Mat Ishbia Assumes Controlling Ownership in the Phoenix Suns and Phoenix Mercury

inbusinessPHX.com

Following NBA Board of Governors approval, Mat Ishbia has completed the acquisition of the controlling ownership interest in the Phoenix Suns (NBA) and Phoenix Mercury (WNBA) franchises, the operating entity for Footprint Center and affiliated entities. With the transaction, Mat becomes Governor of the Suns and Mercury while Justin Ishbia, CEO and Founder of Shore Capital … [More]

Phoenix Children’s Announces Expansion at Thomas Campus

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Phoenix Children's, one of the nation's fastest-growing pediatric health systems, announced a series of expansion projects at Phoenix Children's Hospital – Thomas Campus totaling 212,000 square feet to increase the amount of clinical space, inpatient beds and clinical exam rooms. The campus-wide expansion is part of the health system's long-range plans to meet the healthcare … [More]

Phoenix Children’s and Cigna Reach Tentative Agreement

inbusinessPHX.com

Phoenix Children’s and Cigna announced the two organizations reached a tentative agreement as contract discussions continue. While the contract is being finalized, Phoenix Children’s remains an in-network provider for families with Cigna employer-sponsored health coverage. “Phoenix Children’s is steadfast in our commitment to provide the highest quality healthcare to our … [More]

Small Business Job Openings Back Up in January, Says Report

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According to NFIB’s monthly jobs report, 57% of owners reported hiring or trying to hire in January, up two points. Of those hiring or trying to hire, 91% of owners reported few or no qualified applicants for the positions they were trying to fill. Twenty-seven percent of owners reported few qualified applicants for their open positions and 25% reported none. “The labor … [More]

U.S. Employers Added 517,000 Jobs in January, Dropping the Jobless Rate to Its Lowest Level since 1969

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers … [More]

Hyatt to Rebrand Hyatt Regency Scottsdale at Gainey Ranch

inbusinessPHX.com

Hyatt Hotels Corporation announced the planned rebranding of Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch to Grand Hyatt Scottsdale Resort & Spa in late 2024, which will mark the first Grand Hyatt hotel in Arizona. The hotel’s ownership group, Xenia Hotels and Resorts, plans to invest approximately $110 million to fully transform the property into a Grand Hyatt … [More]

Arizona Golf Industry Creates $6B Economic Impact while Using Only 2% of the State’s Water to Serve 16.6 Million Rounds

inbusinessPHX.com

A study released today estimated Arizona’s golf industry produced $6 billion in economic activity while using only 2% of daily statewide water to serve 16.6 million golf rounds in 2021. This economic output supported nearly 66,200 jobs, provided $2.3 billion in wages and generated $518 million in state and local tax revenues. “The positive impact to our community provided by … [More]

Cancer Hospital to Rebrand One Year After Acquisition

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City of Hope, one of the largest cancer research and treatment organizations in the United States, today announced that its subsidiary, Cancer Treatment Centers of America® (CTCA), will fully transition its clinical locations to City of Hope's brand. CTCA locations in different cities will now be called City of Hope Phoenix, City of Hope Atlanta, and City of Hope Chicago. In … [More]

Mobile Carrier’s Big Game Upgrades Boost Network Permanently across Phoenix

inbusinessPHX.com

The Un-carrier has sports fans covered with permanent ultra-fast 5G upgrades across the Greater Phoenix area. T-Mobile  announced 5G coverage and capacity enhancements for the Big Game and the Phoenix Open, amping speeds by 10x inside State Farm Stadium and by 4x across the region. The permanent upgrades will better serve T-Mobile smartphone and Home Internet customers for the … [More]

Fresh Off Merger with Arizona Grantmakers Forum, Alliance of Arizona Nonprofits Looks to Expand Impact

inbusinessPHX.com

The newly merged Alliance of Arizona Nonprofits and Arizona Grantmakers Forum have implemented several changes and enhancements in the new year to expand the organization’s impact in the nonprofit community. In August, the Alliance announced that Kristen Merrifield, previously CEO for Alliance of Arizona Nonprofits, would become the CEO for the newly merged organization and … [More]

Nikola Introduces New Hydrogen Energy Brand ‘HYLA’

inbusinessPHX.com

Nikola Corporation, a global leader in zero-emission transportation and energy supply and infrastructure solutions, announced at a special event today that it has created a new global brand, HYLA, to encompass the company's energy products for producing, distributing and dispensing hydrogen to fuel its zero-emissions trucks. More than 300 fleet, government, supplier, energy and … [More]

$850M Iconic Metrocenter Mall Redevelopment Project to Begin Immediately

inbusinessPHX.com

Concord Wilshire Capital and TLG Investment Partners, in partnership with Carl DeSantis’ CDS International Holdings Inc., announced today that the acquisition of the Metrocenter Mall, including the Dillard’s Building and U-Haul Building (formerly Macy’s Building) has closed. The transaction was completed with no mortgage financing on the property and will pave the way for … [More]

SEMICON West Shifts to October in 2024, Begins Annual Rotation with Phoenix in 2025

inbusinessPHX.com

A fixture in the San Francisco Bay Area for more than 50 years, SEMICON West is moving to Phoenix for a five-year annual rotation starting in 2025 and shifting from its longstanding July event dates to October beginning in 2024, SEMI announced today. The event, North America’s premier microelectronics exhibition and conference, will be held again in Arizona in 2027 and 2029, … [More]

Home Prices Post Small Increase as Mortgage-Rate Drop Attracts Buyers, Phoenix Prices Fell 3.7%

inbu

Redfin Reports Home Prices Post Small Increase as Mortgage-Rate Drop Attracts Buyers An increase in home searches and tours at the end of 2022 is starting to translate into purchases as mortgage rates fall. Mortgage applications are up 25%, and the slowdown in pending sales is easing. The median U.S. home-sale price increased 0.9% from a year earlier to … [More]

Higher Ed Meets Hollywood: ASU-Incubated VR Company Raises $20M to Transform STEM Education

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Dreamscape Learn announced a $20 million Series A investment by backers including Bold Capital Partners, GSV Ventures, Verizon Ventures, and Cengage Group. Built in collaboration with Arizona State University (ASU), the company develops immersive learning experiences that blend innovative pedagogy with the emotional power of cinematic storytelling. "When I … [More]

Rents Rising Faster Than Home Prices in Almost Half the U.S., Not in Maricopa County

inbusinessPHX.com

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its 2023 Rental Affordability Report, which shows that the average three-bedroom rent is more affordable than owning a comparably sized median-priced home in 210, or 95 percent, of the 222 U.S. counties analyzed for the report. Both renting and owning a … [More]

Recap: Governor Hobbs Fiscal Year 2024 Executive Budget Released

inbusinessPHX.com

Governor Katie Hobbs released her executive budget priorities with a focus on lowering costs, investing in public education, securing the state’s water future, tackling the affordable housing crisis and more. “We have an opportunity to make a significant change in the lives of the families and communities of this state. We are committed to facing our challenges head on to … [More]

Consumer Prices Rose 6.5%, Showing Inflation Continues to Ease

inbusinessPHX.com

The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment. The index for gasoline was by far the largest contributor to … [More]

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