Inside Tucson Business: News and Updates from the City

Tucson's business scene is thriving, with a diverse range of industries driving growth and innovation.

The city's downtown area is experiencing a revitalization, with new restaurants, shops, and entertainment venues opening up. This has led to an influx of new residents and visitors, injecting energy and excitement into the community.

Tucson's strong economy is supported by major industries such as technology, healthcare, and education. The University of Arizona, for example, is a major employer and economic driver in the region.

The city's growing population and economy are also attracting new businesses and entrepreneurs, creating opportunities for job creation and economic growth.

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Oro Valley officials are proposing a new 2.5% tax on commercial rentals and telecommunications. This tax aims to help offset the rising costs of core town services, such as public safety and road maintenance.

The proposed tax would directly impact businesses in OV, potentially affecting their bottom line.

In 2019, many businesses experienced significant growth and changes.

The global economy saw a moderate growth rate of 3.2%, a slight increase from the previous year.

More companies began to invest in digital transformation, with 75% of businesses stating that they had implemented or planned to implement digital technologies by the end of 2019.

The shift towards e-commerce continued, with online sales accounting for 14% of total retail sales globally.

In 2019, the world's top 100 companies saw a combined revenue of $40.5 trillion, with the top 10 companies accounting for over 20% of this total.

The use of artificial intelligence and machine learning in businesses became more widespread, with 40% of companies stating that they had implemented AI-powered solutions in 2019.

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Businesses in 2018 were a diverse and exciting bunch. Templo Fitness opened its doors on January 1st at 143 N Stone Ave.

In January, Berry Divine Açaí Bowls and Community Partners Inc. also joined the scene, both located on East Congress St and East Broadway Blvd respectively. Inspired Fitness opened in April at 15 E Pennington St.

Insomnia Cookies arrived on February 1st at 345 E Congress St. The Screening Room reopened in April at 127 E Congress St. Shop 44 and Buzz Smoke Shop opened their doors in April at 44 E Broadway and 125 E Pennington St respectively.

The Ninth House also opened in April at 236 S Scott Ave. Avenue Boutique and the other stores that followed in May, including Dust and Heritage, Fletcher and Co., Luca Ryann, Now or Never, Transit Cycles, Westbound, and Why I Love Where I Live, all opened at 267 S Avenida Del Convento.

Series 19, a Three Wells Distillery Tasting Room, opened in May at 13 N Stone Ave. Beaut Burger, a vegetarian grill, opened in June at the Mercado San Agustin Annex. Cobra Arcade Bar and Mister Car Wash (expansion) also opened in June at 63 E Congress St and 415 N 6th Ave respectively.

Hexagon Mining Company opened in July at 40 E Congress St. Isabella’s Ice Cream opened a second location in July at 267 S Avenida Del Convento. Iron John’s Brewing Co. and Hermosa Coffee also opened in July at 222 E Congress St and 267 S Avenida Del Convento respectively.

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Kaelen Harwell Spa opened in July at 151 E Broadway Blvd. Bombolé Eatery opened in July at 100 N Stone Ave. Ten 55 Brewing and Sausage House opened in August at 110 E Congress St.

Dirt Shop and Flam Chen opened in September at 267 S Avenida Del Convento and an unknown date. Raptor Canyon Cafe opened on September 17th at 75 E Pennington St.

Here's a list of all the new businesses that opened in 2018:

A new virtual golf club is opening in Tucson, bringing top golf courses to the city in a unique way. Back Nine, a 24-hour indoor golf simulator, is set to open on the northwest side near West River and West Orange Grove roads.

This club is a game-changer for golf enthusiasts who want to play a round without leaving town. The indoor setting allows for year-round golfing, regardless of the weather outside.

The club will offer a variety of virtual golf courses, giving players the opportunity to experience different courses from around the world.

Tucson's food scene is getting a boost with new restaurant openings. Miramonte, a mid-century inspired eatery, is serving up classic American and comfort food dishes in midtown Tucson.

The Little One, a downtown staple, is closing its doors after 40 years, with its last day being September 19. Marcela Davila announced the news, marking the end of an era.

New spots are popping up across the city, including a third location of Jimmy's Pita & Poke, which has leased 1,500 square feet on Tanque Verde Road. Bubbe's Fine Bagels is also expanding, with a third location opening soon.

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Jimmy's Pita & Poke has leased 1,500 square feet at 6540 E. Tanque Verde Road, between Pima Street and Kolb Road.

This new location will be the restaurant's third in Tucson, offering their unique blend of pita and poke cuisine to a wider audience.

The restaurant has a large following for their creative and healthy food options, making this expansion a great move for the business.

