Q: Your attraction is beloved by Arizonans and tourists alike. How are you reaching those different markets? Craig Culy Acting Director Musical Instrument Museum Sector: Arts & Culture MIM’s unique connection to Arizona emanates outward and helps it attract visitors from near and far. MIM consists of a museum displaying more than 4,200 instruments from around the … [More]
Joining Forces to Combat Local Auto/Diesel Technician Shortage
Automotive shops and dealerships across the country have been hit hard by the technician shortage — and Phoenix is no exception. Several area shops, dealerships and schools are joining forces on WrenchWay, an online community for automotive and diesel professionals, to combat the local technician shortage by promoting and improving technician careers in the region. “It’s … [More]
Nonprofit Solar Co-Op Helps Small Businesses Go Solar
An effort is underway to help small businesses and households in the Phoenix area go solar together. The recently launched Phoenix Metro Solar Co-op uses group purchasing power to offer solar to co-op members at competitive rates. The co-op uses a local solar provider selected by group members in an open bidding process. By joining, small businesses receive guidance from … [More]
Out-of-Town Moves Have Fallen 6% from a Year Ago, Phoenix Tops the List of Cities to Move Into
The number of Redfin.com users looking to move to a different part of the country is down 6% from a year earlier, the biggest drop on record, as the overall U.S. housing market remains cool in the face of high mortgage rates and economic uncertainty. This is according to a new report from Redfin, the technology-powered real estate brokerage. That’s a big swing from a year ago … [More]
More Than 2 in 5 Home Sellers Are Making Concessions to Buyers, Nearly Double Last Year’s Share
Home sellers gave concessions to buyers in 42.9% of U.S. home sales during the three months ending April 30, up from 25.5% a year earlier, according to a new report from Redfin, the technology-powered real estate brokerage. That’s just shy of the 45.6% record-high hit in February. The share of home sellers providing concessions—which include things like money toward repairs, … [More]
Most Americans More Likely to Stay in Hotels for Vacation This Summer vs. Last
This summer, most adults are more likely than they were in the summer of 2022 to stay in a hotel and take vacation trips, according to a new national Hotel Booking Index survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult. Thinking about the summer ahead, most adults report being more likely than they were in 2022 to … [More]
Phoenix Sunshine and Job Market Noted in U.S. News ‘Best Places to Live’ Ranking
U.S. News & World Report, the global authority in rankings and consumer advice, unveiled the 2023-2024 Best Places to Live in the nation. The new list ranks the country’s 150 most populous metropolitan areas based on value, desirability, job market and quality of life and Phoenix lands at number 110 on the list. Green Bay, Wisconsin, ascended two positions to … [More]
Asking Rents Flattened in April as Landlords Faced Rising Vacancies, Phoenix Down 9.6%
The median U.S. asking rent rose 0.3% year over year to $1,967 in April—the 11th-consecutive month of slowing growth, according to a new report from Redfin, the technology-powered real estate brokerage. That compares to a revised increase of 1.4% one month earlier and a 16% increase one year earlier. On a month-over-month basis, the median asking rent fell 0.2%, which … [More]
Bettors in Arizona Wagered Over $609M on Sports in February
Bettors in Arizona wagered over $609 million on sports in February of 2023, according to a new report by the Arizona Department of Gaming. This represents nearly a 24% increase when compared to February of 2022. “The second month of 2023 saw significant levels of sports betting in the state, with over $117 million more when compared to February of 2022,” said Jackie Johnson, … [More]
AAED Releases Its State of Arizona Economic Development Survey: Economy, Water, Housing Affordability among Key Concerns
The Arizona Association for Economic Development (AAED) announced the results of its State of Arizona Economic Development survey at its recent spring conference in Tucson. AAED surveyed its membership of more than 500 economic development practitioners and those that provide goods and services from the private sector. With the economy on everyone’s mind, the survey showed … [More]
Design-Build Construction Firm Releases Q2 Construction Delivery Outlook Report
Leading design-build firm LGE Design Build released its second quarter Construction Delivery Outlook Report that monitors and analyzes the economic uncertainty and changes within construction labor, supply chain, material pricing, inflation and overall demand. “The recent turbulent years have taught us that the construction industry is resilient but that we need to be … [More]
Self Storage Sales Market Stays Strong with $10B in Sales, Still Attracting Investors
The self storage market, typically a haven for savvy investors, remained high in 2022. More than 73.4 million square feet of storage space traded last year, for a combined total of $10 billion. That’s according to our most recent industry sales report in which we wanted to gauge the state of the sales market and sought to identify the top self storage markets based on … [More]
9 in 10 Small Businesses Face Hiring Challenges
There are 33.2 million small businesses in America, which have generated nearly two-thirds of all new jobs between 1995-2021, according to the U.S. Chamber of Commerce. Yet, a persistent shortage of skilled workers is hitting them especially hard. With May being Small Business Month, I thought it could be a prime opportunity to spotlight the challenges small businesses face … [More]
Job Openings Remain on Main Street, 92% of Owners Report No Qualified Applicants for Open Positions
Small business owners continue to struggle to find workers, with 45% (seasonally adjusted) of all owners reporting job openings they could not fill in the current period. The share of owners with unfilled job openings exceeds the 49-year historical average of 23%. Of those hiring or trying to hire, 92% of owners reported few or no qualified applications for the positions they … [More]
March U.S. Annual Home Price Growth Dips to Lowest Rate in More Than a Decade, Says Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for March 2023. U.S. home price growth fell to 3.1% in March, the lowest rate of appreciation since the spring of 2012. While home price growth rose for the 134th consecutive month, it declined from one year … [More]
Position Your Business for Acquisition
It takes time to develop and execute a strategic plan
Many entrepreneurs launch their companies with an eye toward eventually selling them. But preparing a business for an acquisition is not as simple as making the decision to sell. The process can be complex and take several years, depending on objectives and the state of the business, which can leave the founders or owners unsure of where to begin. Regardless of company or … [More]
Out-of-Town Moves Remain Popular as High Housing Costs Push Homebuyers to Affordable Areas, Phoenix Still a Top Destination
The number of Redfin.com home searchers looking to relocate to a new metro fell 4.2% from a year earlier in the first quarter, compared with a 15.6% drop for those looking to move within their current metro. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Those are the biggest drops in Redfin’s records, which go back through … [More]
