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On this page you will find important news about the Phoenix business environment, from key company locates to the overall economy.
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Eric Jay Toll
Communications Manager 
Mobile:  602-617-3797



Metro Phoenix job growth over last year outpaces total in 21 states324Metro Phoenix job growth over last year outpaces total in 21 states<div class="ExternalClassAF40EF51C7F24924B3709D1845BF0701"><p>​<img src="/econdevsite/MediaAssets/WEXFORD-20190307-Helmets-at-groundbreaking-01.jpg" alt="WEXFORD-20190307-Helmets-at-groundbreaking-01.jpg" style="margin:5px;" /><br><em>Kevin Stone, KTAR</em><br></p><p><span style="font-size:14.6667px;">A decade of local governments focusing on sustainable job growth is paying off across the Valley.<br>From April 2018 to April 2019, the Phoenix area added 68,000 jobs, beating the total in 21 states, including Colorado, Nevada, Utah and Massachusetts, according to a Phoenix Community and Economic Development department press release.<br></span></p></div>5/24/2019 7:00:00 AM
Phoenix leads US in population growth, new Census data shows323Phoenix leads US in population growth, new Census data shows<div class="ExternalClassAA9CA666D49B4B89A7EB4BF3B6BEAAFF"><p>​<img src="/econdevsite/MediaAssets/DOWN-20180222-Downtown-from-Northwest-749.jpg" alt="" style="margin:5px;" /><br></p><div><em>Tim Gallen, Phoenix Business Journal</em></div><p><span style="font-size:14.6667px;">​Phoenix is the fastest-growing city in the country, according to newly released estimates from the U.S. Census Bureau.</span></p><p><span style="font-size:14.6667px;">Phoenix welcomed 25,288 new residents between 2017 and 2018 — more than any other American city. Phoenix remains the fifth most-populous city with a population of 1,660,272, according to Census data.</span></p><p><span style="font-size:14.6667px;">San Antonio, Texas (20,824 new residents); Fort Worth, Texas (19,552); Seattle (15,254); and Charlotte, North Carolina (13,151) rounded out the top five fastest-growing cities by raw population numbers.​​​</span></p></div>5/23/2019 8:00:00 PM
Phoenix is fastest-growing U.S. City for 3rd year in a row320Phoenix is fastest-growing U.S. City for 3rd year in a row<div class="ExternalClass98350EEF79124D3D8B9D9C9007B82F01"><p><em><img src="/econdevsite/MediaAssets/DOWNTOWN-20180222-Talking-Stick-Resort-Arena-and-Downtown.jpg" alt="" style="margin:5px;" />​By Eric Jay Toll for Economy Update</em><br></p><p><span style="font-size:14.6667px;">Phoenix is the fastest-growing city in the U.S. for the third year in a row, according to 2018 population estimates from the U.S. Census Bureau released May 23. Phoenix remains the fifth most-populous U.S. city with 1,660,272 people.</span></p><p><span style="font-size:14.6667px;">Phoenix has added more than 200,000 people since the 2010 Census. Only Houston, Texas, added more. In fact, Phoenix, Houston, San Antonio and Dallas, the last three all Texas, are the only U.S. cities to add more than 100,000 in new population since 2010.</span></p><p><span style="font-size:14.6667px;">Maricopa County was the fastest-growing U.S. county in 2018. Arizona was the fourth fastest-growing state.</span></p><p><span style="font-size:14.6667px;">With 25,288 new residents choosing the city as a new home last year, cities in the West and South continued to draw population away from the Midwest and Northeast.</span></p><p><span style="font-size:14.6667px;">Phoenix                                   25,288</span></p><p><span style="font-size:14.6667px;">San Antonio, Texas                 20, 824</span></p><p><span style="font-size:14.6667px;">Fort Worth, Texas                   19,552</span></p><p><span style="font-size:14.6667px;">Seattle, Washington               15,254</span></p><p><span style="font-size:14.6667px;">Charlotte, North Carolina       13,151</span></p><p><span style="font-size:14.6667px;">In terms of percentage population growth, Buckeye was the fastest growing U.S. city with 8.5 percent increase in population. No other Arizona cities were in the top ten rankings of population growth or percentage growth. In percentage, all of the top 15 cities in percent growth, 13 were in the West, and one each in the South and Midwest</span></p><p><span style="font-size:14.6667px;">​New York City                         8,398,748</span></p><p><span style="font-size:14.6667px;">Los Angeles                            3,990,456</span></p><p><span style="font-size:14.6667px;">Chicago                                  2,705,994</span></p><p><span style="font-size:14.6667px;">Houston, Texas                       2,325,502</span></p><p><span style="font-size:14.6667px;">Phoenix                                   1,660,272</span></p><p><span style="font-size:14.6667px;">Phoenix was fastest-growing U.S. city in 2016, and tied for fastest-growing with San Antonio, Texas, in 2017.​</span></p></div>5/23/2019 4:00:00 PM