Their east coast-style sourdough bagels are fermented and kettle boiled, giving them a distinct flavor and texture that fans can't get enough of.

Jimmy's Pita & Poke is known for their high-quality ingredients and generous portions, making them a popular choice for locals and visitors alike.

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Get ready to cheer on your favorite University of Arizona teams in style! Grant Krueger, owner of Union Hospitality Group, is reopening a space downtown with a focus on Wildcat sports.

The new upscale sports bar will offer a unique experience for fans.

Flash-Frozen Treats are here to stay. A new shop called Chill-N Ice Cream is opening in Tucson by the end of the year, bringing liquid nitrogen ice cream to the city.

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The Mister Car Wash Speedway location just got a major revamp. It's a great opportunity to experience their fresh new look.

Their Tucson Speedway location is now open to the public after a grand reopening event on Sept. 27.

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Tucson's entrepreneurs are making a significant impact on the local economy. Grant Krueger, the owner of Union Hospitality Group, is a prime example of this.

Tucson's economy depends heavily on entrepreneurs like Grant, who have the drive and determination to turn their ideas into successful businesses. The University of Arizona plays a crucial role in helping entrepreneurs like Grant achieve their goals.

The University of Arizona helps transform ideas into businesses, setting Tucson's entrepreneurs up for success.

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Grant Krueger, the owner of Union Hospitality Group in Tucson, has been navigating the entrepreneurial waters in Tucson for several years. His experience is a testament to the importance of resilience in entrepreneurial success.

Resilience is key to overcoming obstacles and adapting to changing circumstances. It's what sets successful entrepreneurs apart from others.

Grant Krueger's experience in Tucson is a great example of this. He has been navigating the entrepreneurial waters in Tucson for several years.

Entrepreneurial success requires perseverance and determination. It's not just about having a great idea, but also about being able to execute it and overcome any challenges that come your way.

Grant Krueger's ability to navigate the entrepreneurial waters in Tucson is a great example of this.

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Building World-Class Entrepreneurs is crucial for Tucson's economy, and the University of Arizona plays a significant role in transforming ideas into businesses.

The University of Arizona helps entrepreneurs by providing resources and support to turn their ideas into successful ventures. Tucson's economy relies heavily on entrepreneurs, and the University is committed to helping them thrive.

The University of Arizona's efforts have a direct impact on the local economy, creating jobs and stimulating growth.

Tucson is actively working to bring quality jobs and investment into the region through the Primary Jobs Incentive. This incentive provides up to a 100% reimbursement of a portion of City construction sales tax to qualifying expenses.

The Primary Jobs Incentive specifically covers expenses such as public infrastructure improvements, offsets to impact fees, and/or job-training.

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The Primary Jobs Incentive is a great program for businesses looking to invest in Tucson's economy. It offers up to a 100% reimbursement of a portion of City construction sales tax to qualifying expenses.

Qualifying expenses include public infrastructure improvements, offsets to impact fees, and job-training programs. These investments can help businesses get started and grow in the area.

The reimbursement can be applied to a portion of the City construction sales tax, not the entire amount. This can help businesses save money and allocate resources more efficiently.

By investing in public infrastructure and job training, businesses can create a strong foundation for growth and success in Tucson.

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Oro Valley businesses may face a new 2.5% tax on commercial rentals and telecommunications. This tax is proposed to help offset the rising costs of core town services.

The tax aims to cover expenses for public safety and road maintenance. These are essential services that keep the community safe and well-connected.

Businesses in Oro Valley will need to factor in this additional cost when renting commercial spaces or providing telecommunications services. This could impact their bottom line and pricing strategies.

The tax is a significant consideration for local businesses, which will have to adapt to these changes to remain competitive.

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In Tucson's market, buying a new home might be cheaper than resale. Homebuilders are holding down prices with smaller lots and open floorplans to maximize indoor space.

Homeowners in Tucson have a unique opportunity to save money by buying a new home instead of resale. This is due to the fact that homebuilders are pricing their homes competitively.

The housing market in Los Angeles is no longer favoring homeowners who want to sell. Skyrocketing housing values and a shortage of homes on the market have given way to a more balanced market.

This shift in the market means that buyers have more options and can potentially find a better deal on a new home.

Tucson's downtown area is seeing a surge in development, with the Sunshine Mile getting a major upgrade. The revamped gateway into downtown from East Broadway will soon be home to a new housing complex, Welcome Broadway.

Investors from Seattle have taken notice of Tucson's growing rental market and have made a significant $16M investment in three local multifamily complexes, including vacant land zoned for future development.

The former Chase Bank building in midtown Tucson has been sold for $2.4M and is set to be redeveloped, bringing new life to the area.

