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In Other Economic Development News



$1B development could revive midtown Phoenix, Steele Indian School Park549$1B development could revive midtown Phoenix, Steele Indian School Park<div class="ExternalClass4EFA6E0F0D72464B8A032AD387F8810A"><figure> <img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20190731-Pivotal-Group-Central-Park.jpg" alt="Rendering of six-building high-rise in Midtown Phoenix" /> <div style="text-align:center;"><figcaption><em>Phoenix-based Pivotal Group plans to develop the $1 billion Central Park highrise cluster at the northwest corner of Indian School Road and Central Avenue in Midtown Phoenix.</em><br>Image: Pivotal Group</figcaption></div> </figure> <div style="text-align:center;"><em>By Jessica Boehm for The Arizona Republic</em><br></div><p><span style="font-size:15px;">Six high-rise towers may soon replace a long-vacant plot of land at the northeast corner of Indian School Road and Central Avenue in Phoenix — a project that supporters call a first of its kind in Arizona. </span></p><p><span style="font-size:15px;">The planned development, dubbed "The Central Park," calls for more than 2 million square feet of development on the 15-acre lot that borders Steele Indian School Park. It will feature apartments, condominiums, office space, a retirement community and 170,000 square feet of retail.</span></p><p><span style="font-size:15px;">A Phoenix-based developer, Pivotal Group, purchased the land a few years ago and plans to build public walking pathways surrounding the buildings to connect the community to Steele Indian School Park, which is currently hidden from the intersection.</span></p>​<br></div>7/31/2019 4:00:00 PM
CNH Industrial's Iveco unveils first electric truck in partnership with Nikola750CNH Industrial's Iveco unveils first electric truck in partnership with Nikola<div class="ExternalClass1DEDA18055B644B2A2146C753D7E20D9"><figure> <img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20191122-Nikola-Motors.jpg" alt="Photo of a Nikola electric-powered truck on the San Francisco Golden Gate Bridge" /> <center><figcaption><em> Nikola Motor Company, headquartered in Phoenix, claims it has made a game-changing improvement to electric-powered vehicle batteries.</em><br>Image: Nikola Motor Company</figcaption></center> </figure> <center><em>By Giulio Piovaccari for Reuters</em><br></center><p><span style="font-size:15px;"> CNH Industrial’s truck unit Iveco on Tuesday unveiled its first electric vehicle, the Nikola Tre, built in partnership with U.S. startup Nikola Motor Co.</span></p><p><span style="font-size:15px;">The heavy truck will be built for the European market under a deal announced by the two groups in September and is expected to give a boost to Iveco, which as the smallest of Europe’s traditional truck makers competes with the might of Volkswagen (VOWG_p.DE), Daimler and Volvo Group.</span></p><p><span style="font-size:15px;">“Just three months after we signed our partnership we have been able to deliver this prototype, just imagine what we’ll do in the next three years,” Nikola founder and Chief Executive Trevor Milton said late on Monday at a dinner in Turin, where Iveco is based.</span></p><p><span style="font-size:15px;">He said on Tuesday that orders for the Nikola Tre were already exceeding current production capacity.</span></p><p><span style="font-size:15px;">“We’ll be sold out for many years,” he said at the official presentation of the truck.</span></p>​<br></div>12/2/2019 7:00:00 AM
Phoenix hospital again tops US News & World report ranking546Phoenix hospital again tops US News & World report ranking<div class="ExternalClass9F6CE384FA0544AA9B1373F4539F598E"><figure> <img src="/econdevsite/MediaAssets/BIO19-20180905-Mayo-Expansion.jpg" alt="Rendering, Mayo Clinic expansion" /> <div style="text-align:center;"> <figcaption><em>Artist rendering of the $648M campus expansion at Mayo Clinic, Phoenix.</em><br><span style="font-size:11px;">Image: Mayo Clinic​​</span></figcaption></div> </figure> <div style="text-align:center;"> <em>By Angela Gonzales for Phoenix Business Journal</em><br></div><p> <span style="font-size:15px;">Once again, Mayo Clinic Hospital in Phoenix has ranked No. 1 in Arizona and No. 18 nationally by U.S. News & World Report.</span></p><p> <span style="font-size:15px;">This marks the third time that Mayo Clinic has made the Best Hospitals Honor Roll, which recognizes the top 20 hospitals in the nation.</span></p><p> <span style="font-size:15px;">Mayo Clinic in Rochester, Minnesota, ranked No. 1 nationally. The Best Hospitals Honor Roll includes the 20 hospitals that deliver exceptional treatment across multiple areas of care.</span>​​</p><div class="ms-rtestate-read ms-rte-embedcode ms-rte-embedil ms-rtestate-notify s4-wpActive" unselectable="on"> <iframe width="540" height="303" src="/econdevsite/_layouts/15/videoembedplayer.aspx?site=264e72502d9e4b64add48c94fea7d33e&web=2c330a8fcf4e43b495b324701773548f&folder=3960704743084da2a2c55f3072fb46db&img=https%3a//" data-title="Mayo-Clinic-Panorama-Video-View" data-duration="11"></iframe> </div></div>7/30/2019 7:00:00 AM
