Intel Corporation and the Biden-Harris Administration announced that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. The award will support Intel’s previously announced plans to advance critical … [More]
Arizona Utilities Plan to Join Markets+ to Strengthen Grid Reliability and Resilience
Customers to benefit from more savings, greater resource diversity and expanded transmission pathways
Arizona Public Service (APS), Salt River Project (SRP), Tucson Electric Power and UniSource Energy Services announced plans to join Southwest Power Pool’s (SPP) Markets+, a day-ahead and real-time energy market that is anticipated to span through the northwest, southwest and mountain west regions of the U.S. The new market is expected to bring enhanced reliability and savings … [More]
Investor Home Purchases Plateau after a Pandemic-Era Rollercoaster Ride, Phoenix Fared OK
Real estate investors purchased 2.3% fewer homes in the third quarter than they did a year earlier, according to a new report from Redfin, the technology-powered real estate brokerage. The small size of the change is notable because it comes after four years of huge swings driven by the wild pandemic-era housing market. For instance, investor purchases surged as much as 144% … [More]
ASU and Deca Technologies Selected to Lead $100M SHIELD USA Project to Strengthen U.S. Semiconductor Packaging Capabilities
The National Institute of Standards and Technology — part of the U.S. Department of Commerce — announced today that it plans to award as much as $100 million to Arizona State University and Deca Technologies for the SHIELD USA initiative. The project will drive innovation in the domestic microchip packaging ecosystem, expand capacity for domestic advanced packaging and help … [More]
APS Secures Largest-Ever Energy Supply to Reliably Serve Customers and Growth
Enough electricity to power nearly 1.4 million air conditioners at the same time
Arizona Public Service (APS) has signed agreements to add new energy supplies to its energy mix – APS’s largest-ever planned addition of new power sources. In all, APS will add nearly 7,300 megawatts (MW) of renewable power, battery energy storage and natural gas to meet the state's growing demand for energy. Picture this, that’s enough electricity to run nearly 1.4 million air … [More]
TSMC and Arizona Leaders Announce New Semiconductor Career Pathways
Reinforcing a commitment to invest locally in new pathways into the semiconductor industry, today TSMC Arizona was joined by Governor Katie Hobbs and Mayor Kate Gallego to announce the expansion of its Registered Technician Apprenticeship program. This announcement comes at the start of National Apprenticeship Week, and alongside a one-day Governors Apprenticeship Innovation … [More]
Phoenix among North America’s Top 30 Tech Hubs, Says Report
Tempe remains the Valley’s premier tech submarket
Phoenix ranks among the top North American tech markets for office leasing activity this year, registering gains in both office rents and tech jobs,, according to CBRE’s annual Tech-30 report. Phoenix proved to be resilient even though it posted negative net absorption, a proxy for office demand, from last year's third quarter to this year's second quarter. Net absorption … [More]
SRP and EDP Renewables Announce New Energy Storage System to Support Increasing Energy Demand
Salt River Project (SRP) and Flatland Storage, a subsidiary of EDP Renewables North America have entered into an agreement to provide 200 megawatts (MW) of new energy storage to Arizona's grid. The Flatland Energy Storage Project will be a 200 MW/800 megawatt-hour battery energy storage system located near Coolidge, Arizona. The project will utilize lithium-ion technology, … [More]
CHIPS Incentives Award TSMC Arizona $6.6B to Secure U.S. Leadership in Advanced Semiconductor Technology
Friday, the Biden-Harris Administration announced that the U.S. Department of Commerce awarded TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), up to $6.6 billion in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. The award comes after the previously … [More]
Governor Announces Launch of Semiconductor-Focused Future48 Workforce Accelerator in Phoenix
Governor Katie Hobbs today announced the launch of a semiconductor-focused Future48 Workforce Accelerator at GateWay Community College in Phoenix. Once complete, the training facility will offer customized, hands-on training in support of the state’s rapidly expanding semiconductor industry. It will feature state-of-the-art manufacturing … [More]
Governor Encourages Next Generation of Technology and Transportation at Celebration of Innovation Awards
In her continuing commitment to fostering innovation throughout the state, supporting entrepreneurs, and working with private sector partners, Governor Katie Hobbs announced key actions to advance Arizona’s leadership in technology. At the Governor’s Celebration of Innovation Awards, in a speech outlining her framework for Emerging Tech in Arizona and key focus areas, … [More]
Grand Hyatt Scottsdale Resort Debuts $115M Renovation
Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch has transitioned to the first Grand Hyatt hotel in Arizona
Hyatt Hotels Corporation announced Grand Hyatt Scottsdale Resort has completed its highly anticipated $115 million property-wide renovation. The property, formerly known as Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, marks the first Grand Hyatt hotel in Arizona. The newly reimagined luxury resort invites guests to connect with the captivating spirit of the … [More]
Main Street Owners Feel More Confident as They Enter the Holiday Season; Arizona Voters Go Pro-Small Business
The NFIB Small Business Optimism Index rose by 2.2 points in October to 93.7. This is the 34th consecutive month below the 50-year average of 98. The Uncertainty Index rose seven points to 110, the highest reading recorded. A seasonally adjusted net negative 20% of small business owners reported higher nominal sales in the past three months, the lowest reading since July … [More]
Chandler-Based Manufacturer Becomes Employee-Owned Company with ‘Arizona ESOP Day’ Declaration
In a landmark announcement, Chandler-based Kovach Enclosure Systems unveiled its transition to an employee-owned company through the establishment of an Employee Stock Ownership Plan (ESOP). This significant development was celebrated during an all-company event at SOHO63 in Downtown Chandler, marking a new chapter in Kovach’s rich history. Kovach’s announcement also was … [More]
Local Development Co. Acquires Full Ownership of Biltmore Fashion Park, Unveils Redevelopment Plans for Iconic Arizona Landmark
RED Development, an industry-leading commercial real estate company renowned for its high-performing mixed-use and retail portfolio, is unveiling its plans for the future of Biltmore Fashion Park, Arizona’s first luxury outdoor shopping and dining destination after acquiring full ownership of the iconic landmark this summer, featuring a new mixed-use development and design … [More]
Maricopa County Voters Invest in Progress: Passage of Proposition 479 Represents a Milestone Reached for Regional Transportation
After years of regional planning and unanimous support from the region’s leaders, Maricopa County voters have chosen continued progress with the passage of Proposition 479, a measure that will continue the dedicated half-cent sales tax for transportation for another 20 years. First passed in 1985, the dedicated tax has funded critical transportation infrastructure in … [More]
Annual Home Price Slowdown Continues, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index and HPI Forecast for September 2024. U.S. home price growth continued to cool, slowing to a 3.4% year-over-year in September. Compared to with the month prior, home prices rebounded to post a very slight uptick (0.02%) following … [More]
Vote In-Person or Drop Off Your Early Ballot; Here Are Some Links to Information
In-person voting began on October 9, 2024, and will continue through Election Day, Tuesday, November 5, 2024. Individuals who wish to vote in person can visit any voting location. On Election Day, Tuesday, November 5, 2024, voting locations will be open to voters from 6 AM to 7 PM. Locations are designated throughout the county and are found by … [More]
