Returns on Single-Family Rental Homes Decreasing, Says Report

inbusinessPHX.com

ATTOM, a leading curator of real estate data nationwide for land and property data, today released a new Single-Family Rental Market report showing that profit margins on 3-bedroom single-family home rentals are declining annually in 2022 across most of the United States, and are slightly more likely to decline in areas that already have lower yields. The … [More]

Sellers Rushing to Find Buyers Before Demand Weakens Further, Report Shows

Redfin

Demand for homes is falling, but homes are still selling fast as the buyers who remain rush to beat rapidly rising Homebuyers may finally start to notice signs that the market is shifting toward their favor, as more sellers came to the market during the four weeks ending May 15, according to a new report from Redfin, the technology-powered real estate brokerage. New listings … [More]

Phoenix Children’s Launches Corporate Venture Studio in Partnership with Coplex

inbusinessPHX.com

Phoenix Children’s, one of the nation’s largest pediatric health systems, recently announced a partnership with Coplex, a leading venture studio and corporate innovation firm, to launch six new health care technology startups over the next three years. “We’re honored to partner with Phoenix Children’s because its mission is something we care deeply about and the pediatric … [More]

Opendoor Expands Presence In Arizona With Creation of Regional Hub In Tempe

inbusinessPHX.com

Opendoor, a leading digital platform for residential real estate, is doubling down on its commitment to Arizona, opening a 100,807-square-foot space in Tempe to serve as the company’s regional hub. The space is the company’s largest office, supporting over 500 jobs. “Opendoor’s substantial investment proves once again Arizona is the best place in the country for technology … [More]

Lucid Advances Global Sustainability Vision, Announcing New Details for First Overseas Manufacturing Facility with Partners in Saudi Arabia

inbusinessPHX.com

Lucid Group, Inc., setting new standards with the longest-range, fastest-charging electric car on the market with the award-winning Lucid Air, today hosted a ceremonial signing event to mark the February 2022 agreements with the Ministry of Investment of Saudi Arabia ("MISA"), the Saudi Industrial Development Fund ("SIDF"), Emaar, The Economic City, at King Abdullah Economic … [More]

Homebuyer Competition Falls for Second-Straight Month, Hitting Lowest Level in Over a Year

Redfin

Nationwide, 60.7% of home offers written by Redfin agents encountered competition on a seasonally adjusted basis in April, the lowest level since March 2021, according to a new report from Redfin, the technology-powered real estate brokerage. That’s down from a revised rate of 63.4% a month earlier and 67.4% a year earlier, and marks the second-consecutive monthly … [More]

Li-Cycle Opens Lithium-Ion Battery Recycling Facility in Gilbert

inbusinessPHX.com

Li-Cycle Corp., an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that its previously announced Arizona Spoke facility located in Gilbert, Arizona has commenced commercial operations. Arizona presents a significant opportunity for lithium-ion battery recycling due to the emerging electric … [More]

Flinn-Brown Fellowship Leaders Named

inbusinessPHX.com

The Arizona Center for Civic Leadership at the Flinn Foundation has selected the 2022 Flinn-Brown Fellows, 27 leaders who will participate in Arizona’s most prestigious leadership program on state policy and politics. Members of the 14th cohort of Flinn-Brown Fellows, bringing together diverse political perspectives, experience, and policy interests, currently serve in … [More]

APS Adding New Clean Energy Resources to Power Historic Growth in Arizona

inbusinessPHX.com

As more people and companies move in record numbers to the state, Arizona Public Service Co. (APS) customers will have cleaner electricity to power their lives and businesses through a new 2022 All Source Request for Proposals (RFP). Since announcing its Clean Energy Commitment in 2020, the utility is adding more than one gigawatt (GW) of clean energy resources to its diverse … [More]

