With 2023 already halfway over, small businesses are looking for help to grow to end the year on a strong note. As of July 2023, the Small Business Administration has approved more than 40,000 SBA loans worth more than $19 billion. As a local small business expert and owner of Phoenix FranNet, I'm here to discuss what impact these loans will have in the local market regarding … [More]
Valley-Based Golf Club Co. Gives $1M Donation to Help Relief Efforts for Maui Disaster
PXG, an Arizona company dedicated to developing the world’s finest golf equipment and apparel, today announced a one-million-dollar donation to Team Rubicon, a veteran-led disaster relief organization. The funds will support Team Rubicon’s ability to provide immediate support in Maui, Hawaii. By pairing the skills and experiences of military veterans with first responders, … [More]
Five Homebuilders Named for New Master-Planned Community Near Eastmark
Blossom Rock at Superstition Vistas unveils The First Builders For Its Majestic New East Valley Community - The Phase One Builders include Lennar Homes, David Weekley Homes, Pulte Homes, Tri Pointe Homes, and Brookfield Residential Scottsdale-based Brookfield Residential announced five of the Valley’s top homebuilders are planning and designing the first single-family homes … [More]
Asking Rents Are Inching Closer to Their Record High, Says Report
The median U.S. asking rent in July was $2,038, just $16 below the record high set in August 2022. That’s according to a new report from Redfin, the technology-powered real estate brokerage. While rents are just shy of their all-time high, rent growth remains sluggish. The median asking rent was up just 0.3% from a year earlier in July, compared with a 13.6% annual gain in … [More]
Rapid Population Growth, Collaborative Training Programs Power Arizona’s Premier Semiconductor Workforce
For more than 70 years, Arizona has stood at the forefront of semiconductor design, development, and production. The future looks even brighter. Industry leaders have announced more than $60 billion in investment since 2020, the most of any state, and Arizona leads the nation in the number of supplier investments announced during that time (SIA). With decades of industry … [More]
Consumer Prices Rose 3.2 Percent in the Year through July, Slight Increase in the Inflation Rate
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment. The index for shelter was by far the largest contributor to the monthly all items … [More]
Coyotes Confirm in Statement Intent for Mesa Sports Arena Site
The Arizona Coyotes have confirmed, in a statement, that they have identified a proposed site to purchase for a sports arena and entertainment district similar to the one that was proposed earlier this year in Tempe. The statement reads: “We can confirm that Coyotes Owner, Chairman & Governor Alex Meruelo has executed a Letter of Intent to purchase a parcel of land … [More]
Their Take: Intel Is Poised to Unleash America’s Innovation Boom, Fueled by the CHIPS Act
It’s been one year since President Biden signed the CHIPS and Science Act into law, launching the most significant industrial policy initiative in a generation. In addition to the much-discussed manufacturing boom the law incentivized, we also stand on the cusp of America’s next big innovation boom. Powered by the promises of the CHIPS Act, Intel is doubling down on research … [More]
KORE Power Announces Agreement for Domestic Battery Delivery in 2025 as Arizona Facility Comes Online
KORE Power, Inc. has been selected by Energy Vault to deliver domestically produced batteries starting in 2025, when phase one of the KOREPlex facility in Arizona comes online. The Master Supply Agreement announced this week outlines an initial delivery capacity of 1.3 GWh in 2025, ramping up to 7 GWh in 2027 as KORE’s domestic battery production expands. “Energy Vault is … [More]
Small Business Owners Continue to Manage Challenging Economic Environment in July
The NFIB Small Business Optimism Index increased 0.9 of a point in July to 91.9, marking the 19th consecutive month below the 49-year average of 98. Twenty-one percent of owners reported that inflation was their single most important problem in operating their business, down three points from June. “With small business owners’ views about future sales growth and business … [More]
Arizona Economic Development Sets New Records, Projecting 24,246 New Arizona Jobs
Arizona economic development efforts continue to break records and earn international attention. During the 12-month fiscal period that ended June 30, 2023, the Arizona Commerce Authority and local economic development agencies successfully worked with companies that committed to creating a projected 24,246 new Arizona jobs with an average wage of $71,893. Those companies also … [More]
ASU, Arizona and Utah Move to Big 12 Conference
Arizona State University, the University of Arizona and the University of Utah will join the Big 12 Conference in 2024, positioning the universities and their student-athletes for increased stability and success. “We are excited for this new chapter, a move that is necessary to remain competitive in top-tier Division I athletics,” said ASU President Michael Crow. “We are … [More]
Mattel Adventure Park Set for 2024 Opening in Glendale Featuring Hot Wheels, Barbie
Pulse-pounding Hot Wheels rollercoasters and a life-size Barbie Beach House™ are just a few of the attractions underway at Mattel Adventure Park™, which will become Arizona’s first fully themed indoor/outdoor amusement park upon opening in 2024. Set to open just south of State Farm Stadium in Glendale at VAI Resort, Mattel Adventure Park will welcome guests 365 days a year, … [More]
Phoenix Office Market Posts Positive Net Absorption 2Q
The Greater Phoenix office market posted positive net absorption of 62,244 square feet during second quarter, which was largely made possible by fewer large move-outs in the evolving office environment. A report released by Colliers in Arizona indicates sublease space continues to pile into the market, increasing 19.7 percent during the past year. Second quarter posted … [More]
ASU and Credit Union Reach One of Most Significant Naming Rights Deals in College Sports
Arizona State University and Sun Devil Athletics announced a multi-year naming rights partnership with Mountain America Credit Union to form one of the most dynamic naming rights deals in college athletics. The 15-year partnership - the most significant in athletics department history - includes ASU’s football stadium, which now will be called ‘Mountain America Stadium, Home … [More]
ASU-TSMC Partnership to Focus on Student Support, Recruitment, Faculty Research
Arizona State University and the Taiwan Semiconductor Manufacturing Company (TSMC) today announced a partnership agreement focused on student support, training and recruitment, and faculty work projects and research that will deepen the existing relationship between ASU and the world’s leading manufacturer of semiconductor chips. The university and the company have already … [More]
First-Time Buyers Need to Earn 13% More Than a Year Ago to Afford the Typical U.S. Starter Home, Not in Phoenix
A first-time homebuyer must earn roughly $64,500 per year to afford the typical U.S. “starter” home, up 13% ($7,200) from a year ago, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s due to the one-two punch of higher mortgage rates and higher home prices. The typical starter home sold for a record $243,000 in … [More]
Las Vegas Surpasses Phoenix on List of Top Homebuyer Destinations
A record one-quarter (25.5%) of homebuyers nationwide looked to move to a different metro area in the second quarter, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That is up from 23% a year earlier and about 19% before the pandemic. Even though a record portion of homebuyers are relocating, there are fewer relocators … [More]
