ACA Wins Economic Development Award Recognizing Innovative Workforce Training Centers

Business Facilities recognized Arizona’s Future48 Workforce Accelerators

For the second year in a row, Arizona and the Arizona Commerce Authority (ACA) are being recognized for innovative economic development initiatives. Business Facilities Magazine recently announced the Arizona Commerce Authority as one of six state winners of its second annual Economic Development Organization (EDO) Awards, recognizing Arizona’s Future48 Workforce Accelerator … [More]

Home Prices Hit Another Record High, Pushing Pending Sales Down 4%, Says Report

Prices keep rising because this spring’s inventory is lower than usual. The sliver of good news for buyers is that mortgage rates have declined slightly

The median U.S. home-sale price hit a record $387,600 during the four weeks ending May 19, up 4% from a year earlier. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Weekly average mortgage rates dipped to 7.02% from a five-month high of 7.22% at the start of the month, bringing the median monthly housing payment to $2,854, roughly … [More]

Last Year’s Phoenix Open Raises Record $17.5 Million for Arizona Charities

The Thunderbirds – hosts of the WM Phoenix Open presented by Taylor Morrison – announced the 2024 edition of “The People’s Open” raised a tournament record $17.5 million ($17,521,024) for Arizona charities.  This marks the seventh time in tournament history The Thunderbirds and the WM Phoenix Open have raised more than $10 million for charity in a single tournament.  The … [More]

Arizona Is a Top Ten State with the Biggest Business Market Growth over the Last Decade

New research has found that Arizona has seen some of the biggest increases in new businesses in the U.S. over the last ten years compared to every other state. Arizona places tenth seeing an overall business market growth of 112.7% over the past decade. The study conducted by business formation experts CreditDonkey analyzed the number of business applications submitted … [More]

New Canadian Trade Office Established in Arizona to Increase Trade, Economic Development

Arizona Governor Katie Hobbs and Canadian Trade Minister Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced the establishment of a new Canadian trade office in Arizona. The Canadian Ministry of Foreign Affairs will be opening a new trade office in Arizona, which will strengthen the bilateral relationship between Arizona and Canada, … [More]

Microfinance Nonprofit Opens New Branch in Phoenix with Support from Wells Fargo

Grameen America, the fastest-growing nonprofit microfinance organization in the United States, announced the opening of its new branch location in Phoenix, Arizona with major philanthropic support from the Wells Fargo Foundation. To expand access to affordable capital for women entrepreneurs, Wells Fargo made a $3.25 million grant over three years to help Grameen America expand … [More]

The Sun Belt Is Seeing Some of the Biggest Rent Declines in America

Nationwide, the median asking rent rose 1% to $1,648 in April—the first increase in a year

The median asking rent in Seattle fell 7.3% year over year in April, according to a new report from Redfin, the technology-powered real estate brokerage. That’s the biggest drop among the U.S. metros Redfin analyzed. Next came nine Sun Belt metros: Austin, TX (-6.6%), Nashville, TN (-5.9%), Jacksonville, FL (-5.6%), Miami (-5%), San Diego (-4.7%), Phoenix (-4.6%), Charlotte, … [More]

Commercial Real Estate Sentiment Rebounds, Says NAIOP Index

The NAIOP CRE Sentiment Index, a key forecast of commercial real estate market conditions over the next 12 months, has increased significantly from the last survey in fall 2023. The Index rose to 52, from 46 in September, indicating that respondents expect conditions for commercial real estate development to be somewhat better over the next year. The NAIOP CRE Sentiment … [More]

Housing and Homelessness Are Major Issues for Arizona Voters; Strong Desire for State and Local Government to Do More

The 2024 Arizona Voters’ Agenda reveals voters want elected leaders to do more to deliver solutions

Center for the Future of Arizona (CFA)– a nonpartisan, nonprofit organization with a mission to bring Arizonans together to create a stronger and brighter future for the state– unveiled new survey data on housing from its 2024 Arizona Voters' Agenda. The findings reflect the views of likely Republican, Democratic, and independent/unaffiliated voters of all ages and highlight … [More]

