In a move poised to spur economic growth outside Arizona's urban hubs, Governor Katie Hobbs has dusted off the Greater Arizona Development Authority (GADA), a valuable financing instrument for rural and tribal infrastructure, which had lain dormant for a decade. GADA functions as an infrastructure bank using its resources as leverage to aid communities typically barred from conventional loan avenues.
"GADA is a proven tool for assisting economic development in our rural communities," Hobbs stated, as captured by AZPM, signaling her administration’s vision for renewed investment in transportation, clean energy, and other critical infrastructure. The state expects to funnel between $50 to $100 million into projects within the next year through this initiative, AZPM reports.
Historically, the Authority has been instrumental in enabling 84 projects, securing over $574 million in bonds for various infrastructure endeavors, including civic necessities such as firehouses and community centers. The Governor's office captures the essence of these efforts as more than just financial transactions but as the linchpin of community resilience and expansion.
Robin Romano, the Board Chair of the Arizona Finance Authority which oversees GADA, underscored its continuous mission "to assist Arizona's rural communities and tribal governments with the development of public infrastructure projects that enhance community and economic development." This sentiment is echoed by representatives from tribal authorities, who see GADA's revival as a beacon of hope for underserved areas. “Reservation communities and tribal lands in Arizona remain underserved when it comes to access to capital and other resources essential to infrastructure development,” said Maria Dadgar, the Executive Director of the Inter-Tribal Council of Arizona.
