Independent Business (NFIB) released a new report detailing the significant economic benefits and tax savings Arizona’s 706,640 small businesses will realize now that the 20% Small Business Tax Deduction has been made permanent.
The report also outlines additional federal tax relief measures signed into law that will support small business growth across the state.
According to the report, making the deduction permanent is projected to generate 26,000 new jobs annually in Arizona over the next 10 years, along with an annual increase in state GDP of $1.4 billion during the first decade. After 2035, the benefits grow even larger, with an expected $2.9 billion annual increase in state GDP and 49,000 new jobs created each year.
Nationally, the permanent deduction is expected to add 1.2 million jobs and $75 billion to U.S. GDP each year for the first 10 years, rising to 2.4 million jobs and $150 billion in annual GDP growth beyond 2035.
“Making the 20% Small Business Deduction permanent was a landmark win for Main Street — and Arizona small businesses are already seeing that benefit,” stated NFIB State Director Chad Heinrich. “But the conformity fight isn’t over, and every provision Arizona fails to adopt is a tax increase on hardworking small business owners.”
Since 2017, the Small Business Tax Deduction has allowed pass-through businesses to deduct up to 20% of their qualified business income. This relief has enabled small businesses to expand operations, hire more workers, invest in employees, and strengthen their communities. The deduction was originally scheduled to expire at the end of 2025, which would have resulted in a significant tax increase on nine out of ten small businesses.
On July 4, 2025, President Trump signed legislation making the 20% Small Business Tax Deduction permanent. This action provides long-term certainty for small business owners, allowing them to retain more of their earnings to reinvest in their operations rather than sending additional funds to federal and state governments. It also helps level the competitive playing field against larger corporations.
In addition to the 20% deduction, the legislation includes several other key provisions. The Section 179 small-business expense deduction was doubled from $1.25 million to $2.5 million and will now be indexed for inflation, allowing businesses to immediately deduct the full cost of qualifying equipment and property.
The 100% bonus depreciation under Section 168(k) was permanently restored, enabling businesses to fully deduct the cost of qualified property in the year it is placed in service rather than spreading depreciation over many years.
Lastly, the estate tax exemption was permanently increased to $15 million for individuals and $30 million for married couples filing jointly, with inflation adjustments. This change helps family-owned small businesses avoid being forced to sell or liquidate assets to pay taxes upon the owner’s death.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | Apr 15, 2026 | Economy, News
By Matthew Holloway |
A new report from the Common Sense Institute finds that rising costs for housing, groceries, insurance, and child care continue to strain affordability for Arizona families, even as inflation has cooled from its post-pandemic peak.
According to CSI’s latest affordability rankings, Arizona is now the seventh least affordable state in the nation and ranks 45th overall when comparing household incomes to the cost of essential expenses. The state has fallen 12 spots in affordability since 2019, but remains more affordable than Florida, Oregon, New York, Massachusetts, and California, which ranked 46th through 50th, respectively.
CSI’s analysis found that Arizona households retain about 19.6% of their gross income after paying for taxes and basic expenses such as shelter, groceries, health insurance, car insurance, gasoline, and child care. That amounts to about $1,700 per month left over, compared to the national average of 24.7% ($2,170 per month).
The report found that Arizona households are spending about $19,300 more per year on essential expenses than they did in 2019, exceeding the national average increase of $15,400. CSI estimates that Arizona households have effectively lost 3.8% of their gross income to rising prices since before the pandemic.
Housing costs have continued to be the primary cause of affordability challenges in the state. According to a recent report, shelter and utility costs for Arizona households rose by $9,012 annually between 2019 and 2025, a 59% increase that ranked as the fourth-largest increase in the country. Arizona also experienced some of the nation’s fastest-growing grocery and car insurance costs during the same period.
CSI reported that grocery costs rose by $3,375, child care costs by $3,950, health insurance costs by $1,302, car insurance costs by $1,355, and gasoline costs by $313 between 2019 and 2025.
The report found that child care remains a major expense for working families. In Arizona, one full-time working parent must devote about 38% of their gross income to cover child care costs, slightly below the national average of roughly 40%. Nationally, CSI estimated that the average household spends about 16.9% of gross income on child care for preschool- and school-aged children.
“Inflation reports may show things are cooling, but that doesn’t mean life is getting more affordable for Arizonans,” said Zachary Milne, Senior Economist and Research Analyst for the Common Sense Institute AZ. “Our analysis shows the cost of everyday essentials is still significantly higher than it was before the pandemic, and for many families, incomes haven’t kept pace. That gap is what continues to drive the affordability challenges we’re seeing across Arizona today.”
CSI noted that inflation in the Phoenix area has moderated in recent months, with consumer prices rising 2.2% year over year in December. However, according to CSI’s Arizona inflation update, prices in the Phoenix metro area remain 28.9% higher than they were in December 2019, resulting in an additional $1,441 in average monthly costs for a typical Arizona household.
Arizona households are also carrying greater debt, coupled with declining credit scores and rising delinquency rates, at levels significantly higher than the national average, according to CSI’s April 1 report.