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The Sunshine Mile is getting a fresh injection of life, and it's not just about commerce and culture. It's also about housing, with a new complex planned for the area.

The housing complex, called Welcome Broadway, will be the first of its kind along the upgraded Sunshine Mile, which is the gateway into downtown Tucson from East Broadway.

This complex is a sign of the Sunshine Mile's revitalization, with a focus on infill redevelopment. The district is located within the Rio Nuevo TIF district, which offers incentives and tools for redevelopment.

The $16 million investment in the area includes vacant land zoned for future multifamily development, indicating a growing demand for housing in the area.

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The mid-century bank building at 2465 N. Campbell Ave. in midtown Tucson has been sold for $2.4M.

This historic building is set to be redeveloped after its sale. The details of the redevelopment plans are not specified.

The former Chase Bank building has a new owner, but the specifics of the sale are only available to subscribers.

Tucson's business community is thriving, thanks in part to its vibrant downtown area. The city has invested heavily in revitalizing its downtown, with over $100 million spent on infrastructure improvements.

The Tucson Meet Yourself festival is a great example of the city's community spirit. This annual event celebrates the city's diverse cultures with music, food, and art.

Downtown Tucson's infrastructure improvements have made it easier for people to get around. The city has added over 20 miles of bike lanes and sidewalks, making it more pedestrian-friendly.

The festival draws over 200,000 attendees each year, making it one of the city's largest events.

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Seattle investors have made a significant $16M investment in Tucson, buying three rental multifamily complexes and vacant land zoned for future development.

In other business news, a local group that includes Steve Kerr, the veteran hotel operator, has acquired the historic Arizona Inn, a 95-year-old Tucson resort. They're not calling themselves owners, but rather "custodians of something sacred."

PNC is expanding its Arizona footprint with the acquisition of FirstBank, which will give them over 70 branches in the state.

PNC is expanding its Arizona footprint by acquiring FirstBank.

The acquisition will give PNC more than 70 branches in Arizona.

This move will significantly increase PNC's presence in the state.

PNC is likely to benefit from FirstBank's existing customer base.

FirstBank's customers can expect a seamless transition to PNC services.

Mitsubishi Corp. has invested $600 million in the Copper World mining project near Tucson.

The investment will go towards construction of the complex of six open pits, which is estimated to cost at least $1.7 billion.

Mitsubishi's stake in Copper World is 30%.

Seattle investors have made a significant move in the real estate market by acquiring three multifamily complexes in Tucson. The total investment was a substantial $16 million.

The complexes were purchased from an undisclosed seller, but the impressive price tag is a testament to the growing demand for multifamily housing in the area.

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Tucson's early economy was driven by mining, with the city's first mine, the Patagonia Mine, opening in 1854. The mine brought in a significant influx of settlers and helped establish Tucson as a major commercial center.

The railroad arrived in Tucson in 1880, connecting the city to the rest of the country and boosting its economy. This marked a significant turning point in Tucson's growth.

Tucson's economy continued to grow with the arrival of the railroad, with the city becoming a major hub for cattle and sheep ranching. The city's ranching industry thrived until the early 20th century.

The city's downtown area was once a thriving commercial center, but it declined in the mid-20th century. Many of the old buildings were demolished, and the area was left largely vacant.

In recent years, Tucson's downtown area has undergone significant revitalization efforts, with many old buildings being restored and repurposed. The city has also invested in public art and other amenities to make the area more attractive to visitors and residents alike.

Food City, the sole grocery store in South Tucson, closed its doors after nearly 25 years in operation.

The store's closure was a result of failed efforts to keep it open.

The Little One, a downtown Tucson restaurant, is closing its doors after 40 years of serving the community.

It will officially close on September 19.

Summit Hut, a 55-year-old outdoor gear store, is also closing due to rising costs, competition, and a shift towards online shopping.

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The Summit Hut, a beloved outdoor gear store in Tucson, is closing its doors after 55 years of serving the local hiking and camping community.

The store's owner cited rising costs, competition with big box stores, and a shift toward online shopping as the reasons for the closure.

Summit Hut was a staple for outdoor enthusiasts, offering expert advice and top-notch gear to help people explore Arizona's beautiful wilderness.

The store's closure is a significant loss for the community, but it's not the only local business to shut down recently.

The Little One restaurant, a Tucson institution, is closing after 40 years of serving up delicious meals to the downtown community.

Summit Hut's closure is a reminder of the challenges facing small businesses in the face of changing consumer habits and economic pressures.

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The last grocery store in South Tucson is closing its doors. Food City, the sole grocery store in the square-mile city on Tucson's south side, will shut down on Friday.

It's been nearly 25 years since Food City opened its doors.

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