ABBI headquarters would be located in downtown Phoenix, with research and associated work occurring on the campuses of ASU, UA and NAU as well as in other facilities in greater Phoenix, Tucson and Flagstaff.
        Seeing the opportunity, Phoenix officials have proposed increasing the city's investment from $10 million to $15 million in land and infrastructure to develop ABBI.
        "We have the opportunity to positively change the economic identity of our community," says Phoenix City councilman, Greg Stanton. "This will bring good jobs and improve wages for the people in our community."
        Arizona and the city of Phoenix have been havens for high-tech manufacturing and service industries. But with the recent economic slump in the high-tech sectors, state leaders have started to look at ways to diversify the state's economy and business appeal.
        "We here have been very dependent upon high-tech manufacturing and financial services," notes John Wyss, managing principal with The Staubach Company in Phoenix. "The combination of those hitting the basement at the same time has made many of us realize it is time for us to reposition the community."
        Wyss notes the high-tech shakeout is behind much of the current available sublease space in Phoenix. Vacancy rates in the city are currently at 16 percent and average rental rates are approximately $24 per sq. ft. with full service.
        "There have been some tremendous deals being made in the sublease market," notes Wyss. "For example, there have been some fully outfitted call centers -- what we refer to as plug-and-play -- that offer tenants everything including phones, furniture and switching equipment. All the tenants need to do is supply the bodies."
        While the aerospace, financial services, high-tech and software development sectors are among the five high-salaried industry sectors city officials hope to attract and retain, the biotech focus resonates especially well with the state's objectives.
        "This project builds on the expertise and resources of our universities, to accelerate the scientific research and technological developments that improve health care and lead to better quality of life," says Emmermann, adding that the process helps to build a stronger statewide identity, a better educated workforce, and the alliances critical to success in the New Economy.