Phoenix among US cities adding the most million-dollar businesses624Phoenix among US cities adding the most million-dollar businesses<div class="ExternalClass01612135EEE14B37A3FEA2A62232A2DC"><figure> <img src="/econdevsite/MediaAssets/Other/UPDATE-20190916-million-dollar-biz-slideshow.jpg" alt="Graphic image saying 'Million-Dollar Businesses'" /> <div style="text-align:center;"><figcaption>Image: Dallas Business Journal</figcaption></div> </figure> <div style="text-align:center;"><em>By Phoenix Business Journal Staff</em><br></div><p><span style="font-size:15px;">Phoenix is seeing its share of million-dollar companies grow, according to a recent report from LendingTree.</span></p><p><span style="font-size:15px;">From 2014 to 2016, the Valley saw its percentage of companies with revenue of at least $1 million climb 6.2%. That represents the addition of 1,211 businesses with revenue in seven figures, according to the LendingTree analysis.</span></p><p><span style="font-size:15px;">Austin took the No. 1 spot, adding million-dollar businesses at a clip of 15.1 percent (1,857 businesses), followed by Jacksonville, Florida (963 businesses) and Riverside, California (2,359 businesses), which were tied at 14.8%.</span></p><p><span style="font-size:15px;">LendingTree's analysis only considered businesses with employees, using data from the U.S. Census Bureau’s American Survey of Entrepreneurs.</span>​</p></div>9/16/2019 5:00:00 PM
Lucid Motors begins hiring, lays groundwork to make luxury electric sedans in Casa Grande753Lucid Motors begins hiring, lays groundwork to make luxury electric sedans in Casa Grande<div class="ExternalClass1DAF455D136649E2AB3882677D4C1A16"><div style="text-align:center;"><figure> <img src="/econdevsite/MediaAssets/Buildings/UPDATE-20191205-lucid-casa-grande-AERIAL.jpg" alt="Rendering, Lucid Motors Casa Grande, Arizona, manufactuing plant" /> <figcaption><em>Aerial view of the proposed Lucid Motors manufacturing and assembly facility in Casa Grande, part of the Phoenix metro Arizona-Sonora megaregion automotive supply chain.</em> <br>Image: Lucid Motors <br> <em>By Hayley Ringle for Phoenix Business Journal</em> </figcaption> </figure></div><p><span style="font-size:15px;">As Lucid Motors Inc. looks to begin manufacturing its first all-electric, luxury vehicle at its Casa Grande plant in December 2020, the Newark, California-based startup promises a high-tech, spacious and comfortable vehicle unlike any other.</span></p><p><span style="font-size:15px;">The all-electric Lucid Air sedan touts a 400-mile battery range, zooming from zero to 60 mph in under 2.5 seconds with standard features and options the company says “rival high-end benchmarks," as an obvious competitor to the high-end Model S made by rival Tesla Inc.</span></p><p><span style="font-size:15px;">Peter Hochholdinger, Lucid’s new vice president of manufacturing, has some experience with that brand. He was previously vice president of production for Tesla. He says Lucid's car will stand apart because it’s “clearly a luxury product.” He joined the company in July with nearly 30 years of automotive manufacturing experience.</span></p><br></div>12/4/2019 7:00:00 AM
Farmers doubles Phoenix regional campus, adding 1,000 financial service jobs654Farmers doubles Phoenix regional campus, adding 1,000 financial service jobs<div class="ExternalClass38420470B9144D41B3BDF5FFC815B636"><figure> <img src="/econdevsite/MediaAssets/Buildings/UPDATE-20191004-Farmers-Phoenix-Campus.jpg" alt="A drone-generated photo of Farmers campus" /> <figcaption><div style="text-align:center;"><em>Farmers has doubled the size of its Phoenix Wall Street West campus in the Interstate 17 North corridor. The new 150,000-square-foot building will house 1,000 new financial service jobs.</em> <br>Image: Farmers</div> <br> <div style="text-align:center;"><em>By Angela Gonzales for Phoenix Business Journal</em></div> </figcaption> </figure> <p><span style="font-size:15px;">Phoenix City Council on Wednesday unanimously approved a $250,000 economic development incentive for Farmers Insurance, which plans to hire another 900 employees for its north Phoenix regional office.</span></p><p><span style="font-size:15px;">When the Woodland Hills, California-based insurer selected Phoenix as its regional office in 2016, the company had a 150,000-square-foot building built to house 1,000 workers. Now, construction is almost finished for a connecting building of the same size to house another 900 new positions at 24000 N. Farmers Way, he told the Business Journal.</span></p><p><span style="font-size:15px;">Christine Mackay, director of Phoenix's Community and Economic Development, said Farmers Insurance became an employment anchor in what she calls Phoenix's Wall Street West with its first phase.</span></p><p><span style="font-size:15px;">"They said if Phoenix works out, they'd expand," she said. "Here we are just three years later and the company is doubling its Phoenix footprint and staff. We believe that confidence is a great statement about the quality of the Phoenix financial services and financial technology workforce."</span></p>​<br></div>10/4/2019 6:00:00 PM
