How do you measure success?
For some small businesses, it’s simply being able to keep the lights on. But for others, it’s making it past the startup stage with access to enough capital to thrive.
The latter scenario is at the heart of Arizona’s Angel Investment Tax Credit program. Briefly, the program incentivizes investment for startups by giving investors a 30% state credit on qualifying investments or a 35% state credit for investments in startups in the rural or bioscience arenas.
A 2016 economic impact study commissioned by the Arizona Commerce Authority credited the program with an economic output of $1.3 billion and a tax revenue of $44 million — both of which continued to increase with job growth — since its launch a decade earlier.