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Economic Development Incentive for Phoenix Forge Expansion

  • When: 2025/05/28
  • Address: 535 W. Van Buren Street, Phoenix, AZ
  • City: Phoenix
  • State: AZ
  • Category: Economic Development Incentives
  • Asset Class: Commercial
  • Planning Department: True

This report requests the Economic Development and Housing Subcommittee recommend City Council approval for an intergovernmental agreement with the Maricopa County Community Colleges District (MCCCD), on behalf of Gateway Community College (Gateway), to support the expansion of the Phoenix Forge. The Phoenix Forge is an entrepreneur and innovation facility located at 535 W. Van Buren Street in Downtown Phoenix. The 17,000 square foot space, opened in 2021, serves MCCCD colleges, public members, and Arizona State University. MCCCD is planning a 4,000 square foot expansion to include a dedicated glassblowing facility, advanced manufacturing equipment, sanding room, finishing booths, and rental work bays. The City will contribute $250,000 towards the expansion's physical and programmatic startup costs, including construction of tenant improvements, furniture, fixtures, and equipment. The total renovation cost is estimated at over $3 million. An economic impact analysis projects the expansion will generate approximately $36 million in economic output over 10 years, including $400,000 in tax revenue for Phoenix. The City will also extend an existing parking agreement for an additional five-year term, providing 100 parking spaces at the City-owned Adams Street Garage with an annual parking maintenance fee of $2,000.

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