Mayor Gallego Announces Blue Bank to Foster Innovation in Water Conservation

inbusinessPHX.com

Mayor Kate Gallego and members of the Phoenix City Council have voted unanimously to make new funding available to companies interested in using a leading-edge technology to save water and protect the environment. The new 'Blue Bank' is a partnership between the city, the New Venture Fund's BlueCommons project, and the Bonneville Environmental Foundation's Business for Water … [More]

Four Arizona Energy Providers and the State’s Three Public Universities Form a New Coalition

inbusinessPHX.com

Four Arizona energy providers and the state’s three public universities are forming a new, interdisciplinary coalition with the goal of attaining a carbon neutral economy in Arizona. Faced with the complexity of reducing carbon dioxide (CO2) emissions across economic sectors, and the urgency to respond to the climate crisis, this coalition will combine its expertise to launch a … [More]

Inflation Moderates in April, Annual 8.3% Remains High

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment. Increases in the indexes for shelter, food, airline fares, and new … [More]

Waymo Seeking Testers for Downtown Phoenix Trusted Tester Program

inbusinessPHX.com

Waymo is taking the next step in their multi-geo operations and launching the Waymo One Trusted Tester program in Downtown Phoenix. This marks the third area, in addition to the Phoenix East Valley and San Francisco, where we’ll be providing rides to members of the public with our autonomous ride-hailing service. A few refreshers on the Trusted Tester program and how it will … [More]

Small Business Expectations for Better Business Conditions at Record 48-Year Low

NFIB

The NFIB Small Business Optimism Index was unchanged in April, remaining at 93.2 and the fourth consecutive month below the 48-year average of 98. Small business owners expecting better business conditions over the next six months decreased one point to a net negative 50%, the lowest level recorded in the 48-year-old survey. Inflation continues to be a problem for … [More]

April Housing Report: Inventory Readies to Rebound

Realtor.com

In April, the U.S. supply of active listings posted the smallest year-over-year decline (-12.2%) since the end of 2019, led by gains in the share of mid-sized homes New data suggests that the U.S. housing supply is readying to rebound, as active listings posted the smallest year-over-year declines (-12.2%) since December 2019, according to the Realtor.com® … [More]

Colorado River Water Shortage Caused by Climate Change Will Require Phoenix and Phoenicians to Adapt

inbusinessPHX.com

At their briefing on Friday, May 6, officials with the U.S. Department of the Interior, Arizona Department of Water Resources, and Central Arizona Project delivered a stark assessment of the Colorado River. As impacts of climate change persist, more significant Colorado River cuts are likely to occur. Those reductions will impact the amount of Colorado River water available … [More]

SeatGeek Teams Up with the Fiesta Bowl as Its Official Ticketing Partner

inbusinessPHX.com

SeatGeek, the technology platform transforming the live-event experience for fans, teams, and venues, today announced a multi-year partnership with the Fiesta Bowl. Grab your bolo tie and sunscreen because the party in the Grand Canyon State starts this New Year’s Eve, 2022. As the Fiesta Bowl’s Official Primary Ticketing Partner, fans will use SeatGeek’s mobile app to buy … [More]

Arizona Celebrates National Small Business Week: Here Are Some Stats

Arizona Commerce Authority

Arizona is celebrating National Small Business Week through May 7, 2022. Arizona is home to 611,097 small businesses, representing 99.5% of Arizona businesses. The 1.1 million small business employees in Arizona represent 42.9% of the state’s employees, according to the most recent U.S. Census Bureau data. Arizona small business employment grew by 44.4% between 1994 and … [More]

U.S. Employers Added 428,000 Jobs in April, Average Hourly Earnings Rose 5.5%

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, in manufacturing, and in transportation and warehousing. This news release presents statistics from two monthly surveys. The … [More]

Open Positions, Labor Quality Continue to Plague Small Businesses, Says Jobs Report

NFIB

Small business owners continue to attempt to fill historically high levels of open positions, according to NFIB’s monthly jobs report. Twenty-three percent of owners said that labor quality was their top business problem, up one point from last month and in second place behind inflation. Eight percent of owners cited labor costs as their top business problem. Reports of labor … [More]

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