Category Archives: Phoenix

Phoenix Poised for Steady Economic Growth

Arizona’s favorable business environment coupled with an affordable real estate market continues to attract businesses from around the globe. Caterpillar Inc. recently announced its plan to establish a new surface mining and technology office in Tucson. The project is expected … Continue reading

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Phoenix Real Estate Still Buoyant

The Phoenix economy is largely dependent on manufacturing (mainly aerospace, semiconductors and electronics), tourism and rapidly growing financial/tech industries. Increasing travel demand with ultra-low fuel prices and rising global security threats will fuel the production of civil and defense aircraft … Continue reading

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The Phoenix Economy Remains Steady

After losing more than 3,000 nonfarm payroll jobs in 2015Q2, the Phoenix economy added about 13,800 such jobs in the third quarter of 2015. In the meantime, the metropolitan area lost hundreds of construction jobs. The services providing sector added … Continue reading

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Phoenix Economy Growing Moderately

Job growth in the Phoenix metropolitan area has outperformed the state of Arizona since the second half of 2010. The Phoenix economy contributed more than 85 percent of job growth for Arizona from mid-2014 to mid-2015. Most of the job … Continue reading

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Phoenix Targets Expansion

The Phoenix area’s labor market has yet to see the meteoric gains in employment that it experienced prior to the Great Recession. Total Nonfarm employment is still about a year away from the pre-bust high given current growth. High-paying jobs, … Continue reading

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Phoenix Economy Shows Gradual, Sustainable Improvement

The Phoenix metro area ended 2014 with a 2.7 percent increase in total nonfarm employment. Growth occurred in most employment sectors, with particularly pronounced December-over-December changes in professional and business services and education and health services. These two industries alone … Continue reading

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The Phoenix Economy Awaits Housing Rebound

Phoenix employment growth is on the right track, gaining ground in the services industries over the past few years. However, area employment has still not recovered to pre-recession levels. The primary culprit has been construction employment. The decline in construction … Continue reading

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Phoenix Economy Shows Signs of Moderate Growth in 2014

Phoenix year-over-year employment growth is slowing down. Area employment grew 2.8 percent in 2013, but is expected to increase by only 1.8 percent this year. The outlook for Phoenix area employment remains positive heading into 2015 as the effects of … Continue reading

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Phoenix Ongoing Economic Development

Whether it’s the $136 million University of Arizona medical research building in downtown Phoenix or the 10-story office building in Tempe, economic development continues to be an integral part of the long-term strategy for the Phoenix Metropolitan Statistical Area (MSA). … Continue reading

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Phoenix Economy Ends 2013 with a Positive Outlook

After facing a number of headwinds in 2013, Phoenix’s moderate economic expansion will continue into 2014. Increased uncertainty and federal budget sequestration were a drag on local defense-related businesses throughout 2013. Honeywell International, whose aerospace division is headquartered in Phoenix, … Continue reading

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