Black Rock Coffee Bar, Inc. announced the pricing of the initial public offering of 14,705,882 shares of its Class A common stock at a price to the public of $20.00 per share. Black Rock Coffee Bar has granted the underwriters a 30-day option to purchase up to an additional 2,205,882 shares of its Class A common stock at the initial public offering price, less underwriting … [More]
Tokyo Trade Office Aims to Fast-Track Market Access for Arizona Firms
Governor Hobbs and the Arizona Commerce Authority announced the opening of a new Arizona Trade and Investment office in Japan. The new office, a part of the Arizona Commerce Authority, is located in Tokyo, Japan, and will serve as a platform to increase economic collaboration and foreign direct investment opportunities between Arizona and Japan, one of Arizona’s largest trading … [More]
Major Acquisition Grows PNC’s Arizona Footprint to 70+ Branches
The PNC Financial Services Group, Inc. announced a definitive agreement to acquire FirstBank Holding Company, including its banking subsidiary FirstBank, headquartered in Lakewood, CO. FirstBank, with $26.8 billion in assets as of June 30, 2025, provides commercial and retail banking services across Colorado and Arizona. FirstBank operates 95 branches, with a leading … [More]
Uber’s $300M Lucid Investment Confirms Phoenix-Built Robotaxis
Lucid Group, Inc., maker of advanced electric vehicles, announced the closing of a $300 million investment in the company by Uber Technologies, Inc. The strategic investment was made as part of the next-generation premium global robotaxi program announced in July. The robotaxi, which will utilize Lucid's electric vehicle technology platform, is planned to be built at … [More]
Greater Phoenix Economic Council Names President & CEO
The Greater Phoenix Economic Council (GPEC) Board of Directors announced nationally recognized economic leader Christine Mackay as the new President & CEO of the organization, effective Oct. 13, 2025. Mackay, who has served as the City of Phoenix Community and Economic Development Director since August 2014, enters the role with nearly 30 years of experience in economic … [More]
Amkor’s $2B Peoria Pivot Accelerates Chip Plant Timeline, Adds 2,000 Jobs
Amkor Technology, Inc., a provider of semiconductor packaging and test services, announced revised plans for the location of the company’s new semiconductor advanced packaging and test facility in Arizona. The facility will be constructed on a 104-acre site within the Peoria Innovation Core, in north Peoria, AZ. Peoria City Council unanimously approved a land swap … [More]
Fast-Growing Valley Coffee Co. Files Proposed IPO
Black Rock Coffee Bar, Inc. announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed offering is subject to market and … [More]
American Airlines and STARLUX Partner, Expanding Service Between Phoenix and Taipei
On the heels of the announcement of its new nonstop flights from Phoenix, Arizona to Taipei, STARLUX Airlines revealed another milestone — a partnership with American Airlines. With this new partnership, passengers on both airlines will have convenient access to more routes connecting North America and Taipei. The new Interline Partnership with American creates enhanced … [More]
State’s First-Ever Decentralized Tech Conference Set to Showcase Arizona’s Technology Leadership
With billions in new investment, a surge of startups and venture activity, and a deep pool of skilled talent, Arizona's innovation economy is scaling fast — and the world is taking notice. Governor Hobbs and the Arizona Commerce Authority, in partnership with the Arizona Venture Alliance, announced Arizona Tech Week, the state’s first-ever decentralized tech conference. The … [More]
Valley to Supply Key Components for Apple, Texas Instruments in New Partnership
Applied Materials, Inc. is working with Apple and Texas Instruments (TI) to bolster the semiconductor manufacturing supply chain in the United States. Applied is supporting Apple’s partnership with TI, announced today, by supplying American-made chipmaking equipment from Austin, Texas to TI’s U.S. factories. Austin is home to Applied’s largest manufacturing and logistics … [More]
Phoenix Sky Harbor Celebrates 90 Years; Now Arizona’s Largest Economic Engine
America’s Friendliest Airport held the PAW-ty of the year to celebrate its 90th anniversary. Phoenix Mayor Kate Gallego, Phoenix City Councilwoman Kesha Hodge Washington, and city and aviation leaders gathered to commemorate the purchase of a rural airport 90 years ago. That rural airport, Sky Harbor, was nicknamed “the Farm” during that time because of its location. The city … [More]
Landmark Scottsdale Hotel Lands $23M Loan for Rebrand and Relaunch
Lionheart Strategic Management LLC, an affiliate of Fisher Brothers that manages capital on behalf of third-party investors, and Schroders Capital, the private assets division of Schroders, announced that it has provided a $23.5 million mezzanine loan to Namastay Development and Hospitality Capital Partners for the renovation and recapitalization of The Monarch, a 194-key hotel … [More]
Intel CEO Announces 15% Cut to Global Workforce
Intel Corporation reported second-quarter 2025 financial results. “Our operating performance demonstrates the initial progress we are making to improve our execution and drive greater efficiency,” said Lip-Bu Tan, Intel CEO. “We are laser-focused on strengthening our core product portfolio and our AI roadmap to better serve customers. We are also taking the actions needed to … [More]
$200M AI-Powered Defense Factory to Bring 350 Jobs to Mesa
Hadrian, the advanced manufacturing company building AI-powered factories for America, announced plans to establish a large-scale manufacturing and software hub, known as Factory 3 in Mesa, Arizona. The 270,000-square foot facility represents a $200 million investment, which will support raw materials to complete mission-critical systems. Expected to be fully operational in … [More]
$2.2B Acquisition to Expand National Investor’s Footprint in Phoenix
Starwood Property Trust, Inc. announced that the Company has entered into a definitive agreement to acquire Fundamental Income Properties, LLC, a fully integrated net lease real estate operating platform and owned portfolio, for approximately $2.2 billion. Fundamental, currently owned by Brookfield Asset Management, operates a vertically integrated net lease … [More]
Phoenix Roofing Co. Acquired in Nearly $1B Cash Deal
Bow River Capital, a Denver-based alternative asset management firm, announced that it has completed the sale of Progressive Roofing, a leading provider of commercial roofing services, to TopBuild Corp. in an all-cash transaction valued at $810 million. Progressive Roofing, headquartered in Phoenix, Arizona, provides a comprehensive suite of commercial roofing services, … [More]
Phoenix Children’s Announces New President and CEO
Phoenix Children’s, one of the nation’s fastest-growing pediatric healthcare systems, announced the appointment of John R. Nickens IV as its next President & Chief Executive Officer, following the planned retirement of long-serving President & CEO Robert L. Meyer. Nickens will assume leadership of the organization no later than Oct. 1, 2025, bringing with him a … [More]
TSMC Arizona Sees Leadership Transition amid U.S. Expansion
Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, announced a significant leadership change at its key U.S. subsidiary, TSMC Arizona Corporation. This development comes as the company continues to advance its ambitious manufacturing presence in the United States. Effective July 1, 2025, Rick Cassidy stepped down from his roles as a Director … [More]
