A recent survey of commercial real estate investors ranked Phoenix as a top 10 target among U.S. metros. Phoenix slipped three spots to #10 in CBRE’s 2025 U.S. Investor Intentions Survey. Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Phoenix is recognized by investors for its pro-business environment, strong … [More]
Phoenix Sky Harbor Gears Up to Celebrate 90th Anniversary
A 90th anniversary might elicit images of a long look back at a full, storied life but Phoenix Sky Harbor International Airport is looking forward to a busy future as it counts down to its 90th anniversary this year. America's Friendliest Airport® is commemorating when the city of Phoenix paid $100,000 in 1935 to purchase a remote airfield nicknamed “The Farm" that today … [More]
Nestlé Opens of State-of-the-Art Beverage Factory and Distribution Center in Arizona
Nestlé USA announced the grand opening of its new beverage factory and distribution center in Glendale, Arizona. The new facility will produce creamers for several of Nestlé's go-to brands, including Coffee mate®, natural bliss® and Starbucks®, and has the ability to extend to additional beverages in the future. Today, people enjoy coffee and creamer beyond their morning … [More]
Barrett-Jackson Kicks Off 2025 Surpassing More Than $198M in Total Auction Sales
Barrett-Jackson, The World’s Greatest Collector Car Auctions, kicked off 2025 with the ultimate automotive lifestyle experience during the Scottsdale Auction, held Jan. 18-26 at WestWorld of Scottsdale. The Scottsdale Auction, held annually since 1971, featured a 100% No Reserve docket of 2,013 collectible vehicles achieving more than $193 million in auction … [More]
GridStor Announces Acquisition of Arizona Battery Energy Storage Project
GridStor, a developer and operator of utility-scale battery energy storage systems, announced that it has acquired a 100 MW / 400 MWh battery storage project in Arizona from Capacity Power Group (CPG). GridStor’s acquisition and plan to construct battery storage in Arizona comes during a critical time for the region. Rising power demand from residential and large industrial … [More]
Phoenix Makes Successful Debut at CES 2025
The City of Phoenix made its first appearance as an exhibitor at the Consumer Electronics Show (CES) in Las Vegas during the first week of January, leading to hundreds of business meetings and connections. As the only U.S. city to exhibit at CES, Phoenix showcased its commitment to advanced technology and innovation that creates jobs, supports educational institutions, and … [More]
Governor Releases FY2026 Executive Budget Proposal
Proposal seeks to restore The Arizona Promise and delivers critical funding to strengthen opportunity, security, and freedom Governor Hobbs released her FY2026 Executive Budget, which invests in critical efforts to support working families and help Arizonans thrive. “To realize the Arizona Promise, we must deliver opportunity, security, and freedom for Arizonans,” said … [More]
Phoenix Considers Multiple Options to Balance Budget, Shortfall Anticipated
The City of Phoenix is exploring options to deal with a potential budget shortfall, which could include raising sales tax or cutting some services to residents. The City is required to adopt a balanced budget each fiscal year. Under the direction of the Mayor and Phoenix City Council, the City has successfully managed significant growth in population, … [More]
Governor Announces $17 Million for Border Security
Governor Katie Hobbs announced $17.2 million in funding from the SAFE (Stopping Arizona’s Fentanyl Epidemic) initiative to support local law enforcement’s border security work, drug interdiction efforts, and combatting human trafficking. This investment will support law enforcement departments, including county sheriffs’ offices, to address critical challenges in Arizona’s … [More]
Small Business Optimism Surges Again, Reaches Six-Year High
Main Street uncertainty declines further as owners feel more confident following November’s election results
The NFIB Small Business Optimism Index rose by 3.4 points in December to 105.1, the second consecutive month above the 51-year average of 98 and the highest reading since October 2018. Of the 10 Optimism Index components, seven increased, two decreased, and one was unchanged. The Uncertainty Index declined 12 points in December to 86. “Optimism on Main Street continues to … [More]
New Accelerator Partnership Announced to Transform Arizona into a Global Tech Powerhouse
Tesoro.vc, in partnership with the City of Phoenix, the Greater Phoenix Economic Council (GPEC) and StartupAZ, is proud to announce the launch of its groundbreaking startup accelerator. This visionary initiative aims to position Arizona as a premier national and global hub for technology startups. Headquartered in Phoenix, one of the fastest-growing cities in the United States, … [More]
SBA Awards Record-Breaking $183B in Federal Contracts to Small Businesses, Marking Fourth Consecutive Year of Growth
The U.S. Small Business Administration (SBA) announced that small businesses received more than $183 billion in prime contracts from the federal government – 28.8% of all federal contracting dollars – in fiscal year 2024, which ended Sept. 30, 2024. Prime contracts are awarded to small businesses to work directly with the government. These prime contracting awards once again … [More]
Gulfstream Customer Support Opens New Service Center in Mesa
Facility adds jobs and enhanced fleet support in Arizona
Gulfstream Aerospace Corp. announced the official opening of its newest Customer Support service center at Mesa Gateway Airport in Mesa, Arizona. To mark the occasion, state and local dignitaries, community partners, and Gulfstream leaders and employees gathered for a ceremonial ribbon-cutting to formally welcome customers to the new Mesa Service Center. Gulfstream … [More]
Businesses Ring in the New Year with Renewed Optimism
Inflation and labor constraints remain top concerns
There is a renewed sense of optimism among small and midsize business leaders as they consider their business and economic prospects for the year ahead, according to JPMorganChase’s 2025 Business Leaders Outlook survey released today. Compared to a year ago, confidence in the national economy has jumped 12 percentage points to 55% among small business owners, and more than … [More]
New ASU Graduate Business Degree Options Meet Emerging Market Needs
Following the successful launch of the nation's first graduate program in artificial intelligence in business, the W. P. Carey School of Business at Arizona State University is adding to and enhancing its graduate business program offerings to meet student needs and new business demands. This fall, two new programs — a master's degree in economics and an online master's degree … [More]
Phoenix Set to Show Off at CES 2025 in Las Vegas
To showcase Phoenix as a rising hub for innovative technology, advanced manufacturing, bioscience, and aerospace, Mayor Kate Gallego and the City's Community and Economic Development Department will travel to this year's Consumer Electronics Show (CES) from January 7 to 10 in Las Vegas, Nevada. This will mark the Mayor and City's first time participating in CES, the world's … [More]
Arizona and ASU Selected for Flagship Prototyping and Advanced Packaging R&D Facility
The Arizona Commerce Authority announced that the U.S. Commerce Department and Natcast, the operator of the National Semiconductor Technology Center (NSTC), have selected Arizona as the site of the co-located NSTC Prototyping and NAPMP Advanced Packaging Piloting Facility, the third of three CHIPS for America research and development (R&D) flagship facilities. The facility … [More]
2024 Year in Review: Advancing Arizona through Economic Development
High-growth industries saw significant investments alongside wins for startups, small business and broadband
In 2024, Arizona continued to attract historic investments while pioneering new advancements for workers, startups and small business owners, rural communities and more. Watch Arizona’s economic year in review below “2024 represented a year of significant growth and investments to continue growing Arizona’s economy,” said Sandra Watson, President and CEO of the … [More]
