Title
Arizona BioIndustry Association Annual Membership for Fiscal Year 2023-24 (Ordinance S-49917)
Description
Request City Council to authorize the City Manager, or his designee, to pay membership dues to the Arizona BioIndustry Association (AZBio) for Fiscal Year (FY) 2023-24 in the amount of $15,000. There is no impact to the General Fund with this action. Further request to authorize the City Controller to disburse all funds related to this item.
Report
Summary
CBRE, Inc., a national commercial real estate firm, has recognized the City of Phoenix as a hub of bioscience activity and has ranked Phoenix fifth in the nation as an Emerging Life Science Market in its 2020 annual U.S. Life Science Report and first for Life Science Job Growth in Emerging Life Science Markets in its 2021 report. The City has been a member of the AZBio for six years and staff recommend continuing this membership for FY 2023-24 to maintain and grow the City's position in the industry. AZBio is the only statewide organization exclusively focused on building Arizona’s bioindustry and it is committed to building a top-tier life science industry in Arizona and is a critical partner for Phoenix. As specialists, AZBio provides industry insight, programs specifically designed for life science organizations, visibility into investment opportunities, and a voice for the industry in the media, across the community, and with elected leaders and government agencies at the local, state, and federal levels.
Financial Impact
Annual membership is $15,000. Funding is available in the Genomic Facilities and Operations Fund. There is no impact to the General Fund.
Concurrence/Previous Council Action
The item was recommended for approval by the Economic Development and Equity Subcommittee at the June 13, 2023, meeting by a vote of 4-0.
Department
Responsible Department
This item is submitted by Interim Deputy City Manager John Chan and the Community and Economic Development Department.