“Arts and culture is a significant industry in Arizona,” says Chris Camacho, president and CEO of the Greater Phoenix Economic Council, citing numbers that support the statement: The sector represents 3% of the state’s total GDP, employs more than 84,000 individuals and in 2022 added $14.2 billion to the economy. That last figure, he notes, is “nearly as much as agriculture, … [More]
Strategies for Businesses and Their Healthcare
What businesses should know about making healthcare affordable
“With more and more Arizonans looking to their employers to help them manage their health, employers feel the mounting pressure — because the landscape is changing,” observes Pam Kehaly, president and CEO of Blue Cross Blue Shield of Arizona. In fact, she reports nearly half our state’s population is covered by employer-sponsored health insurance — more than 3 million … [More]
Leadership & Giving Back: Honoring Our 2024 Women of Achievement
“If I’m not for myself, who will be for me, if not now, when; but if I’m only for myself, what am I?” Taking a close look at the third part of this quote from Hillel, a noted Jewish philosopher who lived in the first century BC, we agree with the sentiment that doing good for others completes us as individuals. Our Women of Achievement awards this year celebrate women who … [More]
Lights. Camera. Action. Arizona Has High Production Values in the Film Industry
“When the film and television industry was just getting started, Arizona was a huge part of it,” relates Randy Murray, who, as co-owner with wife, Theresa, of Randy Murray Productions, has three decades of experience in Arizona’s film industry. Noting that John Wayne and John Ford both had homes here and Dick Van Dyke built a studio in Carefree near his home, he adds, “We were … [More]
Advancing Enterprise: How Big Business Is Working to Empower Small Business
As much as business can be a cutthroat world with individual companies fighting for their space in it, it’s also true that it’s an interconnected world in which “a rising tide lifts all boats,” to use the phrase made popular by President John F. Kennedy. This month, In Business Magazine sought out some of the major businesses and organizations in our community to highlight … [More]
Legal-Ease: Your Lawyer as Your Business Consultant
Navigating challenges and identifying opportunity
Attorneys can offer far more benefit to businesses than retroactively putting out fires from businesses’ missteps and other problems. With their expertise in specific practice areas, they can not only help businesses avoid problems but even identify potential opportunity that business executives focused on day-to-day operations may not otherwise have considered. With Burch … [More]
The Real Deal: On the Ground with Commercial Real Estate
Arizona’s real estate market has had a yo-yo cyclical nature for decades. Are we entering a time of more stability? In Business Magazine has asked leading professionals in this market to share insights on what is happening now in the four real estate sectors of industrial, retail, office and multifamily plus how real estate is supporting the important economic sector of … [More]
Capital Ideas: How Different Types of Funding Can Grow Business
Part I: Loans, Grants and Investment
Prominently visible on buildings around town are names that demonstrate the strength and depth of the financial sector here — serving a business community equally strong and varied. We connected with select members of that sector to present an overview of funding types and opportunity. Notes Ken Bauer, chief lending officer at OneAZ Credit Union, “In order to grow or improve a … [More]
It’s Lonely at the Top: Empowering CEOs to Be Their Best
It’s not only lonely at the top, it’s precarious — as good leaders live up to President Harry Truman’s famous statement acknowledging the responsibility that comes with authority: “The buck stops here.” Even experienced CEOs running major corporations may not be managing themselves well; focused on managing the company, they’re neglecting some basic aspects of self-care, best … [More]
The 7 Wonders of Greater Phoenix: Economic Game-Changers for Our Metropolitan Area
Inspired by the Seven Wonders of the Ancient World, In Business Magazine has identified seven game-changing projects and events that add to the dynamic vitality of Greater Phoenix and contribute to the continued growth of this fifth-largest metropolitan area in the nation. Seven Wonders: Mayo’s Discovery Oasis In late 2021, Mayo Clinic announced it would develop a … [More]
Chips, Climate, Culture, College, Construction: The New ‘5 C’s’ of Our Economy
Arizona’s early economy was based on the strength of what it famously called the “5 C’s”: Climate, Cattle, Copper, Cotton and Citrus. Some of those continue to infuse strength to the state’s economy, some have morphed into a broader category, and some have had their elite spot usurped by a newcomer. In Business Magazine offers a 2024 take on the 5 C’s economy for Arizona … [More]
19 Top Leaders of 2023: Our list of Valley leaders who are making a real difference!
Each year, we select top leaders who have had great success over the preceding year. This year, we selected 19 leaders in varied established sectors within our business community. We asked hard-hitting questions of these leaders to get a sense of what they see for 2024. Each of them is truly entrenched in growing their companies and our economy, in developing policy, managing … [More]
Trading Places: How Are We Fostering International Business?
“Arizona and Greater Phoenix’s emergence as a top national market has coincided with the growth of its international trade,” states Chris Camacho, president and CEO of Greater Phoenix Economic Council. He notes that, from 2012–2022, Arizona’s world trade increased by more than 60%, which was well above the national average of about 39% and was part of a surge in recent years, … [More]
The Power of Healthcare: Making the Healthcare Industry Work for Arizonans
Health and well-being has long been a stand-alone category within which organizations have created narrowly defined programs. But there is a growing awareness of the interconnectedness of lifestyle and healthcare choices, and the organizations featured in this article share what they are doing to build on that. In this regard, many discuss their efforts with Blue Zones. The … [More]
2023 Women of Achievement: Celebrating Leadership & Equity
Leadership styles vary with the unique personality of the individual, and each may also have different criteria for gauging what constitutes “success.” However, to co-opt the famous quote from Justice Potter Stewart, we know it when we see it. And we see it abundantly in the stories on the pages that follow. Equity, however, is a more difficult concept. Are we talking about … [More]
Home Economics: Does the Housing Market Impact Our Economic Growth?
“When the housing market is strong, typically economic growth is strong,” observes Randy Bury, who has more than 25 years’ experience in home building, land acquisition and development and is founder and owner of Moderne Communities®, an Arizona-based real estate investment and development company. “I believe approximately 65–70% of GDP is consumer spending, of which … [More]
Is Who We Are Shaping the Tech Industry?
And how are we making it work?
“Arizona’s tech community is a connected community,” says Sandra Watson, president and CEO of the Arizona Commerce Authority. “The camaraderie between entrepreneurs, whether you’ve been here for decades or just arrived this year, is as generous and welcoming as any in the world — a valuable asset for fostering innovation and collaboration.” Such positivity from the state … [More]
Tourism & Taxation: How the Bed Tax and Major Events Benefit Business
Valley of the Sun as a hot destination
“As Greater Phoenix continues to evolve, the visitor industry for our destination continues to grow,” says Eric Kerr, vice president of Insights and Development for the convention and visitor bureau Visit Phoenix. He cites the fact that, since 2020, 46 new hotel properties have opened in the region with more than 7,600 hotel rooms. Additionally, Sky Harbor International Airport … [More]