Kohler Opens State-of-the-Art Manufacturing Facility in Casa Grande, Creating 400 Full-Time Jobs

Kohler Co., a global leader in kitchen and bath products headquartered in Kohler, Wisconsin, officially opened the doors to its new manufacturing facility in Casa Grande, Arizona, with a ceremonial ribbon-cutting event hosted by company leadership. Among those in attendance were Arizona Governor Katie Hobbs, some of the new Kohler associates filling more than 400 full-time … [More]

Investor Home Purchases Rise for the First Time in Nearly Two Years

Real estate investors bought 19% of U.S. homes that sold in the first quarter—the highest share in almost two years

Real estate investors bought roughly 44,000 U.S. homes in the first quarter of 2024, up 0.5% from a year earlier—the first increase since the second quarter of 2022. That is according to a new report from Redfin, the technology-powered real estate brokerage. Investor activity in the housing market is stabilizing following several years of dramatic ups and downs. Investor … [More]

Large Majority of Arizona Voters Want Bipartisan Solutions to Border Crisis; Immigration Reform

Center for the Future of Arizona (CFA), a nonpartisan, nonprofit organization with a mission of bringing Arizonans together to create a stronger and brighter future for the state, released findings today from its Arizona Voters' Agenda related to the topic of immigration. From survey research of likely Republican, Democratic, and independent/unaffiliated voters of all ages, the … [More]

Arizona Voters Want Better Planning for Future Growth; Firm Against Cuts to Core Services

The 2024 Arizona Voters’ Agenda findings highlight a clear call for leadership and sustainable solutions

Center for the Future of Arizona (CFA) unveiled key findings on the views of voters regarding state spending issues as part of its ongoing reveal of the 2024 Arizona Voters' Agenda. Through nonpartisan survey research of Republican, Democratic, and independent/unaffiliated voters of all ages, the Voters' Agenda identifies what likely voters agree on and prioritize. The new … [More]

New Terminal Coming to Sky Harbor, Not Anticipated to Begin until After 2030

Phoenix Mayor Kate Gallego and members of the Phoenix City Council heard plans to build a new terminal at Phoenix Sky Harbor International Airport. With more than 48 million passengers in 2023 and passenger numbers continuing to grow, a new terminal is necessary to meet passenger demand and maintain a high level of service. “Phoenix Sky Harbor is busier than ever, which is … [More]

ACA Launches New Tools to Support Arizona Small Businesses with Loan Guarantee Program

New loan guarantee and technical assistance programs available for small businesses

Access to capital ranks as one of the largest barriers facing small business owners. To promote small business stability, growth, and success, especially among entrepreneurs from underserved communities, Governor Hobbs and the Arizona Commerce Authority (ACA) have partnered with community financial institutions and mentors to launch a new suite of small business support … [More]

Record-High Monthly Payments Chill Spring Home Selling Season, Declining Rates Could Boost Activity

High home prices and rates sent home sellers and buyers to the sidelines in April and the start of May—but last week’s encouraging economic news drove mortgage rates down a bit

The median U.S. monthly housing payment hit an all-time high of $2,894 during the four weeks ending May 5, up 14% from a year earlier, and home prices rose 4.5% to their own record high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The supply of homes for sale lost momentum, with prospective sellers jittery about high … [More]

Majority of Arizona Voters Agree on Key Issues Ahead of Elections

2024 Arizona Voters’ Agenda illuminates voters’ priorities and big questions for candidates

Center for the Future of Arizona (CFA) announces the release of the 2024 Arizona Voters' Agenda, developed from a new statewide survey of likely Republican, Democratic, and independent/unaffiliated voters of all ages. This vital initiative identifies the issues voters agree on across political and generational lines to inform election discourse. CFA will release the Arizona … [More]

Small Business Job Openings Rise in April

Unfilled job openings increase as labor market remains tight

According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021. The percent of small business owners reporting labor cost as their top small business operating problem increased one point from March to 11%, only two … [More]

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