With over $34 billion in new investment, nearly 28,000 projected new jobs, and major wins across semiconductors, aerospace, AI, broadband, and more, 2025 delivered a year of record-breaking growth for Arizona. During calendar year 2025, the Arizona Commerce Authority and economic partners successfully won 90 competitive projects from companies that committed to creating 27,749 … [More]
Guest Editor: Kimber Lanning, Local First Arizona
Truths to Tariffs Tariffs are far from a simple cost add-on phenomenon that end-users have to deal with. They insinuate themselves into business operations and supply chain calculations far removed from any obvious final product. But that isn’t the only strain today’s business leaders contend with due to tariffs — the actual status of a given tariff may change without … [More]
Business Exit Planning: How to Prepare ahead of a Sale
Selling a business is a significant milestone, both personally and financially — but it also takes a deliberate plan to maximize the sale proceeds and to prepare personally for the business exit. The more time business owners have in crafting and executing their business exit plans, the higher the probability they will achieve their desired outcomes. Understanding the different … [More]
The Winner’s Curse: Behavioral Economics Anomalies, Then and Now
Nobel Prize-winner Richard H. Thaler and rising-star economist Alex O. Imas explore the past, present and cutting-edge future in behavioral economics in The Winner’s Curse. Why do people cooperate with one another when they have no obvious motivation to do so? Why do we hold on to possessions of little value? And why is the winner of an auction so often disappointed? More … [More]
Trading on Tariffs: The Cost Impact of Doing Business across Border
Most people understand that tariffs are not simply a cost tacked onto the final price of a product but permeate every step in the network of transactions that ultimately result in its reaching the market. As businesses throughout the supply chain and marketplace evaluate the challenges tariffs pose for them and calculate their response, we see differences not just in the choice … [More]
New Data Shows Broad Population Gains Supporting Business Growth Statewide
Arizona continues to experience robust population growth, fueling gains in both the labor force and the broader economy. According to newly released estimates from the Arizona Office of Economic Opportunity, Arizona added 97,044 residents between July 1, 2024, and July 1, 2025, representing a growth rate of 1.2%. Arizona’s continued growth underscores its appeal as a … [More]
Small Business Optimism Ticks Up as Hiring Plans Hit Year’s High
The NFIB Small Business Optimism Index rose 0.8 points in November to 99.0 and remained above its 52-year average of 98. Of the 10 Optimism Index components, six increased, three decreased, and one was unchanged. An increase in those expecting real sales to be higher contributed most to the rise in the Optimism Index. The Uncertainty Index rose 3 points from October to 91. An … [More]
Feedback: December 2025
Q: Realizing these are volatile times, what economic trends do you expect will impact your business in 2026? Dr. Rajan Bhatt CEO OrthoArizona Sector: Healthcare Arizona’s economy continues to be defined by strong population growth and that will remain a major economic force in 2025. The Valley is adding new residents faster than almost any other region in the country, … [More]
Labor Quality Tops SMB Concerns as Optimism Edges Down
The NFIB Small Business Optimism Index declined 0.6 points in October to 98.2 but remained above its 52-year average of 98. The Uncertainty Index fell 12 points from September to 88, the lowest reading of this year. “Optimism among small businesses declined slightly in October as owners report lower sales and reduced profits,” said NFIB Chief Economist Bill Dunkelberg. … [More]
From Barriers to Breakthroughs: Advancing Arizona’s Innovation Economy
Companies across diverse industries face remarkably similar challenges
Recent economic uncertainties create headwinds for Arizona businesses, yet our state continues to strengthen its position as a growing technology hub. Phoenix recently hosted SEMICON West 2025, ASU and Applied Materials just opened a shared world-class $270-million research and development facility, and TSMC's $100-billion investment attracts supplier companies daily. These … [More]
Franchise Growth Hinges on Closing the Consumer Expectation Gap
Franchises remain a powerful economic driver in the United States, contributing more than $936 billion in output in 2025. Among the top states for franchise growth? Arizona. Yet new research from LT (formerly LaneTerralever) reveals that growth may be at risk due to a widening disconnect between what consumers expect and where franchisors are investing. Today’s consumers … [More]
Phoenix Lauded as Most Opportunity-Rich City for Construction Workers
Phoenix is offering the most opportunity for construction workers of any U.S. city in 2025, as the industry experiences strong growth nationwide. With new projects fueling job creation, construction spending is expected to reach $2.2 trillion this year, a 2% increase from 2024. With demand on the rise, Astrak, a leading global supplier of undercarriage and wear parts for heavy … [More]
U.S. Housing Shows Unseasonal Strength on Rate Dip – Phoenix Market Remains Balanced
A September dip in mortgage rates paired with a stock market bump gave a boost to what is traditionally the start of the slow season in real estate. The latest market report from Zillow shows activity from sellers and buyers is unseasonably resilient after a lackluster August. "September's market showed surprising stamina," said Kara Ng, senior economist at Zillow. … [More]
$13B in Untapped Gains: How Housing Affordability Is Key to Arizona’s Economic Future
Arizonans have made housing affordability one of their top priorities, and the economic case for action is clear. According to new analysis from Unlocking Potential: Turn Arizona’s Priorities into Economic Gains, a report released by Center for the Future of Arizona (CFA), tackling the state’s housing affordability crisis could unlock billions, support jobs, reduce strain on … [More]
Valley Single-Family Home Sales Gain Footing in September
Closed sales climbed nearly 11% in September, a promising sign after a flat and dismal summer. The 10.8% rise over September 2024 topped a month of steady numbers and some bright spots for the residential real estate market, according to data from Phoenix REALTORS. “Closed sales were comfortably up last month compared to September last year,” said Christy Walker, … [More]
NFIB: Small Business Optimism Declines in September
The NFIB Small Business Optimism Index declined 2.0 points in September to 98.8. This was the first decline in three months, though it remains above the survey’s 52-year average of 98. The Uncertainty Index rose 7 points from August to 100, the fourth-highest reading in over 51 years. “Optimism among small business owners decreased in September,” said NFIB Chief Economist … [More]
CBRE Answers: How Is Semiconductor Growth Reshaping Metro Phoenix?
In a new report from CBRE, the firm outlines how Arizona’s semiconductor ecosystem has matured from historic roots to a modern growth engine, underscoring the state’s long-standing strengths and its accelerating momentum. Drawing on industry data and recent project activity, CBRE details the factors that have elevated Arizona—its stability, talent pipeline, and coordinated … [More]
An Economy in the Chips
Arizona is the U.S. Semiconductor epicenter
Thanks to a purposeful focus and our vaunted collaborative environment among economic development organizations that include Arizona Commerce Authority, Greater Phoenix Economic Council and the City of Phoenix Community and Economic Development Department, Arizona stands in the national spotlight as the epicenter of America’s semiconductor resurgence. ACA reports that … [More]