Phoenix April new job hiring tops 21 other states319Phoenix April new job hiring tops 21 other states<div class="ExternalClass57BE0A539A934053980A88DC1E80153E"><p>​<img src="/econdevsite/MediaAssets/EconomyUpdate/UPDATE-20190517-Employment-Growth-2015-2019.jpg" alt="" style="margin:5px;" /><br></p><p><em>Eric Jay Toll for The Economy Update</em> </p><p><span style="font-size:14.6667px;">The Phoenix metro added 68,000 new jobs in the year ending April 30, 2019. That's up 3.2 percent over 2018. The unemployment rate dropped from 4.1 percent to 3.7 percent for the metro area. </span></p><p><span style="font-size:14.6667px;">The Phoenix job hike for April was higher than hiring in 21 other states, including Colorado, Massachusetts, Oregon, Nevada and Utah.</span></p><p><span style="font-size:14.6667px;">Arizona posted a slight dip in the unemployment rate to 4.3 percent. In April, the U.S. rate was 3.6 percent. Arizona added 78,900 jobs in year-over-year growth, a number showing improved hiring outside the Phoenix metro. For April, 86 percent of all new jobs were created in the Phoenix area, a share that had been over 90 percent in late 2018.</span></p><p><span style="font-size:14.6667px;">In the Phoenix metro, healthcare and education services hiring was up 14,400 in year-over-year data, putting the sector workforce at 277,600. Healthcare hiring never slowed during the Great Recession. In the peak metro employment month before the downtown, October 2007, there were 179,900 healthcare workers in the Valley. At the trough, or low point in employment, the healthcare workforce increased to 197,700, a gain of 17,800 jobs. The sector has never lost momentum, and the number of jobs by April 2019 were 55 percent higher than 2007.</span></p><p><span style="font-size:14.6667px;">In April, most new jobs were created in construction, an industry facing strong service demand even as contractors struggle to find workers. The workforce increased 16,600 jobs to 138,100. That number is equal to employment in the sector in May 2004. Before the Great Recession, construction jobs peaked at 174,200 in the metro area in July 2007. The bulk of construction hiring was in the specialty trades.</span></p><p><span style="font-size:14.6667px;">Business and professional services added 14,200 jobs, with 10,500 of those in professional, scientific and technical services. Despite the shift into shoulder season, leisure and hospitality hiring was up 4,400, with 3,700 of the jobs in dining and drinking places.</span></p><p><span style="font-size:14.6667px;">The increase in mortgage rates and drop in home sales hit hard in the financial services sector. There were 700 jobs lost compared to 2018. Over 3,500 of those lost positions were in lending positions with banks and mortgage companies. That steep decline was offset by a 2,500-worker hike in insurance carrier hiring. Many of these new hires were a result of major outreach by USAA, Farmers, State Farm and Allstate insurance companies. However, over half those were in financial technology positions, according to employment tracking data by city of Phoenix.</span></p><p><span style="font-size:14.6667px;">Manufacturers in the metro added 6,100 jobs, hitting 29 consecutive months of job growth for the industry. More than 138,000 are now employed in manufacturing jobs in the Phoenix area. Phoenix manufacturing employment grew 4.8 percent in year-over-year hiring compared to 1.5 percent growth nationally for the same period.</span></p></div>5/21/2019 1:00:00 PM
Phoenix sees explosive growth along Central Avenue318Phoenix sees explosive growth along Central Avenue<div class="ExternalClass4C9FBEDC419E4541BD871AA6CA2C2E4B"><p><em><img src="/econdevsite/SiteAssets/Lists/EDNews/AllItems/CENTRAL-STATION-20190417-Polk-and-Central-Looking-South-(Crop-02)-Newsroom.jpg" alt="" style="margin:5px;" />​Steve Burks for Arizona Big Media</em><br></p><p>​​<span style="background-color:#ffffff;color:#424242;font-family:"open sans", sans-serif;font-size:medium;">It has long been an afterthought on where the latest, greatest development is happening in the Valley, but the Downtown Phoenix area is quickly becoming the place to do business or just be. Downtown Phoenix has a distinct air of excitement among real estate developers, with several projects ready to come online in 2019 and plenty more coming in the next few years. There has also been a steady stream of companies opening offices in the downtown corridor, which runs from roughly Central Avenue and Lincoln Street in the South up to Camelback Road. The area spans the Warehouse District, Roosevelt Row Arts District and Midtown.</span></p><p class="p3" style="box-sizing:border-box;margin-bottom:1em;padding:0px;border:0px;font-stretch:inherit;font-size:medium;line-height:24px;font-family:"open sans", sans-serif;vertical-align:baseline;color:#424242;background-color:#ffffff;">The reasons for all of this activity in Central Phoenix are varied. The area is perfectly situated in the middle of the metro area and features city and state government offices and courts. Major freeways are close and public transportation can take you conveniently to Tempe and Mesa in the East Valley.</p><p class="p3" style="box-sizing:border-box;margin-bottom:1em;padding:0px;border:0px;font-stretch:inherit;font-size:medium;line-height:24px;font-family:"open sans", sans-serif;vertical-align:baseline;color:#424242;background-color:#ffffff;">The most consistent answer to the question about what is driving this recent downtown growth is the effect of Arizona State University’s Downtown Campus, which brought 15,000 students to an area that was starving for new life.​<br></p></div>5/18/2019 7:00:00 AM



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