Lyft opens first U.S. vehicle repair center in Phoenix to give drivers quick, affordable service722Lyft opens first U.S. vehicle repair center in Phoenix to give drivers quick, affordable service<div class="ExternalClassB5CF707B5DB0418EBC534178B7F74B22"> <figure> <img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20190809-CSO-Sky-Harbor-Rental-Car-Facility.jpg" alt="Sky Harbor Rental Car Facility" /> <center> <figcaption><em>Sky Harbor Rental Car Facility</em><br><span style="font-size:11px;">Image: Tim Roberts</span></figcaption></center> </figure> <center> <em>By Hayley Ringle for Phoenix Business Journal</em><br></center><center> <em><br></em></center><p> <span style="font-size:15px;">Lyft Inc. is opening its first U.S. driver center in Phoenix to provide fast, affordable car repairs and support services for drivers.</span></p><p> <span style="font-size:15px;">The San Francisco-based ride-hailing company has opened the 20,000-square-foot center with five car bays to offer maintenance, including oil changes, new brakes, filters and tire rotations, said Drena Kusari, Lyft’s regional director for the Southwest.</span></p><p> <span style="font-size:15px;">“The cost of operating a vehicle adds up,” Kusari told the Business Journal. “To have all services under one roof is critical. This is another way of giving value back to our drivers.”</span></p>​​<br></div>11/12/2019 3:00:00 PM
Welcome to Phoenix, Where There's Tons of Startup Talent, Less Red Tape, and Houses Your Employees Can Actually Afford666Welcome to Phoenix, Where There's Tons of Startup Talent, Less Red Tape, and Houses Your Employees Can Actually Afford<div class="ExternalClassF6016D8340F44AA9A66499F798B8D76F"><figure> <img src="/econdevsite/MediaAssets/DOWN-20180222-Downtown-from-Northwest-749.jpg" alt="aerial photo of Phoenix" /> <figcaption><div style="text-align:center;">Image: City of Phoenix</div> <br> <div style="text-align:center;"><em>By Emily Canal for Inc.</em></div> </figcaption> </figure> <p><span style="font-size:15px;">There's more than just desert sand and scorching heat in Arizona's state capital. Phoenix is finally getting its due as a haven for entrepreneurs.</span></p><p><span style="font-size:15px;">Not only did the Valley of the Sun land at No. 11 on Inc.'s list of Surge Cities, an index that measures the U.S. metro areas with the most economic momentum, it's also the location of Inc.'s annual conference honoring the businesses that landed on the Inc. 5000, a ranking of the fastest-growing private companies in the U.S. Starting October 10, through the 12th, attendees will hear from entrepreneurs including LearnVest founder Alexa von Tobel, Calm co-founder Michael Acton Smith, and Away co-founder Jen Rubio.</span></p><p><span style="font-size:15px;">Here are five reasons why Phoenix is an increasingly hospitable environment for entrepreneurs.</span>​</p></div>10/11/2019 2:00:00 PM
New Initiative Seeks to Improve Treatment Options for Veterans670New Initiative Seeks to Improve Treatment Options for Veterans<div class="ExternalClassBD82E93D33604D39BFFB1AA0A0D8652D"><figure> <img src="/econdevsite/MediaAssets/Other/UPDATE-20191007-UA-veterans-health-slide.jpg" alt="Graphic, veteran in uniform shaking hands with doctor wearing white coat" /> <figcaption><div style="text-align:center;">Image: University of Arizona College of Medicine — Phoenix</div> <br> <div style="text-align:center;"><em>By Teresa Joseph for University of Arizona College of Medicine – Phoenix</em></div> </figcaption> </figure> <h3>A collaborative program between the University of Arizona College of Medicine – Phoenix and the Phoenix Veterans Affairs Health Care System could prevent adverse drug events, save lives and decrease health care costs for veterans.</h3><p><span style="font-size:15px;">The University of Arizona College of Medicine – Phoenix is partnering with the Phoenix Veterans Affairs Health Care System to provide personalized drug treatment for veterans.</span></p><p><span style="font-size:15px;">The program, Pharmacogenomics Action for Cancer Survivorship, is a collaboration between the U.S. Department of Veterans Affairs and Sanford Health, a Midwest-based health care system, with the goal to improve patient treatment by using medications tailored to their genes. It is funded by a $25 million gift from philanthropist Denny Sanford and a matching fundraising effort from Sanford Health.