Phoenix—Progress in the West Valley continues as EJMDevelopment Co. has broken ground on $5 million worth ofinfrastructure development at Goodyear Gateway South in Goodyear.Goodyear Gateway South is a 221 acre industrial zoned park locatedjust north of the Phoenix Goodyear Airport that has recently beensubdivided with lots ranging in size from 9.6 acres to 50acres.

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Fred Stiles, regional director with EJM,tells GlobeSt.com that construction on streets andutilities is underway, which will lay the framework for themaster-planned industrial park to attract major users to the area.The street improvements will be complete in the 4thquarter of 2014 and include full width 143rd Avenue fromVan Buren Street to Yuma Road and improvements to Yuma Road as wellas a traffic signal at 143rd and Van Buren.

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“The West Valley has emerged as the next epicenter of majorcommercial development in metropolitan Phoenix,” says Stiles. “Asmajor employers look to locate and expand in the Valley, it'simportant that we are able to offer high quality industrial zonedshovel-ready sites. The development of infrastructure, streets andutilities at Goodyear Gateway South is major step towards beingready for incoming users.”

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In addition to offering shovel-ready sites, Stiles points to thepark's designation as a foreign trade zone as another boon tofuture users.

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“The U.S. Foreign Trade Zones program expedites and encouragesforeign commerce making Goodyear Gateway South an attractivelocation for any industrial, manufacturing, distribution orwarehouse user doing business internationally,” said Stiles. “Andin the state of Arizona there is an additional tax benefit forproperties in foreign trade zones that allows for significantreductions in both real and personal property taxes. The deals thatwe're seeing are almost all falling into FTZ requirements.”

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According to the Greater Maricopa Foreign TradeZone website: There is a tax benefit tied to thereal estate and property taxes that all real property, machineryand equipment pays in Arizona. The FTZ “re-classification”under Arizona State Law allows for any property in a Zone thatis both approved and activated, to be re-classified downfrom 20% valuation to 5% valuation (this is a 75% reduction intaxable value). Therefore, Zone users, tenants, owners, andZone Operators who locate inside an approved FTZ site, and activatethe site, receive a discount on their taxes of 75%annually.

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The master-planned industrial park also benefits from proximityto the Phoenix Goodyear Airport and Interstate-10 and its locationwithin one of the Southwest's fastest growing markets, which offersunparalleled accessibility to both metro Phoenix and other majormarkets in the Western United States.

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“Goodyear Gateway South is ideally situated on a number offronts,” said Pat Feeney, senior vice presidentwith CBRE's Phoenix office, who heads up themarketing and leasing team for the property. “Users that transportgoods intra- and inter-state will be well positioned to conductbusiness efficiently. What's more, a talented, deep and productiveworkforce lives in the immediate area, while freeways put Goodyearwithin an hour of all 3.8 million workers in greater Phoenix.”

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The 221-acre, foreign trade zone-approved Goodyear Gateway Southis part of the larger 350 Airport Gateway at Goodyearmaster-planned community. At build-out Airport Gateway will featureapproximately 3 million square feet of planned industrial/workspace at Goodyear Gateway South and an additional 2.5 millionsquare feet of upscale regional retail, hotel, office and medicaloffice uses at Goodyear Gateway North.

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