Arizona has been lauded in recent years as one of the fastest-growing states in the country, one of the strongest for entrepreneurial growth, and even its composite cities have been singled out for various economic distinctions. Our natural characteristics — proximity to global markets, ample sunshine, an unbeatable quality of living — have played a role in some of the growth. But purposeful planning and concerted collaboration are the cornerstone of the state’s current economic success.
The transformation over the last decade has been nothing short of remarkable. Even more significant is what it means for our state and its people. Having a diverse economy, one rooted in technology and innovation, can’t be measured in just jobs or capital investment. In the end, it’s about making our community better and making life better for our kids and grandkids. High-paying, good jobs; the opportunity to get an education and get trained in advanced skills; the ability to make your dream a reality — these are all things that point to a better quality of life for our people, and that’s what matters.
As this month’s cover story explores, the market here is very hot. And while our climate may be a result of nature, our economic development — current and future — owes its strength to the hard work and collaborative planning of our state, regional and local economic development organizations along with the individual cities that comprise the metropolitan areas. With input from many of the architects behind our business momentum as well as leaders of business and community organizations that support our business community, In Business Magazine editor RaeAnne Marsh describes the market now and how we got here and, most importantly, how we are making the most of our potential to sustain opportunity into the future.
The Arizona Commerce Authority is a big part of Arizona’s transition from its old reliance on the famous “5 C’s” and a cyclical economy to a sustainable economy that attracts ever more business growth. As the ACA celebrates its 10th anniversary this year, In Business Magazine presents a special section dedicated to celebrating its achievements.
You will find other valuable information in the feature article “Leading When Times Are Good,” a good reminder to decision makers that strong leadership is not just for crises; in the Legal feature that gives a heads up on consumer privacy laws that are gaining momentum; in the Roundtable feature on the carpe diem mindset with a new acronym — YOLO economy — that is impacting our economy; and in the regular departments of Healthcare, Technology, CRE, Startups and more.
This is an exciting edition of In Business Magazine, a magazine that always presents information focused on strengthening our business community. I’m pleased to be part of bringing this July edition to you. Enjoy the read.
Sincerely,
Jerry Colangelo
Partner, JDM Partners
International Sports Executive
Jerry Colangelo moved from Chicago, Illinois, to Arizona in 1968 to assume management of the expansion NBA Phoenix Suns, becoming the youngest general manager in professional sports. He also brought Major League Baseball to the Valley in 1998 and served as managing general partner of the World Champion Arizona Diamondbacks.
Colangelo is the managing director of the USA Olympic Men’s Basketball Team and is well known as one of the most active and respected business and civic leaders in the Valley.
