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Welcome to The Economy Update, CED's collection of original and aggregated news stories, podcasts and videos with relevant news about the Phoenix economy. News stories can be filtered by topic when clicking on one  of the blue buttons. 

Media contacts:

Eric Jay Toll
Communications Manager 
Mobile:  602-617-3797​

Submit news stories for publication with at least one high resolution, full size JPG or PNG image, at least 2000 pixels wide; MP3 podcasts; or High Definition, 1080i MP4 video to Communications Manager Eric Jay Toll



Phoenix Business Journal 2019 Small Business Award Winners Announced641Phoenix Business Journal 2019 Small Business Award Winners Announced<div class="ExternalClass087211902AF7400C8A2DFCCE277005D5"><figure> <img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20190920-Small-Business-Winners-PBJ-Muscular-Moving-Men.jpg" alt="Photo, four executives of Muscular Moving Men." /> <center><figcaption><em>Winner of the innovation category at the 2019 Phoenix Business Journal Small Business Awards was Muscular Moving Men. On hand to pick up the award on Sept. 19 were, from left, Justin Hodge, Jennifer Villalobos, Jim Stevens and Josh Jurhill.</em><br>Image: Jim Poulin, Phoenix Business Journal</figcaption></center> </figure> <center><em>By Staff, Phoenix Business Journal</em><br></center><p><span style="font-size:15px;">Small businesses ​are the lifeblood of Arizona's economy, with more than 550,000 such companies in the state that have less than 500 employees, according to the U.S. Small Business Administration.</span></p><p><span style="font-size:15px;">Most of those companies are backed by entrepreneurs who saw a different way to do things or a market that wasn't being tapped and embarked on a business journey.</span></p><p><span style="font-size:15px;">And that journey is not an easy one, filled for many with false starts, funding issues, pivots to broader markets and more.</span></p><p><span style="font-size:15px;">This week we honored those businesses that comprise the vast majority of companies in the state by handing out our inaugural 2019 Small Business Awards presented by Pacific Premier Bank, to recognize those firms in the Valley that are having a big impact on the local economy despite their diminutive size.</span>​</p>​<br></div>9/20/2019 9:00:00 PM
Here are 11 of the coolest offices in the Valley634Here are 11 of the coolest offices in the Valley<div class="ExternalClass28AD9D9AB11F4A73A9691F0DD33D9D52"><figure> <img src="/econdevsite/MediaAssets/Buildings/UPDATE-20190920-ABM-LEG-HQ.jpg" alt="Photo office interior of LGE" /> <center><figcaption><em>Interior of the LGE Design Build headquarters offices.</em><br>Image: LGE Design Build, AZ Big Media</figcaption></center> </figure> <center><em>By Steve Burks for AZ Big Media</em><br></center><p><span style="font-size:15px;">The coolest offices of today are the product of decades of trial and error in how the spaces are decorated and designed. We’ve seen trends come and go, but one constant remains: Functionality.</span></p><p><span style="font-size:15px;">Modern employees spend more time than ever at their workplace, and these offices reflect that trend. The spaces are more inviting, more comfortable and more flexible. Modern office spaces allow employees to get a workout and a shower in at the office, cook a meal and even have a little fun from time to time. All these functions are available without sacrificing production.</span></p><p><span style="font-size:15px;">We have gathered below examples of these modern, functional offices in Phoenix and tried to learn what makes them cool and a pleasure to work at.</span></p></div>9/20/2019 3:00:00 PM
