One Year Later, Inflation Reduction Act is Creating Thousands of Jobs and Investing in Arizona

PHOENIX — One year ago, the Inflation Reduction Act was signed into law—securing major investments in Arizona’s economy, infrastructure, and clean energy projects. 

Many companies have announced new investments in Arizona over the last year that will bring at least 12,720 good, high-paying jobs to Arizona as a result of funding from the Inflation Reduction Act, including: 

  • EVelution Energy is building the first U.S. solar-powered cobalt processing facility in Yuma County, Arizona, creating an estimated 360 new jobs

  • Ecobat is building its first North American battery recycling facility in the Phoenix metro and bringing 60 new jobs to the area

  • Sion Power Corp. plans to double the size of its local operations and create 150 new jobs

  • American Battery Factory is planning to build a $1.2 billion battery manufacturing plant in southern Arizona—creating 1,000 new jobs

  • Heritage Battery Recycling has announced plans to build a lithium-ion battery recycling facility in Eloy, Ariz., bringing approximately 110 jobs to the area

The Inflation Reduction Act also:

  • Lifts the ban preventing Medicare to negotiate the cost of widely used prescription drugs

  • Extends premium tax credits to lower costs for those purchasing insurance on the ACA Marketplace

  • Ensures that corporations and the wealthiest Americans pay their fair share in taxes

  • Invests in clean energy to reduce carbon emissions by nearly 40 percent by the end of the decade

Despite all the jobs created by and the health care cost savings included in the bill, Arizona Republicans—including Rep. David Schweikert—voted against it.

Honest Arizona executive director Andrea Moreno released the following statement commemorating the one-year anniversary of the passage of the Inflation Reduction Act:

“The Inflation Reduction Act puts Arizonans and their economic needs first: companies are bringing new, high-paying jobs to our state, inflation is lower than it has been in years, and Arizona families are seeing savings from lower health care premiums and prescription drug costs. The state's energy grid, which is suffering from record-high summer heat, is going to soon benefit from upgrades and investments that make utilities, homes, and businesses more climate-ready, while working to mitigate the long-term impacts of climate change. President Biden and the members of the Arizona congressional delegation who voted for it put Arizonans first, and we’re already seeing the benefits.”

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Advancing AZ