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]
Not Just Dollars: Why U.S. Firms Should Consider Transacting in Foreign Currencies
For decades, most U.S. businesses have defaulted to transacting international business in U.S. dollars. The dollar’s status as the world’s reserve currency makes this possible, with approximately 55% of bank customers’ cross-border flows denominated in dollars, according to a recent report from the International Monetary Fund. However, “possible” doesn’t always mean … [More]
Import Tariffs: The Hidden Costs of Staying Competitive
In Arizona, where population growth and record-breaking demand are stretching the power grid, the push for new solar and energy infrastructure is as strong as it has ever been. Every project we deliver connects to a system that needs more capacity and more resilience. Yet, the pace at which we can build is increasingly shaped by a factor that feels far removed from substations … [More]
Valley Housing Sends Mixed Message as Buyer Activity Ticks Up and Prices Ease
Active listings of homes for sale fell 1.4% month over month in August—the largest seasonally-adjusted decline since June 2023, according to a new report from Redfin, the real estate brokerage powered by Rocket. They rose 9.7% from a year earlier—the smallest year-over-year increase since March 2024. New listings also cooled, falling 1.1% month over month to the … [More]
Valley Closed Home Sales Double National Rate
Greater Phoenix August home sales closed up 4.6% from July and up 2.8% for the first eight months of 2025 in year-over-year comparisons, according to the latest data from Phoenix REALTORS. Closed sales in the Valley were more than double the national rate. Nationally, sales were up 2% from August 2024 and 0.8% for year-to-date numbers comparing 2025 over … [More]
Report: Home Inventory Peaks and Competition Eases Mid-October
The best time to buy a home in 2025 is fast approaching. According to the Realtor.com 2025 Best Time to Buy Report, the week of October 12–18 will be the year's sweet spot for home shoppers, with a rare combination of higher inventory (32.6% more active listings from the start of the year), lower prices (a potential savings of $15,000), and less competition (30.6% lower) that … [More]
