The Greater Phoenix Chamber of Commerce is leading a new effort, also known as Phoenix Forward, to retain and grow existing businesses in the Valley. Unlike prior efforts, the $1.5 million initiative is focused on increasing the city’s footprint in four industries – bioscience, health care, advanced business and financial services, and transportation and logistics.

This strategy stems from understanding that 80 percent of job growth comes from existing businesses. By narrowing the focus to areas with the highest concentration of employers, the city will be able to make better use of its resources and accelerate business expansion.

According to the Phoenix Business Journal, Todd Sanders, CEO and President of the Greater Phoenix Chamber advised, “Phoenix Forward fosters a pro-business environment focused on quality job creation, robust business retention and expansion, and increasing regional capital investment.”

With plans to focus on the core industries and grow our economy from within, Phoenix Forward is expected to bring great economic results over short- and long-term periods.

To learn more about how Phoenix Forward is supporting local businesses and facilitating the growth and sustainability of our economy, visit http://www.phxforward.com.

Read more: Phoenix Business Journal and Arizona Capital Times