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Among top metro areas, Phoenix rises to the top for housing affordability and Economic Development12/15/2017 7:00:00 AM top metro areas, Phoenix rises to the top for housing affordability<div class="ExternalClassE88DC85A485B4CDAB88ABC8AEB646B8D"><html>By Eric Jay Toll<br>PhxCEDNews, Dec. 15, 2017<br><br>When it comes to buying a median home, the Phoenix metro has the third-lowest median house payment – including taxes and insurance – among the top 15 metro areas. Phoenix is the 12th ranked metro area.<br><br>The metro ranks as one of a few large metros with no home-buying income gap. When it comes to buying the median-priced home at around $249,000, mortgage resource website says the median household income leaves money in the buyer’s pocket. The median Phoenix household income is nearly $9,700 more than the income required to purchase the median metro area home.<br><img style="margin:5px;width:498px;" src="/econdevsite/MediaAssets/Newsroom_CED_017.jpg" /><br><br>It translates to a median PITI payment (principal, interest, taxes, insurance) of $1,130 in the Phoenix metro. Only Atlanta and Detroit are lower among the top 15 metro areas.<br>By comparison, median monthly home payments are $1,574 in Austin, Texas; $1,854 in Denver, Colorado; $1,183 in Las Vegas, Nevada; and $1,352 in Salt Lake City. Those four markets are often compared with Phoenix. Of the group, only Phoenix is a Top 15 metro area based on population.<br><br>Silicon Valley has the highest median home payment in the U.S., $5,044 per month. San Francisco is second at $3,998. Los Angeles is $2,685 and San Diego is $2,709 per month.<br>In the Phoenix metro, the 2016 median income was $58,075, higher than the U.S. national median of $57,015. To acquire the median $249,000 Valley home, <a href="" target="_blank"></a> says a household income of $48,426 is needed, leaving a surplus of over $9,000.<br><br>The worst home buying income shortfall in the U.S. is in the San Francisco Bay Area metro, where the nearly $97,000 median income is around $75,000 short of buying a median home. Other markets against which Phoenix often competes for business locates have gaps ranging from almost $15,000 in Seattle, the fifth least affordable metro, to just under $50,000 in Los Angeles, which is the second least affordable metro after the Bay Area.<br><br>Denver, Colorado, the 19th largest metro requires a median household income of nearly $80,000 for its median-priced home. Austin, Texas, the 31st largest metro, requires an income approaching $70,000 to buy that metro area’s median-priced home. <br><img style="margin:5px;width:498px;" src="/econdevsite/MediaAssets/Newsroom_CED_018.jpg" /><br><br>See all U.S. metros: <a style="font-size:13.3333px;" href="" target="_blank">The salary you must earn to buy a home in the 50 largest metros (</a><span style="font-size:13.3333px;"> <br></span><em>Main photo credit:</em> WikiMedia Commons;<em> Artistic effects:</em> Phoenix CED.<br>Tables and charts: Phoenix CED from <a href="" target="_blank">HSH data</a><br></html></div>
Report: Tech hiring in 2018 expected to start strong and Economic Development12/14/2017 7:00:00 AM (9).JPGReport: Tech hiring in 2018 expected to start strong<div class="ExternalClass84F7309E0B364D5CAF8E8AAF9A23CD21"><html> <p> <em>​Phoenix Business Journal (Hayley Ringle): </em> </p>Technology hiring in Phoenix is expected to start strong in 2018, with cybersecurity and technology innovation being the top jobs.<br><br>According to the Robert Half Technology IT Hiring Forecast and Local Trend Report, Phoenix ranks 11th among U.S. cities where tech hiring is expected to grow the most in the first half of the year.<br><br>San Diego, Atlanta and New York top the list, respectively, followed by Austin, Charlotte, Minneapolis, Philadelphia, Des Moines, Miami and Cleveland. After Phoenix, Salt Lake City rounded out the top 12 cities.<br><br><em>Read the full story:</em> <a href="" target="_blank">Phoenix area tech hiring in 2018</a><br><em>Graphic credit:</em> City of Phoenix CED<br><br><p><br></p></html></div>
Ampsy raises $3 million, moves HQ to Phoenix and Economic Development12/14/2017 7:00:00 AM raises $3 million, moves HQ to Phoenix<div class="ExternalClass0091F58A4C64449E9F9E4B6BC1145220"><html> <p> <em style="font-size:12px;">Image:</em> <span style="font-size:12px;"> The Armory is the city of Phoenix coworking space for Veteran entrepreneurs and veteran-founded business startups. It's located in Arizona Center, 455 N 3rd St, Phoenix. </span> <em style="font-size:12px;">(Photo credit: JPMorganChase)</em> </p> <p> <span style="color:windowtext;font-size:10pt;background-color:window;">​Phoenix Business Journal (Hayley Ringle): </span> </p>Local tech startup Ampsy, whose clients have included Red Bull, "Jimmy Kimmel Live" and Britney Spears, is closing on a $3 million seed round, moved its headquarters to Phoenix and is doubling its team.<br><br>Ampsy provides a hyper-local audience intelligence and engagement platform. Using its social geofencing technology and machine learning algorithms, it can help clients identify, segment and activate their most socially influential customers at events or business locations, leading to increased brand loyalty, engagement and revenue, said Jeremy Gocke, founder and CEO.<br><br>“We can search a social conversation at specific locations without the need for beacon hardware, hashtags or handles,” Gocke said. “We can isolate based on GPS coordinates. We do a deep dive and deliver back to clients the data. Our clients include pro sports team, hotels, venues, music and entertainment.”<br><br><em>Read the full story:</em> <a href="" target="_blank">Ampsy moves into The Armory</a><br><em>Photo credit:</em> JPMorgan Chase<br><p><em></em><br></p></html></div>
$1B Mega data center campus slated for Phoenix land and Economic Development12/14/2017 7:00:00 AM$1B Mega data center campus slated for Phoenix land <div class="ExternalClass15ADBF89E47C41C4B9D6B5284D7B3BFA"><html> <p> <em>​Phoenix Business Journal (Mike Sunnucks): </em> </p>The Phoenix City Council approved plans yesterday for a large data center campus on land at 40th Street and McDowell Road.<br><br>Development plans could bring a 2 million-square-foot, $1 billion data center campus.<br>The land has been vacant for years, totals almost 98 acres and was previously looked at as a site for stadiums and arenas. It was owned by the state of Arizona and at one point served as a farm used by the Arizona State Hopsital, the state’s mental hospital, according to Phoenix City Councilwoman Kate Gallego.<br><br>Gallego spearheaded the rezoning push for the land which is off the Loop 202 freeway.<br><br><em>PhxCEDNews Note:</em> The new facility will be built near 40th Street and McDowell Road near Phoenix Sky Harbor International Airport. A number of data centers are located in this area because it is possible to obtain power from both SRP and APS. QTS Technology operates a data center in Downtown Phoenix, 220 E. Van Buren St.<br><em>Read the full story: </em><a target="_blank" href="">QTS Data Centers announces new airport area data center</a><br><em>Photo credit:</em> QTS Data Centers<br><p><em></em><br></p></html></div>



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