The Innovation Hub Initiative was approved by Tempe City Council on March 1, 2018. It is an economic development initiative to enhance key employment corridors to promote new investment, job creation, and placemaking that attracts and retains a quality workforce. Eight hubs were identified and the Smith Industrial Hub was selected for the pilot project.
The Smith Industrial Hub is approximately 302 acres (1/2 square mile) with mostly light industrial and office uses. It is bounded by Rio Salado Parkway, Loop 101, University Drive and McClintock Drive. It was selected for the pilot area because of its unique innovation ecosystem near current and planned transit investments, adjacency to the ASU Novus Innovation Corridor and other amenities, and variety of uses already in place.
- Preserve current industrial land uses and businesses
- Encourage wider variety of uses and expansion of industrial square footage for future development
- Improve multi-modal transportation connections (streetcar, light rail, bus, bike and pedestrian amenities)
- Invest in amenities to support Smith Industrial Hub, including streetscape projects, streetcar expansion, public art and bike boulevards