HOT TOPICS
Culture Corner Debuts at Sky Harbor International Airport
In 1935, the city of Phoenix purchased Sky Harbor Airport. The airport has grown from being known as “The Farm" to one of the nation's busiest, most innovative, and most friendly airports. In fact, America's Friendliest Airport® is always looking for ways to elevate the passenger experience, and as part of the kick-off to a year-long celebration of activities to … [More]
Southern California-Based Real Estate Investment Firm Expands into Phoenix Market with Small-Bay Industrial Acquisition
Captiva Partners, a real estate investment and operating firm specializing in industrial and flex properties across the West Coast, is proud to announce the off-market acquisition of a 40,075-square-foot multi-tenant small-bay industrial property located at 2209-2211 W 1st St in Tempe, Arizona, marking its entry into the Phoenix market. Captiva plans to rebrand the … [More]
Pending Home Sales Fell the Most Since 2022 in December as Mortgage Rates Jumped
Pending home sales fell 4.5% month over month in December on a seasonally adjusted basis—the largest decline since October 2022—and dropped 2.3% year over year. That is according to a new report from Redfin, the technology-powered real estate brokerage. Homebuyer demand dipped at the end of the year because mortgage rates jumped. After inching downward at … [More]
SBA Strengthens Small Business Community Lending Network
The U.S. Small Business Administration (SBA) announced additions to the Community Advantage Small Business Lending Company (CA SBLC) program. The SBA is adding more nonprofit organizations to the program to assist underserved markets. The Biden-Harris Administration’s updates further increase 7(a) loan access to veterans, women, rural areas, and low-to-moderate income … [More]
Arizona Cardinals and SRP Score $42,000 for Educators
While the Arizona Cardinals’ season has come to a close, Arizona teachers have a reason to celebrate. Thanks to the Touchdowns for Teachers program, each touchdown scored allowed two teachers to receive $500 grants. This year, the Cardinals' 42 touchdowns translated into $42,000 for Arizona classrooms. This grant from the Cardinals and SRP has given my students … [More]
Chicago-Based Specialty Bakery Co. Acquires Phoenix Mexican Pastry Manufacturer
Sweetmore Bakeries announced that it has completed an acquisition of Azteca Bakeries, a wholesale manufacturer of authentic Mexican pastries and baked goods based in Phoenix. The acquisition of Azteca will add to the already expansive set of premium products offered by Sweetmore Bakeries across retail and foodservice channels. Azteca is headquartered in Phoenix, … [More]
TOP STORIES
Phoenix Considers Multiple Options to Balance Budget, Shortfall Anticipated
The City of Phoenix is exploring options to deal with a potential budget shortfall, which could include raising sales tax or cutting some services to residents. The City is required to adopt a balanced budget each fiscal year. Under the direction of the Mayor and Phoenix City Council, the City has successfully managed significant growth in … [More]
Governor Announces $17 Million for Border Security
Governor Katie Hobbs announced $17.2 million in funding from the SAFE (Stopping Arizona’s Fentanyl Epidemic) initiative to support local law enforcement’s border security work, drug interdiction efforts, and combatting human trafficking. This investment will support law enforcement departments, including county sheriffs’ offices, to address critical challenges in … [More]
Small Business Optimism Surges Again, Reaches Six-Year High
The NFIB Small Business Optimism Index rose by 3.4 points in December to 105.1, the second consecutive month above the 51-year average of 98 and the highest reading since October 2018. Of the 10 Optimism Index components, seven increased, two decreased, and one was unchanged. The Uncertainty Index declined 12 points in December to 86. “Optimism on Main Street … [More]
New Accelerator Partnership Announced to Transform Arizona into a Global Tech Powerhouse
Tesoro.vc, in partnership with the City of Phoenix, the Greater Phoenix Economic Council (GPEC) and StartupAZ, is proud to announce the launch of its groundbreaking startup accelerator. This visionary initiative aims to position Arizona as a premier national and global hub for technology startups. Headquartered in Phoenix, one of the fastest-growing cities in the … [More]
FEATURED STORIES
Survey: As 2025 Begins, CEOs Are Most Worried about a Trade War and Recession
As the new year begins, what will keep the world's executives up at night? CEOs globally rank intensified trade wars as the top geopolitical risk to their companies. They say tensions between the US, EU, and China will have the greatest geopolitical impact, according to a new survey from The Conference Board. When it comes to economic risks, leaders can't seem … [More]
Business Applications: Study Reveals Arizona Has Tenth-Highest Rate
