Both retaining and attracting sales tax revenue are vitally important tasks for the town’s government. About 40 percent of the General Fund revenues are generated by local sales taxes and the town does not levy a property tax. The town’s sales tax, officially known as the transaction privilege tax (TPT), is currently 2.33 percent, with the .33 reserved for road projects. The other 2 percent is used to pay for services such as the police department, library, engineering, parks and general government.
The Economic Development Manager is responsible for developing and implementing programs that will help revitalize retail corridors, attract new businesses to the community and help the community reach its economic development goals. The office staff compiles and distributes economic data, some of which is found on this website.
In just the past few years such businesses as Chili’s, IHOP, Panda Express, Kohl's, Home Depot, Sam's Club, Hobby Lobby and many others have opened in Prescott Valley.
Prescott Valley Crossroads, a 600,000 square-foot power center broke ground in 2007, with Sam’s Club, Hobby Lobby, and Home Depot anchoring Prescott Valley’s first regional shopping center.
The Kohl's grand opening in the fall of 2007 marked the opening of Glassford Hill Marketplace located within walking distance of Tim's Toyota Center. A Wal-Mart supercenter is scheduled to be under construction in 2011 with an opening planned for early 2012 in the 400,000 square-foot power center.
Development in the town center and the entertainment district continues at a brisk pace with such establishments as Harkins Theatres, Fuddruckers, and Buffalo Wild Wings anchoring the area. The 5,000-seat Tim's Toyota Center anchors the northern end of the Entertainment District. Home to the Central Hockey League Arizona Sundogs, the $30 million venue has played host to major-name concerts like ZZ Top, Vince Gill and Willie Nelson as well as sporting events like boxing and motorcross, and family-style entertainment like the Harlem Globetrotters and Disney on Ice.
In addition to recruiting new retail businesses to the community, the Economic Development Manager is available to help new and existing retail businesses solve issues, promote business vitality and development and generally promote an understanding of the town’s programs and goals.
The Economic Development Manager is the town’s liaison to the business community, the Chamber of Commerce, the Prescott Valley Economic Development Foundation, and other state and local economic development agencies.
For more information, please contact the Economic Development Manager.