Arizona Cities among Best in U.S. for Economic Growth

In the wake of the COVID-19 pandemic, Arizona has shown resilience and resurgence, positioning itself as a burgeoning “boomtown” and future economic powerhouse. In fact, five Arizona cities earned a place on CoworkingCafe’s study on the best U.S. cities for economic growth: Mesa and Phoenix, for large cities, with total points of 65.60 and 62.80, respectively); Gilbert and Chandler for midsize cities, with total points of 67.15 and 58.74, respectively; and Surprise for small cities, with total points of 59.90.

The CoworkingCafe study underscores Arizona’s trajectory by highlighting significant advancements in key areas. Phoenix and Mesa’s infrastructure growth, marked at 34.26%, showcases strategic investments that support business expansion and enhance quality of life. The impressive 37.82% GDP growth in Phoenix and Surprise reflects a diversified and robust economic landscape, crucial for post-pandemic recovery and sustained prosperity. Additionally, increases in educational attainment and employment rates indicate a well-prepared workforce, while the reduction in crime rates and rise in median earnings enhance the state’s attractiveness for residents and investors alike. These factors collectively reinforce the state’s status as an economic leader, paving the way for continued growth and innovation, providing a great view of what’s to come for Arizona.

When compared to similar markets such as Texas and Florida, Arizona’s growth is particularly notable. Cities like Austin and Dallas in Texas, known for their strong economic performance, also exhibit significant GDP and infrastructure growth. However, Arizona’s unique combination of educational advancements, crime reduction and median earnings increase sets it apart. Florida’s cities, such as Miami and Orlando, have seen robust tourism-driven recoveries, but Arizona’s diversified economic base, which includes technology, manufacturing and healthcare, provides a more balanced and sustainable growth model.

“In the aftermath of COVID-19, Arizona is forging ahead as a dynamic ‘boomtown’ and economic powerhouse, as highlighted by our recent CoworkingCafe study,” says Andreea Neculae, who authored the study. “The data underscores significant strides in infrastructure and economic growth across cities like Phoenix and Mesa, reinforcing Arizona’s role as a beacon of resilience and opportunity. These advancements, coupled with improvements in education, safety, and income, position Arizona as a prime destination for both residents and investors, promising a bright future of sustained growth and innovation.”

Details on Phoenix’s Ranking among Large U.S. Cities

• Infrastructure evolution 2022 vs. 2018: 34.26% growth, reaching 16,073 miles (ranking #1)
• GDP evolution 2022 vs. 2018: 37.82% growth, reaching $362,086,516 (ranking #2)
• Employment rate evolution 2022 vs. 2018: 2% growth, reaching 65% (ranking #4)
• Educational attainment evolution 2022 vs. 2018: 3% growth, reaching 1,215,251 residents (ranking #6)
• Median earnings evolution 2022 vs. 2018: 29% growth, reaching $40,952 (ranking #8)
• Crime rate evolution 2022 vs. 2018: 13% drop, reaching 61,045 incidents (ranking #8)

Details on Mesa’s Ranking among Large U.S. Cities

• Infrastructure evolution 2022 vs. 2018: 34.26% growth, reaching 16,073 miles (ranking #1)
• GDP evolution 2022 vs. 2018: 37.82% growth, reaching $362,086,516 (ranking #2)
• Employment rate evolution 2022 vs. 2018: 2.1% growth, reaching 62% (ranking #3)
• Median earnings evolution 2022 vs. 2018: 33% growth, reaching $41,014 (ranking #4)
• Educational attainment evolution 2022 vs. 2018: 4% growth, reaching 387,836 residents (ranking #5)

Details on Surprise’s Ranking among Small U.S. Cities

• Infrastructure evolution 2022 vs. 2018: 34.26% growth, reaching 16,073 miles (ranking #4)
• GDP evolution 2022 vs. 2018: 37.82% growth, reaching $362,086,516 (ranking #5)
• Unemployment evolution 2022 vs. 2018: 2.3% drop, reaching 5% (ranking #9)
• Employment rate evolution 2022 vs. 2018: 2.2% growth, reaching 54% (ranking #14)

Note: GDP values are expressed in thousands of USD (e.g., $2,000,000 in GDP means $2,000,000,000). Trade values are expressed in millions of USD (e.g., $2,000 in trade means $2,000,000,000).