"This kind of complex is a catalyst that draws other commercial and industrial development," Don Reinhart, president of the Glendale Chamber of Commerce tells GlobeSt.com. "Glendale, especially in the eyes of the greater Phoenix population, is a player now. It will catapult us into the big time and that's a nice place to be right now."

The state's Tourism and Sports Authority has given Glendale the green light to go ahead as the site of the new sports complex. Today, the Glendale City Council is expected to give final approval on the plan.

The city recently capped a deal to build a 17,000-seat ice arena for the Phoenix Coyotes near the stadium site at Glendale Avenue and the Loop 101. That arena project includes plans for a mixed-use commercial project of up to three million sf.

On Wednesday, the Arizona Cardinals publicly pledged their commitment to the city with the announcement that the team is prepared to buy 180 acres near Loop 101 between Bethany Home Road and Maryland Avenue for $18.5 million on which to build the $350-million venue.

Reinhart says the decision to locate the Coyotes arena in the city generated a tremendous amount of interest by industrial and commercial developers. "This will just create an exponential effect," he assesses of the stadium. "It's really going to be a draw."

The site's close proximity to the Loop 101 also will benefit new industrial and commercial growth in that area. "The bottom line is that companies will be located closer to a transportation corridor," Reinhart says. "Companies that move there, especially if they have customers in Los Angeles, will be one hour closer than if they were located in other parts of the valley. In terms of moving goods and services, that's a big advantage.