After $15M capital raise, Bay Area tech startup to double size of Phoenix office637After $15M capital raise, Bay Area tech startup to double size of Phoenix office<div class="ExternalClassFC41F5BB99DC44CB9AF8D97F71FBBF8E"><figure> <img src="/econdevsite/MediaAssets/Buildings/OSCAR-20171217-The-Oscar-from-NW.jpg" alt="Photo of apartment building constructed from shipping containers." /> <center><figcaption><em>The Oscar, a shipping container-based apartment complex at the corner of Second and Portland streets, Downtown Phoenix, Arizona, has two Wanderjaunt units on the first floor (left in image). The remainder of the building is rented as apartments.</em><br>Image: City of Phoenix</figcaption></center> </figure> <center><em>By Hayley Ringle for Phoenix Business Journal</em><br></center><p><span style="font-size:15px;">Company plans to build on what it calls its 'HQ2'</span></p><p><span style="font-size:15px;">A San Francisco-based hospitality software startup that launched its product in the Valley has raised $15 million with plans to double the size of its Phoenix office.WanderJaunt Inc. provides a property management platform to handle operations, maintenance, interior design and listing of homeowners’ properties through AirBnB, VRBO, HomeAway, and the WanderJaunt website.</span></p><p><span style="font-size:15px;">The site is meant to be a seamless experience for both homeowners and travelers, with 24-hour support for travelers.</span></p>​<br></div>9/20/2019 3:00:00 PM
Luxury Multifamily Proposed for 54th St & Washington630Luxury Multifamily Proposed for 54th St & Washington<div class="ExternalClass1F14487C0FFE4097A72C73BC88C53340"><figure> <img src="/econdevsite/MediaAssets/Buildings/UPDATE-20190920-Banyan-Washington-54th-MFR-Gateway.jpg" alt="Rendering new apartment complex" /> <center><figcaption><em>Santa Monica-based Banyan Residential is proposing a luxury apartment complex in the Gateway employment corridor on the southeast corner of 54th and Washington streets, Phoenix, Arizona.</em><br>Image: Banyan Residential</figcaption></center> </figure> <center><em>By Tasha Anderson for AZBEX</em><br></center><p><span style="font-size:15px;">A unique, urban-style luxury multifamily residential development is being proposed just east of the SEC of Washington Street and the Loop 202 Freeway in Phoenix.</span></p><p><span style="font-size:15px;">Applicant and Land Use Attorney Earl, Curley & Lagarde, P.C., on behalf of Santa Monicabased Banyan Residential, submitted a request to the City of Phoenix to rezone approximately 4.79 acres of underutilized land at 5321 E. Washington Street to Mixed-Use in order to construct the 223-unit multifamily community, dubbed Banyan Washington.</span></p><p><span style="font-size:15px;">Banyan Washington will consist of three, five-story buildings that will house a mix of studio, one- two- and three-bedroom units. Interiors will feature “first-class finishes” including plank flooring, in-unit washer and dryers, walk-in showers and stainless steel appliances.</span>​</p></div>9/20/2019 1:00:00 PM
Suns owner: Talking Stick Resort Arena renovation plan on track632Suns owner: Talking Stick Resort Arena renovation plan on track<div class="ExternalClass5CED46BF46CD4EF796B02F5881D4D6E0"><figure> <img src="/econdevsite/MediaAssets/Buildings/UPDATE-20190920-Talking-Stick-Resort-Arena.jpg" alt="Photo, Talking Stick Resort Arena" /> <center><figcaption><em>Talking Stick Resort Arena from Jefferson Street, Downtown Phoenix, Arizona.</em><br>Image: Creative Commons</figcaption></center> </figure> <center><em>By Brandon Brown for Phoenix Business Journal</em><br></center><p><span style="font-size:15px;">The $230 million renovations to Talking Stick Resort Arena, the home of the NBA's Phoenix Suns, are set to be finished in almost exactly two years.</span></p><p><span style="font-size:15px;">Suns owner Robert Sarver confirmed this week that the team is about halfway through the design and development stages of the arena. Sarver said he believes the city of Phoenix is going to like the designs the team is developing.</span></p><p><span style="font-size:15px;">The entire project is expected to be finished before the start of the 2021 National Basketball Association season, which will start in October of that year.</span></p><p><span style="font-size:15px;">Some arena work and changes will be seen at the beginning of the Suns 2020 season, Sarver said.</span>​</p></div>9/20/2019 7:00:00 AM



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