Arizona’s economy was once known for Copper, Cattle, Cotton, Citrus and Climate — or the “5 C’s,” as they were known. Our economy has transformed in recent decades to one dependent on cycles. Thanks to a concerted, collaborative effort among economic development agencies and the business community, we now again have a diversified economy — and one based on components that promise continued strength and great potential for sustainability.
As we see the successes of other states, namely Texas and New York, grow with great effort by business organizations and the state government, Arizona has gotten a foot in the race and has experienced some very surprising stats as well. The successful growth in the semiconductor industry, logistics services and innovations, the growth of data centers and even expanded industrial space has all contributed to our overall attraction and each is making Arizona a top choice to grow business and industry.
As we take a hard look at what is attracting top companies and talent to Arizona, In Business Magazine identifies a new slate of 5 C’s that are powering our economy. Our cover story this month looks at each in depth. Chips, Climate, Culture, College and Construction are the latest and convey a new Arizona as those sectors expand and find economic success. We spoke to leaders in each “C” category and asked them to share their experience and asked them to speak to the impact the category is having on our economy today and what is in store for Arizona’s future.
Many publications take this time of year to look back at the preceding year. In Business Magazine offers several articles in this January edition that consider what’s ahead in marketing with our story entitled “5 B2B Marketing Trends for 2024”), in cybersecurity with our story called “Cybersecurity Risk Controls Remain Key to Risk Mitigation, Resilience & Insurability” and in emerging sustainable growth markets with our story called “Tech for Good.”
Further, the Economy feature explores a new investment trend in venture capital as Dean Newton shares his expertise in “Food as Medicine: Venture Capital’s Appetite for a Healthier Future.” And in “New Year, New … Privacy Program?” attorney Heather Buchta suggests now is a good time for businesses to consider refreshing their privacy programs as this month marks the relatively new holiday of Data Privacy Day.
Clean energy looks to become another powerful “C” for our economy, and In Business Magazine editor RaeAnne Marsh shares an update from a recent roundtable that involved many companies leading the charge to establish Metro Phoenix as a hub for that sector, in Briefs article “Arizona’s Clean Energy Scorecard.”
This edition also offers the annual Meetings & Conventions Guide. This guide is full of resources for businesses when planning major meetings and conventions in the Greater Phoenix area. Our annual guide provides some of the key features of each of the venues and spaces so that companies can compare and make decisions to meet their needs right here, in their own backyard.
Startups, healthcare, leadership, commercial real estate – In Business Magazine has a panoramic focus on keeping the business community informed on new activity, new insights and best practices. Here’s to a great 2024 for our business community.
Sincerely,
Rick McCartney
Publisher, In Business Magazine
President & CEO, InMedia Company
Rick McCartney is president and CEO of InMedia Company, a media technology company, and is responsible for producing many local, regional and national brands and media products. He is the publisher of In Business Magazine, which has been publishing in the Greater Phoenix area since 2011. In 2024, In Business Magazine will be expanding into both additional cities, and with the production of the “In Business Weekly TV Show”.
