Nikola Corporation announced its intention to file a Form 25 Notification of Delisting with the Securities and Exchange Commission (the "SEC") on or about April 3, 2025, which will remove its securities from listing and registration on Nasdaq. Nasdaq previously suspended the trading of Nikola's common stock at the opening of business on February 26, 2025 and notified Nikola … [More]
Microchip Engages Firm to Facilitate Sale of Tempe Facility on Heels of Manufacturing Restructuring Plan
Microchip Technology announced it has engaged Macquarie Group to oversee the marketing and sale of its wafer fabrication facility (“Fab 2”) located in Tempe, Arizona. This decision is part of Microchip's previously announced manufacturing restructuring plan supporting its strategic goal of enhancing operational efficiency and profitability. The Fab 2 site, which … [More]
Governor Travels to Taiwan for Diplomatic, Business Meetings
Governor looks to capitalize on forward momentum in semiconductor industry
Governor Katie Hobbs is traveling in Taiwan for a diplomatic and business trade mission. During the trip, the Governor is meeting with Taiwanese President Lai Ching-te, executives from the TSMC management team, and cutting-edge tech companies to reinforce the mutually beneficial relationship between Taiwan and Arizona and capitalize on the forward momentum in Arizona’s … [More]
Fewer Multifamily Permits Today Could Mean Costlier Rents Ahead
Rents have been on a decline in the top 50 metros for over a year, but low multifamily permitting activity is making way for higher rent prices, according to the Realtor.com® February rent report. In fact, within the top 50 metros only 294,000 multifamily units were permitted in 2024, which is well below the 318,000 units permitted at the peak of the pandemic in … [More]
Public Universities’ Workforce Development and Research Fuel Arizona’s Economic Growth
Investment, research and high-skilled talent position state as tech and bioscience leader
Advancing Arizona’s financial future hinges on strategic investments in capital, talent and innovation, a key theme of the Arizona Fund Manager Association’s LIFT AZ 2025 symposium and panel discussion at the event led by Arizona Board of Regents member Jessica Pacheco. The event united investors and higher education leaders to explore how Arizona can attract and retain top … [More]
Phoenix Ranks Fourth among North American Data Center Markets
North American data center demand surged last year, driving a record amount of construction, with Phoenix boasting some of the highest average asking rates ($170 – $210) for 250-500 kilowatt (kW) per month, according to CBRE’s latest North American Data Center Trend Report. Phoenix’s total inventory increased to 602.8 megawatts (MW) (a 67% increase year over year), ranking … [More]
Battery Market Leader to Establish North American Headquarters and Battery Facility in Phoenix
Representing a $20 million investment, the new facility will create 50 new jobs.
Eternity Technologies Inc., a global leader in the industrial battery market, announced the selection of Phoenix, Arizona, as the site of its new North American headquarters and cutting-edge battery manufacturing facility. This milestone investment underscores Eternity’s commitment to delivering world-class solutions for Motive Power and Reserve Power applications … [More]
ACA Awards $2M to Arizona WearTech and Other Applied Research Centers
The Partnership for Economic Innovation, a passionate collective of business and community leaders dedicated to accelerating Arizona’s economic opportunities, announced that the Arizona Commerce Authority had awarded $2 million to support seven new applied research projects through its WearTech and Other Applied Research Centers. State funding matches $2.2 million in private … [More]
Small Business Optimism Recedes in February, Says Survey
The NFIB Small Business Optimism Index fell by 2.1 points in February to 100.7. This is the fourth consecutive month above the 51-year average of 98 and is 4.4 points below its most recent peak of 105.1 in December. The Uncertainty Index rose four points to 104 – the second highest recorded reading. “Uncertainty is high and rising on Main Street, and for many reasons,” said … [More]
ASU, City of Phoenix Announce Site of $200M ASU Health Headquarters
Arizona State University (ASU) and the City of Phoenix have officially announced the location for the ASU Health headquarters, marking a major step forward in the university’s expansion into medical education. The new facility will be built in downtown Phoenix within the Phoenix Bioscience Core, on a one-acre triangular lot bordered by Fourth and Fifth to the east and west; and … [More]
More Owners Report Labor Costs as a Top Business Problem, Hiring Challenges Continue
NFIB’s February jobs report found that 38% (seasonally adjusted) of small business owners reported job openings they could not fill in February, up three points from January and the highest reading since August 2024. A seasonally adjusted net 15% of owners plan to create new jobs in the next three months, down three points from January. “Over half of Main Street firms … [More]
U.S. to Hold Over 20% of Advanced Semiconductor Capacity by 2030, Arizona Playing Key Role
TrendForce’s latest findings reveal that Taiwan Semiconductor Manufacturing Company (TSMC) has announced it’s increasing investment in U.S. advanced semiconductor manufacturing, bringing the total to US$165 billion. Mass production is expected to begin after 2030 if the three newly planned fabs proceed on schedule. The U.S., which has been actively expanding its advanced … [More]
TSMC to Build Additional Three Fabs, Two Advanced Packaging Facilities, and R&D Center in Arizona
Following a meeting at the White House, TSMC Chairman and CEO C.C. Wei announced a historic expansion of TSMC’s advanced semiconductor operations in Arizona. TSMC will invest at least an additional $100 billion to build three additional semiconductor fabs in Arizona as well as two advanced packaging facilities and a major R&D Center. The investment comes in addition to … [More]
TSMC Intends to Expand Its Investment in the U.S. to $165 Billion to Power the Future of AI
TSMC announced its intention to expand its investment in advanced semiconductor manufacturing in the United States by an additional $100 billion. Building on the company’s ongoing $65 billion investment in its advanced semiconductor manufacturing operations in Phoenix, TSMC’s total investment in the U.S. is expected to reach $165 billion. The expansion includes plans for three … [More]
Mayo Clinic Announces Transformative $1.9B Investment in Arizona, Reimagining Healthcare
Mayo Clinic announced a nearly $1.9 billion investment in the continued transformation of its Phoenix campus as part of its Bold. Forward. strategy to Cure, Connect and Transform healthcare for the benefit of patients everywhere. Bold. Forward. Unbound. in Arizona will enable new innovative care concepts, physical spaces and integrated technologies to create seamless care … [More]
Steak 44 Acquires Durant’s, Plans Temporary Closure for Renovations
Local steak lovers will see a temporary shake-up in their dining plans as Durant's, a longtime favorite, has been acquired by the acclaimed Steak 44 and Ocean 44 restaurant group, by brothers Mike and Jeffrey Mastro, along with their father Dennis Mastro and business partner Scott Troilo. The transition will bring a fresh new era for the beloved establishment, but not without a … [More]
Rehabilitation Hospital in Florida Extends Its Footprint by Adding a Facility on Mayo Clinic’s Phoenix Campus
Brooks Rehabilitation, nationally acclaimed for its expertise in treating life-changing injuries and complex medical conditions, held a groundbreaking ceremony for its new cutting-edge, 80,000-square-foot inpatient rehabilitation hospital on Mayo Clinic’s Phoenix campus. Ranked by U.S. News & World Report as the No. 1 rehabilitation hospital in Florida and among the top 20 … [More]
Phoenix Maintains Momentum as Nation’s Industrial Leader, Says Report
Phoenix solidifies its reputation as the nation’s industrial powerhouse, with 32.6 million square feet of industrial space under construction and a thriving medical office market driving commercial real estate demand, according to LGE Design Build’s newly released Q4/Q1 Construction Delivery Outlook report. “Phoenix continues to lead as a dynamic hub for industrial … [More]
