Money

Poverty rate falls in Arizona, but still exceeds national average

WASHINGTON - An estimated 88,529 Arizonans rose out of the ranks of poverty last year, but that still left about 1 million - or one state resident in seven - living below the poverty level, according to new Census data that show the state's poverty level fell faster, but remained higher, than the nation in 2017.

Missing this Labor Day? Labor, as builders scramble to find workers

WASHINGTON - A report by the Associated General Contractors of America showed that 80 percent of construction firms nationwide reported having trouble filling skilled craft positions this year - 82 percent of firms in Arizona said they have had trouble.

Arizona business leader hopeful as U.S., Mexico agree on NAFTA update

WASHINGTON - Few details were released, but one Arizona business leader said the mere fact that the U.S. and Mexico unveiled a trade agreement Monday should "calm concerns" over the future of NAFTA after President Donald Trump and Mexican President Enrique Peña Nieto announced a tentative deal.

Tribal energy loan program starts, more than a decade after its OK

WASHINGTON - More than 10 years after it was first approved, a federal loan program for tribal energy development projects will finally accept its first applications next month under ther Department of Energy's $2 billion Tribal Energy Loan Guarantee Program.

After 11 years, legal, bureaucratic battles over Rosemont Mine continue

WASHINGTON - A proposal for a massive open-pit copper mine in the Santa Rita Mountains will be back in court this month, the latest twist in an 11-year battle over the Rosemont Mine that pits supporters who cite its economic benefits against opponents who it's "the absolute worst place" for a mine.

Arizona GDP grew 2.5 percent in first quarter, ahead of national rate

WASHINGTON - Arizona's gross domestic product grew by 2.5 percent in the first quarter of 2018, driven by increases in real estate and retail trade, according to a report from the Bureau of Economic Analysis, which said the national GDP grew 2.2 percent in the same period.

Court: Former Arizona broadcaster owes millions in taxes on sale

WASHINGTON - A federal appeals court ruled that the former owners of an Arizona broadcasting company owe $15 million in taxes on the 2001 sale of their business, saying part of the sale had "no legitimate economic purpose ... other than to avoid paying the taxes."