Ribbon cutting ceremony

Prescott has a new Israeli-owned tech company in town.

CP Technologies held a grand opening ceremony for its North American headquarters and manufacturing facility on Wednesday, June 9. The company designs and makes standard and custom rugged computer hardware.

“We are proud to be a part of the outstanding technology and business community here in Arizona and are grateful for all the support we’ve received,” said Mike McCormack, CP Technologies president and CEO.

Construction started on the 50,000 square-foot facility at 2620 Deep Well Ranch Road last June and the company plans to hire 200 workers over the next three years.

The company had called Southern California home for more than 20 years. In 2018, CP Technologies was acquired by Aeronautics Ltd., an Israeli company owned by RAFAEL Advanced Defense Systems. Its focus on aviation is one reason that Prescott is an attractive site — Arizona is home to Yavapai College and an Embry-Riddle Aeronautical University campus.

Prescott Mayor Greg Mengarelli, Gov. Doug Ducey, Hillel Newman, Consul General of Israel to the Pacific Southwest of the United States and Leib Bolel, president and CEO of the Arizona Israel Technology Alliance, were among those who attended the grand opening ceremony.

“CP Technologies represents another exciting high-tech company that’s chosen to relocate its headquarters from California to Arizona,” Ducey said. “This move puts CP Technologies front and center with Arizona’s growing technology and manufacturing sectors.”

Mengarelli said Prescott’s cost of living and access to talent will serve the company well.

There is a lot going on between Israel and Arizona, Newman told Jewish News. He hinted that more Israeli companies will be on their way to Arizona.

“I can’t give names of companies — I can just say there’s a lot of interest,” he said. Arizona is “on the map” for Israeli companies looking to relocate because, among other things, “Arizona is trying to be the startup state and Israel is the startup nation.”

Arizona opened its first trade office in Israel last May and there are several organizations already here, like the Arizona Israel Technology Alliance, dedicated to increasing and supporting trade.

“Economic diplomacy is a very important element in general,” Newman said.

Bolel said "a number of the companies" he is speaking with now have been referred by other Israeli-owned companies in Arizona.

"We've worked very hard within the Israeli ecosystem -- accelerators, incubators, academic institutions, government, venture capital funds -- in being able to demonstrate that we have an incredible state for a lot of things," he said. Bolel added the large majority of Israeli companies that have relocated have "been very happy" and have grown "significantly." JN