New research has named the states the most interested in starting a business, with Arizona ranking tenth. The study, conducted by digital marketing experts at Skyline Social, analyzed U.S. Census Bureau data from October 2023 to September 2024 on the number of business applications in each state, to identify which state is the most entrepreneurial. According … [More]
Amid TikTok Ban Uncertainty, Users Are Flocking to RedNote: The Plot Twist No One Expected
As the clock ticks down to January 19, 2025, the fate of TikTok in the U.S. hangs in the balance. The Supreme Court is expected to issue a ruling any day now on whether TikTok will be banned in the United States, leaving millions of users, brands, and influencers in limbo. But while the legal process plays out, an unexpected trend is taking shape: TikTok users are … [More]
LATEST ISSUE
January Guest Editor: Rick McCartney, InMedia Company
In spite of science telling us the universe is expanding, the world we live in seems to be getting smaller as we become increasingly interconnected. This is why we so appreciate the insights and expertise of the business leaders who speak so eloquently in the cover story in the following pages. As we make plans for 2025 in our own organizations, we can enjoy the … [More]
Trending in 2025: Forecasting Strengths and Challenges in Our Key Economic Sectors
As we look to the new year ahead with the usual mixture of eagerness and trepidation, we recognize how interconnected we are. Business does not exist in silos, so we value insights from fields that touch our own, even if only peripherally. In Business Magazine reached out to leaders of businesses in our community for their thought leadership in areas at the very … [More]
LIVE AND LEARN
6 Downtown Phoenix Buildings to Celebrate during Historic Preservation Month
In a city that’s booming with new developments, the historic places and spaces that are dotted throughout our streets can elicit a sense of mystery, awe and curiosity about days gone by. Downtown Phoenix may be considered a young city, but it’s also home to a number of historic buildings that add character to our streets, and give a glimpse into what life … [More]
Mad Hatter the Musical Premiers This Weekend
Long before Alice, there was the notorious Mad Hatter. Discover the tumultuous tale of his haunting backstory and follow his path to Wonderland, where the secrets of his transformation await in this spellbinding new musical. Audiences at the Herberger Theater Center will be the first to experience this vivid new musical production of Mad Hatter The Musical, which … [More]
THE MOORS at Estrella Mountain Community College Performing Arts Center
Inspired by the letters of Charlotte Brontë, this dark comedy about love, desperation, and visibility features two sisters and a dog living out their lives on the bleak English moors, until the arrival of a hapless governess and a moor-hen set them on a strange and dangerous path. Contemporary Queer playwright Jen Silverman has brilliantly crafted characters who each … [More]
PHILANTHROPY
Credit Union Makes over 900 Refurbished Laptops and PCs Available to Employees, Nonprofits
In 2024, Arizona Financial Credit Union made a significant community impact by donating over 920 refurbished laptops and PCs to local nonprofits and the credit union’s employees. … [More]
Arizona Builders Deliver Thousands of Toys to Kids in Need
Arizona Builders Alliance (ABA) with the help of construction industry workers across the state helped make a difference in the lives of over 3,000 children in need this holiday … [More]
Bank Gives $400,000 Multiyear Leadership Development Grant to Two Valley Nonprofits
Celebrating its 20th year, Bank of America’s signature Neighborhood Builders® program continues to be one of the nation’s largest philanthropic investments into nonprofit … [More]
POSITIONS
City of Phoenix Appoints New Chief Privacy Officer to Strengthen Commitment to Data Privacy
The City of Phoenix and Information Technology Services Department are pleased to announce the appointment of … [More]
Arizona CEO Appointed to Federal Reserve Bank Board
Delta Dental of Arizona announced its president and chief executive officer Michael Jones has been appointed to a two-year term on the Federal Reserve Bank of San Francisco’s Los … [More]
New Chief Operating Officer for Holualoa Companies Named
Veteran real estate leader Steve Lindley has been appointed Chief Operating Officer of Holualoa Companies, as previous COO Stanton Shafer transitions to a Senior Advisor role as a … [More]
ACHIEVEMENTS
Phoenix Community Alliance Announces 2024 Center City Award Winners
Every year since 1993, Downtown Phoenix’s premier business leadership and advocacy organization, Phoenix Community Alliance (PCA), thoughtfully hand-selects luminaries who have … [More]
CRE Association Elects New Officers and Board for 2025, Celebrates Members with Annual Awards
BOMA Greater Phoenix (Building Owners and Managers Association), the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge, is … [More]
Seven Piper Fellows Selected for Their Leadership and Impact in Maricopa County
Seven dynamic Maricopa County nonprofit leaders were selected for Piper Trust’s 2024 Class of Piper Fellows. The Fellows are: Tami Bohannon, president and CEO, Foundation for … [More]
