There’s a stir in the valley. Over the past few years, Phoenix has seen a spike in growth, not just in population, but in business. As investors, we believe the Phoenix-metro is not what it used to be and this is a significant indicator…
“Arizona continues to foster a welcoming pro-business environment for new and existing companies. We focus on areas that are important to businesses—such as reducing regulatory burdens, creating a competitive tax environment and growing a talented workforce, particularly in high-demand industries. The excellent connectivity to major markets along with a low-cost operating environment makes Arizona a competitive place to grow a business.” – Georgia Lord, Mayor of Goodyear, AZ
A lot of the success seen behind companies moving into the valley seems to stem from a great system set up through the Greater Phoenix Economic Council (GPEC). The GPEC has been making an active effort to facilitate corporate moves by providing consultation, analysis, and overall direction when it comes to a companies workforce/space/unique needs. This has helped companies transition into the market with minimal friction.
Let’s look at some of the stats…
- Population growth through 2022 expected to be 3rd fastest in the U.S (employment growth projected to be just as strong)
- In 2018, the Phoenix-metro welcomed 42 businesses and 3 corporate headquarters—representing $1.18 billion in capital investment (creating 8.6k jobs)
- GPEC, has 22 member communities, and more than 150 private investors focused on attracting quality businesses and turning Phoenix into one of the best tech relocation cities.
- Maricopa Community Colleges is the largest community college system in the Country, (more than 200,000 students annually)
- Median age: 35.4 (one of the youngest in the nation)
(sources)
18 Companies Headed to Phoenix
- Cives Steel coming to El Mirage
- SeaCa Packaging coming into Greater Phoenix area & Surprise
- Airobotics coming to Scottsdale
- Andersen Corporation coming to Goodyear
- Bull Moose Pipe Company coming to Casa Grande
- Creighton University coming to midtown Phoenix
- Deloitte expanding in Gilbert
- EdgCore Internet expanding Mesa Data Center Campus
- Gorbel expanded into Greater Phoenix area and Goodyear
- King Koil coming to Avondale
- Nationwide Insurance announced a regional headquarters in Scottsdale
- Oscar Health Insurance coming to Tempe
- Prenexus Health coming to Gilbert
- Scheidt & Bachmann USA, Inc. coming to Phoenix
- Sendoso coming to Scottsdale
- Voya Financial, Inc. coming to Phoenix-metro
- Nikola Motor Company & Cambridge Senior Living are both coming to the valley
(sources)
“Leaders in other markets are now seeing that Arizona is a great place to do business and there is real innovation happening there. That hasn’t always been the case.” – Brad Vynalek, a board member at GPEC