Arizona Economic Development
April 26, 2016 |
President and CEO, Arizona Commerce Authority
The outlook for Arizona’s economy is looking brighter everyday as our state continues to add new jobs, attract new companies and promote our pro-business message around the world.
According to data released by the Arizona Department of Administration, Arizona has fully recovered all jobs lost during the Great Recession and employment in Arizona is at its highest level since October 2007. Additionally, Arizona’s unemployment rate has dropped to 5.5 percent, down from 6.3 percent a year ago. Over the past 12 months, private-sector employers added jobs at a 3.7 percent rate, well above the national average for private-sector employers of 2.1 percent over the past 12 months.
As the state’s leading economic development organization, the Arizona Commerce Authority (ACA) contributes to this economic success through our mission to attract, grow and create Arizona businesses. The ACA is on track for another record-breaking year, exceeding goals for job creation, capital investment and average wages. During the first three quarters of our Fiscal Year 2016 (July 1, 2015 – March 31, 2016) the ACA closed 73 projects representing 12,998 projected jobs with average wages of approximately $51,053 and $570.6 million in capital investment. Several notable highlights include:
- Carlisle, a Fortune 1000 company, selected North Phoenix to relocate its corporate headquarters and a major division headquarters, creating 130 projected new jobs and making a capital investment of $3 million at its new facilities.
- Farmers Insurance, one of the largest multiline insurer groups in the country, plans to significantly expand its operations in Phoenix, creating 1,200 projected new jobs and making a capital investment of $41.2 million.
- International Towers, a manufacturer of broadcast and cellular towers and antennas, is expanding their operations with a new facility in Marana, creating 130 projected new jobs and making a capital investment of $1.5 million.
- Orbital ATK, a space vehicle and systems company with a major facility in Gilbert and Mesa, will be further expanding its aerospace engineering operations, creating 155 projected new jobs and making a capital investment of $20 million.
Santander USA, a subsidiary of Spain-based Banco Santander, has selected Phoenix to accommodate its West Coast clients, creating 976 projected new jobs and making a capital investment of $14 million.
- Truly Nolen, a family-owned pest control company headquartered in Tucson, is expanding its operations with the creation of a new training facility and office space in Tucson, creating 72 projected new jobs and making a capital investment of $10.8 million.
- ZipRecruiter, the market-leading hiring platform for small and medium sized businesses, has selected Tempe for its first expansion outside of California, establishing a new facility that will create 238 projected new jobs and making a capital investment of $11.4 million.
As evidenced by these projects, Arizona continues to be ideal for companies looking for a location with a business environment, workforce and quality of life that will support their growth and success.
Sandra Watson brings more than 20 years of economic development leadership experience to Arizona. For more information about how the ACA can partner to help businesses expand and grow, visit azcommerce.com.
Commercial 360° Seminar
FRIDAY, MAY 27, 2016 – 9:00 AM TO 12:30 PM
This seminar is for anyone wanting to learn about growth and development in Arizona.
Learn from industry leaders regarding Arizona and Salt River Pima economic development, land availability, trust land funds, energy and water plans as well as a current market update – hear how all these factors effect the state’s growth and the real estate industry. Tempe Mayor Mark Mitchell will also provide some detail on how projects in Tempe are creating a positive influence for the state of Arizona.
Credit: 3 hrs. Legal Issues