To comfortably afford a typical U.S. home, a home buyer making the median income needs to put down nearly $127,750, or 35.4%, a new Zillow® analysis shows. Five years ago, when mortgage rates were hovering just above 4% and the typical home was worth about 50% less, that home would have been affordable with no money down. That $127,750 down payment is what a household … [More]
$43.6M in Tribal Gaming Contributions for the Q4
The Arizona Department of Gaming (ADG) announced $43,586,004 in tribal gaming contributions to the Arizona Benefits Fund for the fourth quarter of Fiscal Year (FY) 2024. This amount represents an approximate 3.3 percent increase when compared to the same quarter of FY 2023. "Celebrating yet another remarkable milestone in tribal gaming, we are thrilled to announce that … [More]
HUD Announces $9.1M Green and Resilient Retrofit Loan for Apartment Building in Phoenix
The U.S. Department of Housing and Urban Development (HUD) announced a $9.12 million loan to Urban League Manor Apartments, a pivotal step to enhance energy efficiency and sustainability in affordable housing. The announcement was made during a ceremonial check presentation event at Urban League Manor in Phoe Key officials in attendance included Jason Pu, HUD Pacific … [More]
Greater Phoenix Chamber Announces New Board Members
The Greater Phoenix Chamber announced new leaders within its board of directors to lead the organization in its mission to catalyze regional prosperity through forward-thinking public policy, intentional economic growth, and diverse, prepared talent in fiscal year 2025. Laura Lynn Smith, division vice president and general manager, ADP, Inc. will serve as the 2024-2025 board … [More]
You Are a Leader: Whether You Know It or Not. Whether You Want to be One or Not …
You inspire people — whether you know it or not. You empower people, sometimes even if you’re not trying to. You guide people — whether you want to or not. What is your definition of “leader?” Before you go any further, let’s see if you’re singing in harmony. If not — there’s no point in pursuing this venture any further. Here’s the definition adopted for this article. … [More]
Pinnacle West Appoints Three New Members to its Board of Directors
Pinnacle West Capital Corp. announced that its board of directors has elected three new members to the company’s board: Ronald Butler Jr., a “Big 4” public accounting firm managing partner with more than 32 years of diverse management and executive leadership experience; Carol S. Eicher, a seasoned executive who has served in multiple board leadership roles with both public and … [More]
SBA Invests Over $1 Million to Expand Support for Veteran Entrepreneurs
The U.S. Small Business Administration (SBA) announced over $1 million in new funding to provide critical training and counseling to aspiring and existing veteran small business owners as a Veterans Business Outreach Center (VBOC). The new funding opportunity will make awards of up to $400,000 to up to three entities. Eligible awardees include private organizations, colleges … [More]
Arizona Commission on the Arts Announces New Executive Director
The Arizona Commission on the Arts is pleased to announce the hiring of Christina You-sun Park as the new Executive Director. Park will officially join the staff this Friday, June 21. The announcement comes a day after Governor Katie Hobbs signed the State's budget for Fiscal Year 2025. The budget includes a one-time appropriation of $2 million for the Arizona Commission on … [More]
Arizona Wins Fourth Consecutive Gold Shovel Award Recognizing Significant Economic Development Efforts
LG Energy Solution’s $5.5 billion investment in Queen Creek wins ‘Manufacturing Project of the Year’
Arizona was awarded a prestigious “Gold Shovel” award from Area Development magazine in the 5-8 million population category, marking the state’s fourth consecutive gold shovel. The Shovel Awards recognize states that “garnered large job-creating and investment projects through innovative policies, infrastructure improvements, and other processes that attracted new employers as … [More]
Small Business Economic Trends: Construction, Manufacturing, Retail, and Services Industries Survey
Survey focuses on the construction, manufacturing, retail, and services industries
The NFIB Research Center released an industry-specific quarterly Small Business Economic Trends survey highlighting the construction, manufacturing, retail, and services industries. “In general, small business owners are not optimistic about the economy and the future of their business conditions,” said Holly Wade, Executive Director of NFIB’s Research Center. “The survey … [More]
Arizona Cybersecurity Company Awarded for its Innovative Technology
Lumifi recognized as the most innovative company globally in managed detection and response
Lumifi Cyber, Inc., a next-generation leader in the cybersecurity space, was named a winner of the Global InfoSec Awards 2024 as the Most Innovative Company in Managed Detection and Response (MDR). Organized by Cyber Defense Magazine, this awards program recognizes cybersecurity companies that manage, create, and provide the most respected information security products and … [More]
Healthcare Innovator Recognized for Driving Business Growth
Lytle Is Addressing Health Inequities and Leading the Change Toward Value-Based Care in the U.S. Healthcare System
Ernst & Young LLP announced that Hugh Lytle, Founder, Chairman and CEO of Equality Health was named an Entrepreneur Of The Year® 2024 Pacific Southwest Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies. Lytle was selected by an independent judging panel made up of previous award … [More]
Phoenix Industrial Real Estate Market Is a Bright Spot in Today’s Economic Climate
Positive net absorption, continuing expansion by key players, strong pre-leasing and lower construction starts drive positive outlook
Thompson Thrift, a full-service nationally recognized real estate company engaged in industrial, commercial, multifamily, mixed-use and retail projects across the country, shared insights on the current state of the Phoenix industrial market and why they feel notable plans for near-term investment demonstrate a promising outlook for the future of the market. "While national … [More]
Home Prices Hit New High, but Buyers Gain Power as Stale Listings Pile Up and Price Drops Become More Common
Pending home sales fell 3.8%, the biggest year-over-year decline in nearly four months, during the four weeks ending June 16. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Buyers are shying away from earlier steps in the house-hunting process, too: Redfin’s Homebuyer Demand Index, a measure of requests for tours and other … [More]
Supplier Tech and Grant Management Software Co. Appoints New President
B2Gnow, the leader in supplier diversity, procurement, and grant management solutions for governments, contractors, and corporations, announced that Bryan Proctor has been named the company's President. With over two decades of experience in the technology industry, most recently as Chief Executive Officer of Spatial Data Logic, Mr. Proctor brings a wealth of expertise to … [More]
Software Development Co. Restructures with New Executives and Enhanced Services
With a strategic shift to become an innovation app builder and AI studio, Founders Workshop has announced a significant restructuring, appointing Wayne Neale as Chief Product Officer (CPO), Ana Tomboulian as Chief Technology Officer (CTO), Michael Vanderslice as Chief Operations Officer, and other key personnel to enhance its service offerings. Founders Workshop now offers … [More]
U.S. Is Now Short 4.5 Million Homes as the Housing Deficit Grows
Despite a pandemic construction boom, the U.S housing shortage grew to 4.5 million homes in 2022, up from 4.3 million the year before, according to a new analysis from Zillow®. This deepening housing deficit is the root cause of the housing affordability crisis. In 2022, Phoenix was estimated to be short more than 98,000 homes. That was an 8 percent increase over … [More]
Home Seller Marketplace Platform Launches in Phoenix and Other Markets
Redy, the only marketplace that rewards home sellers for selecting an agent who best aligns with their sale goals, announced its launch in five markets. Home sellers can now turn their listing opportunities into assets in Phoenix, Atlanta, Dallas, Orlando, and San Diego. The two-sided platform offers benefits for both parties. While agents have the opportunity to compete and … [More]
