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The Arizona Department of Financial Institutions issued one money transmitter license in Phoenix during January, according to the State of Arizona. More than 99 percent of Arizona s businesses are considered small with more than 40 percent of Arizona employees working for a small business, according to the U.S. Small Business Administration. A study by Civic Economics found that when $100 is spent at a locally-owned business, that business puts $47 back into the local economy while the total is just $13 for non-local businesses. Licenses issued by Arizona Department of Financial Institutions during January License Holder

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