Voters have options for casting their ballots on Propositions 301, 302 and 303 as part of the city’s Special Election on the Tempe Entertainment District. In November, the City Council unanimously approved the resolutions/ordinances for the Tempe Entertainment District project. Three aspects of the primarily privately funded proposal from Bluebird Development, the affiliate … [More]
$585M Loan Finalized to Complete The Palmeraie and The Ritz-Carlton Paradise Valley
Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, announced that it has originated a $585 million loan to Five Star Development for the completion of The Ritz-Carlton Paradise Valley, The Palmeraie and The Palmeraie, a mixed-use, ultra-luxury retail, dining and residential development in Paradise … [More]
SBA Announced New Lender Improvements Expanding Access to Capital
Following the recent finalization of two new rules aimed at closing gaps in capital access for America’s small business owners, the U.S. Small Business Administration (SBA) announced streamlined lender procedures and other details on implementation. "The Biden-Harris Administration recognizes that small businesses are the drivers of our economy, and that to participate in … [More]
ASU Researchers TEAMUP to Advance Solar Power
As climate change becomes a more pressing problem worldwide, the race to develop sustainable power-generation technology is increasingly crucial. A new consortium of academic and industry partners, Tandems for Efficient and Advanced Modules using Ultrastable Perovskites, or TEAMUP, seeks to help mitigate climate change by making a new generation of solar technology commercially … [More]
Design-Build Construction Firm Releases Q2 Construction Delivery Outlook Report
Leading design-build firm LGE Design Build released its second quarter Construction Delivery Outlook Report that monitors and analyzes the economic uncertainty and changes within construction labor, supply chain, material pricing, inflation and overall demand. “The recent turbulent years have taught us that the construction industry is resilient but that we need to be … [More]
Governor Hobbs Announces Arizona’s Title 42 Preparedness Approach
Ahead of the lifting of Title 42, Governor Hobbs today announced the state’s five-point preparedness approach outlining Arizona’s priorities for managing the expected influx of migrants. At the press conference, Hobbs was joined by DPS Director Jeffrey Glover, DEMA-EM Allen Clark, Pima County Sheriff Chris Nanos, Yuma Mayor Douglas Nicholls, and Representative Mariana … [More]
Job Openings Remain on Main Street, 92% of Owners Report No Qualified Applicants for Open Positions
Small business owners continue to struggle to find workers, with 45% (seasonally adjusted) of all owners reporting job openings they could not fill in the current period. The share of owners with unfilled job openings exceeds the 49-year historical average of 23%. Of those hiring or trying to hire, 92% of owners reported few or no qualified applications for the positions they … [More]
Meet 7 Exceptional AZ Tourism Leaders in 7 Days for 2023 National Travel & Tourism Week
Travel is essential in stimulating economic growth, creating job opportunities and bringing together friends, families and communities. But what’s essential to all travel are the exceptional industry professionals who work tirelessly to deliver these experiences to Arizonans and visitors throughout the year. As we celebrate 2023 National Travel and Tourism Week, starting on … [More]
Data Center Provider Announces Its First Phoenix Data Center Campus
Prime, a developer and operator of hyperscale and wholesale data centers in America and Europe, announced expansion into the Phoenix market with a five-building, 66.5-acre campus in Avondale. Prime Phoenix will feature 210 megawatts of critical power and 1.3 million square feet of space. The project will culminate in a sustainable, high-density data center campus designed to … [More]
More Restaurant Concepts Coming to Tempe’s Novus Place
Five restaurants, including some first-to-the-market concepts, have signed leases at Novus Place, the new main street entertainment district in the latest phase of the 355-acre Novus Innovation Corridor adjacent to Arizona State University’s Tempe campus. Among them are Blue Sushi Sake Grill, Eureka!, Over Easy, The Alley and Nautical Bowls. Flagship Restaurant Group’s … [More]
Phoenix Sky Harbor Bond Rating Upgrade with Record Passenger Numbers Echo Tourism Recovery
Moody's Investors Services raised its long-term rating to Aa2 from Aa3 on Phoenix Civic Improvement Corporation's (CIC) senior-lien general airport revenue bonds (GARBs) and raised its long-term rating to Aa3 from A1 on CIC's junior-lien GARBs, issued on behalf of Phoenix Sky Harbor International Airport (PHX). Both credits have stable outlooks. Moody's also assigns Aa2 to … [More]
Phoenix Suns, Phoenix Mercury Announce Groundbreaking Media Rights Deal
The Phoenix Suns and Mercury announced a new media rights deal with Gray Television, Inc. and Kiswe to deliver 100% of each team’s locally broadcast games via over-the-air television and streaming. Under the new deal, the Suns and Mercury games will be available to nearly 2.8 million households in Arizona, more than tripling the current number of homes the Suns and Mercury can … [More]
Arizona Manufacturers Tally a Staggering $77.6B in Sales for 2022, Says Report
Arizona manufacturers’ directly and indirectly sold $77.6 billion worth of goods and services in 2022, up nearly 40% from 2017, according to a new report by the Common Sense Institute Arizona (CSI), a nonpartisan research institute employing precise econometric analyses to bridge the gap between economic development and public policy. At approximately 9% of the state GDP and … [More]
New Resort Is Arizona’s Largest and Will Focus on Beach Life, Entertainment and Culinary Concepts
Imagine a $1 billion, 60-acre resort oasis destination rising from the Arizona desert landscape. Imagine a hotel room transforming into the most incredible concert seat to view world-renowned artists and entertainers performing from the $40 million stage in an unprecedented amphitheater and live entertainment venue. Imagine an island escape inspired by the most exotic beaches … [More]
Governor Announces First-of-Its-Kind Cross-Border Electric Truck Pilot Program
Alongside Governor Durazo, Governor Hobbs announced a first-of-its-kind Cross-Border Electric Trucking Pilot Program that will build businesses, create jobs, and help preserve Arizona’s natural resources and climate. This program will help ensure Arizona is leading the world into the green economy future. “Mexico is the strongest link in Arizona’s supply chain, and as … [More]
A Decade in Residential Construction in Arizona: Metro Phoenix Ranks Fourth in Top 10 Largest Metros with the Most Permits Issued in 2022
The most recent banking troubles, rising inflation, and prohibitive mortgage rates are some of the issues affecting the housing market at the moment. And the latest data supports the fact that the market is losing momentum: While the number of completed units has increased every year since 2012, permits and housing starts are dropping nationwide. Arizona follows the trend, with … [More]
Communications Co. Invests Over $10M in Infrastructure as It Prepares for Future Growth within the Salt River Pima-Maricopa Indian Community
Saddleback Communications, a provider of highly reliable fiber-based internet, voice and cloud communications services, is investing millions in new infrastructure on the Salt River Pima-Maricopa Indian Community (SRPMIC) to continue to provide exceptional reliability and next-generation services. The company recently announced its plan to invest more than $10 million over … [More]