</span></p><p><span style="font-size:15px;">Although the program initially focused on cancer survivors, veterans without cancer also can benefit from PHASeR. The pharmacogenomics tests will help physicians make clinical decisions for a variety of pharmaceutical treatments, including mental health and cardiovascular diseases, as well as pain management.</span></p><p><span style="font-size:15px;">Dr. Will Heise, assistant professor in the Division of Clinical Data Analytics and Decision Support at the UA College of Medicine – Phoenix, said PHASeR seeks to prevent adverse reactions to drugs, save lives and decrease health care costs over time.</span></p><p><span style="font-size:15px;">“The Veteran’s Administration is heavily invested in pharmacogenomics research and precision medicine,” Heise said. “Arizona veterans will benefit from our early entry into these kinds of programs. We serve a huge and growing number of veterans through the Arizona VA systems and have a talented precision medicine and biomedical informatics team at the UA College of Medicine – Phoenix.”</span></p><p><span style="font-size:15px;">Pharmacogenomics is the study of how genes affect a patient’s response to drugs. By studying an individual’s genes through a simple blood draw, physicians can determine which medications may be more effective for patients and which ones are less likely to produce adverse reactions. The patient’s current medications may be adjusted based on the tests. The results will be applicable throughout the patient’s lifetime and may help a physician select medications in the future, increasing their effectiveness and decreasing the risk of side effects.</span></p><p><span style="font-size:15px;">“This partnership signals the commitment of the Phoenix VA and UA College of Medicine – Phoenix to be a powerhouse of pharmacogenomics outcomes research,” Heise said. “This is truly cutting-edge medicine just starting to demonstrate its full potential.”</span></p><p><span style="font-size:15px;">Although cancer survivors are of specific interest, a cancer diagnosis is not required to participate in the program, which will expand to as many as 250,000 veterans at more than 100 sites nationally by 2022. It launched in March in Durham, N.C.</span></p><p><span style="font-size:15px;">Dr. Deepak Voora, director of the VA PHASeR Program, said the pilot is an opportunity to give back to veterans.</span></p><p><span style="font-size:15px;">“This enhances the VA’s ability to meet new and emerging needs for veterans, their families and caregivers,” said Voora, who is also an associate professor in the Department of Medicine and the Center for Applied Genomics and Precision Medicine at Duke University School of Medicine.</span></p><p><span style="font-size:15px;">Veterans can obtain access to the pharmacogenomics testing through a blood draw at their local VA facility. Sanford Health processes the tests at its South Dakota facility, and the patient and his or her physician will receive the results to help decide whether to change treatment.</span>​</p></div>9/30/2019 7:00:00 AM
See inside Nikola's new $75M Phoenix headquarters455See inside Nikola's new $75M Phoenix headquarters<div class="ExternalClass587C69BF8E04401DBC4BC83011942385"><figure> <img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20190701-Nikola-Headquarters.jpg" alt="Front view of the 3-story Nikola Motor Co. world headquarters in Phoenix, Arizona" /> <div style="text-align:center;"><figcaption><em>Main entrance to the Nikola Motor Co.'s new world headquarters, 4141 E. Broadway Rd., Phoenix, Arizona.</em> Image: Hayley Ringle, Phoenix Business Journal</figcaption></div> </figure> <div style="text-align:center;"><em>By Hayley Ringle for Phoenix Business Journal</em></div><p><span style="font-size:15px;">Nikola Motor Co. is putting the finishing touches on its three-story, 200,000-square-foot Phoenix headquarters and research and development facility.</span></p><p><span style="font-size:15px;">The $75 million building at 4141 E. Broadway Road is a place for the hydrogen-electric truck company to show off its vehicles, design and test new features and designs, and manufacture limited production runs.</span></p><p><span style="font-size:15px;">Nikola unveiled five zero-emission vehicles, including its semi-truck and off-road vehicle, at its Nikola World event in April at WestWorld in Scottsdale.</span></p><p><span style="font-size:15px;">Company officials said it will do prototype and limited production work on its trucks and other zero-emission vehicles at its headquarters until its $1 billion, 2,000-job manufacturing plant is finished in Coolidge, southeast of Phoenix in Pinal County.</span></p><p><span style="font-size:15px;">Nikola is targeting 2020 to break ground on the Coolidge plant, with first production runs to begin near the end of 2022, said Vince Caramella, Nikola's head of global marketing.</span>​</p></div>7/1/2019 4:00:00 PM



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