CSI detailed its data sources and methodology on its website.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Ethan Faverino | Feb 28, 2026 | Economy, News
By Ethan Faverino |
As the 2026 Cactus League Spring Training season kicks off, bringing fifteen Major League Baseball teams to ten stadiums across the Valley, a comprehensive new analysis from the Common Sense Institute (CSI) highlights the significant economic benefits of this annual tradition.
The report estimates that the season, running from February 20 through March 24 with 225 scheduled games, will generate between $210 and $953 million in GDP for Arizona, driven primarily by new spending from out-of-state visitors.
“Spring training is when Arizona’s tourism industry truly steps up to the plate,” wrote Katie Ratlief, Executive Director of CSI. “Each February and March, fans from across the country bring new spending into our hotels, restaurants, and small businesses — supporting jobs, generating tax revenue, and driving measurable economic growth.”
According to the CSI and Cactus League, an estimated 1.8 million fans are expected to flock to venues all over the Valley. About 65% of attendees are projected to come from outside Arizona, injecting fresh dollars into the state’s economy.
Out-of-state visitors—including fans, players, coaches, team staff, and their companions—are anticipated to spend between $210 million and $590 million directly on categories such as lodging, restaurants and bars, groceries, in-state transportation, and game tickets. Key spending breakdowns include:
- Hotels: $74 million to $335 million
- Restaurants and bars: $46 million to $105 million
- Groceries: $23 million to $52 million
- Transportation: $10 million to $45 million
- Game Tickets: Approximately $52 million
This direct spending is expected to ripple through the economy, resulting in:
- Total business sales output: $341 million to $1.6 billion
- GDP Boost: $210 million to $953 million
- Personal income increase: $46 million to $556 million
- Disposable personal income boost: Up to $486 million
- Jobs supported statewide: 668 to 9,697
The report notes that, for the first time, favorable conditions—including strong attendance and potentially higher per-visitor spending—could push the overall economic impact beyond the $1 billion mark this year.
The influx is also projected to generate between $12 million and $33 million in additional State Transaction Privilege Tax (TPT)—Arizona’s equivalent of sales tax—providing a further boost to state and local coffers.
“Arizona’s strong policy environment and world-class quality of life make it possible to attract major recurring events like the Cactus League,” added Ratlief, “and it is a big part of why tourism is a consistent and powerful contributor to our state’s economy.”
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | Feb 4, 2026 | Economy, News
By Matthew Holloway |
Arizona’s growing role as a national hub for data centers could be undermined by municipal regulations driven by concerns over water use, electricity demand, and land use, according to a new policy report released by the Goldwater Institute. The report, Data Centers: A Free Market Model for the Digital Future, argues that Arizona’s success in attracting data center investment stems from long-standing policy choices that favor predictable regulation, private property rights, and a stable legal environment.
The authors note that “artificial intelligence has dramatically accelerated these trends. Demand for data has increased exponentially. How communities, businesses, and policymakers respond to this transformation will shape economic competitiveness for decades to come.”
The report also cautions that a rise in local-level restrictions could threaten the state’s competitive position in the digital infrastructure sector.
William Beard, municipal affairs liaison at the Goldwater Institute and a co-author of the report, explained, “Data centers are the physical backbone of cloud computing, artificial intelligence, digital commerce, and national security. They are core infrastructure, no different in principle from transportation networks, energy production, or large-scale agriculture built to meet the demands of a particular era.”
Beard added that Arizona’s emergence as a leader in data center development has already produced economic benefits for the state. “Arizona is thriving as a leader in data centers, the state is reaping the economic benefits, and policymakers must take steps to ensure that continues,” he said.
According to the report, the Greater Phoenix region has become one of the top data center markets in the United States, with capacity projected to exceed 5,000 megawatts—an expansion of more than 500 percent. Goldwater attributes the dramatic growth to regulatory predictability and policies that encourage investment rather than discourage it, as well as “affordable land; reliable energy; and a legal environment anchored in strong private property rights.”
However, the report also warns, “Continued growth is no guarantee, especially as local governments threaten data centers with restrictive policies.”
Data center developments, such as the 290-acre data center Project Blue in Pima County and Project Baccara in Surprise, have sparked heated controversy at the municipal and county levels.
Citing growing municipal resistance to data center projects, Jen Springman, coalitions manager at the Goldwater Institute and a co-author of the report, said opposition is often rooted in misunderstandings about the impacts of infrastructure.
“Arizona’s advantage is increasingly threatened by a growing municipal-level regulatory backlash, often driven by misconceptions about water use and electricity demand,” Springman said.
Regarding water consumption, Springman said, “Modern data centers are among the most water-efficient industrial facilities ever built.”
The report further challenges claims that data center development is responsible for rising electricity prices. “Electricity prices, meanwhile, are not a data center problem; they are a policy outcome,” Springman said.
She added that misdirecting blame can lead to ineffective policy responses. “Blaming infrastructure for political energy choices obscures the real cause—and produces the wrong solutions,” Springman said.
Goldwater’s report argues that local restrictions do not reduce demand for digital services, but instead risk shifting investment to other states while increasing costs for consumers and businesses.
In a summary of the report’s conclusions posted to X, Goldwater stated, “The question is not whether data centers will exist, but whether Arizona will continue to lead—or retreat in the face of the future.”
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
