The amount of industrial space under construction in Greater Phoenix hit 40.9 million square feet at the end of third quarter 2022, indicating the furious pace that developers have taken to satisfy historic demand in the marketplace. While construction levels have risen, so have rental rates with a remarkable 22.9 percent increase from a year ago. Net absorption of … [More]
You are here: Home / Archives for Top Stories
Prestamos CDFI to Provide Emerging Micro-Entrepreneurs Help to Gain Access to Capital Grants
inbusinessPHX.com
Prestamos CDFI, a division of Chicanos Por La Causa (CPLC), is excited to be the recipient, for a third year in a row, of the U.S. Small Business Administration (SBA) Program for Investment in Micro-Entrepreneurs (PRIME). Through this grant, Prestamos CDFI will be able to support 700 disadvantaged small businesses by providing training and technical assistance, including … [More]
SRP General Manager and CEO Announces Retirement in 2023
inbusinessPHX.com
On Nov. 7, Mike Hummel announced to the Salt River Project Board of Directors that he will be retiring from SRP in May 2023. As Hummel approaches his fifth year as general manager, he decided the time was right to retire after nearly 41 years of dedication to SRP’s mission, its customers and the Arizona community. “Mike has led us through a major sustainable … [More]
$100M Committed to Enhance Arizona Semiconductor Ecosystem
inbusinessPHX.com
A historic $100 million investment in Arizona’s fast-growing semiconductor industry was announced to spur greater growth in a critical sector of the state’s economy. “Arizona has earned a place as one of the world’s leading destinations for chip design, manufacturing and innovation,” said Governor Ducey. “With historic opportunities before us, this funding ensures we make … [More]
SBA Arizona District Director Offers 5 Ways to Thank Your Local Small Business
By Robert J. Blaney, SBA Arizona District Director
The pandemic has taken so much from us over the last 31 months that acts of celebration and sharing hold an even deeper significance. Hopefully, our holiday celebrations will have a modicum of normalcy to them because our values remain unchanged. This is the season of caring, the season of giving. We each look for ways to ease suffering and connect with our loved ones, … [More]
Respected Valley Accounting Firm Merges with National CPA Advisory
inbusinessPHX.com
Leading advisory CPA firm Baker Tilly US, LLP and full-service accounting and advisory firm Henry+Horne, LLP announce their intent to combine effective Dec. 1. In the last three years, Baker Tilly has expanded its geographic presence from coast to coast, strategically pinpointing the right markets with the right talent, such as Squar Milner of California, The MFA Companies … [More]
Arizona Awarded $15M to Connect Dislocated Workers to Jobs
inbusinessPHX.com
New resources are being made available to help long-term unemployed individuals, dislocated workers, and workers impacted by the pandemic. Through a federal grant, workers will have access to skills training, career pathways, and job opportunities. The Department of Labor awarded the $15 million grant to Arizona Quality Jobs, Equity, Strategy, and Training (QUEST), a … [More]
Phoenix Industrial Market Remains Strong, Posting Robust Demand and Rent Increases in Q3
inbusinessPHX.com
The Phoenix industrial real estate market, already one of the strongest in the U.S., closed a very robust Q3 2022, as rent rates continued to increase, more space was added to the construction pipeline, and vacancy remained low, according to new research from Transwestern Real Estate Services (TRS). Transwestern tracks industrial properties in nine critical Phoenix … [More]
While Buyer Demand Cools, Home Prices Dropped by 0.5% in September from the Previous Month
inbusinessPHX.com
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for September 2022. U.S. home price growth continued to relax on a year-over-year basis in September, posting an 11.4% increase. As in previous months, Southeastern states put up significantly higher price … [More]
Waymo and Phoenix Sky Harbor Partner to Offer ‘Ride-Hail’ Service to Downtown Phoenix
inbusinessPHX.com
Phoenix is the first place Waymo launched a public ride-hail service with no human behind the wheel over two years ago. Waymo is taking the next step by initiating the industry’s first-ever paid trips to and from an airport, with an autonomous specialist present for now, at Phoenix Sky Harbor International Airport, starting November 1. Phoenix is the fifth-largest city in … [More]
Scottsdale City Council Adopts New Rules for Short-Term Rentals
inbusinessPHX.com
Scottsdale will require short-term rental property operators to obtain and maintain a local license, conduct sex offender background checks on booking guests, carry liability insurance and provide neighbor notification, thanks to an update to the city’s vacation rental ordinance. The Scottsdale City Council voted unanimously in favor of the revised version of Ordinance No. … [More]
98 of the 100 Largest U.S. Markets Saw Home Prices Decline in September, Phoenix Tops for Buyers
inbusinessPHX.com
The cooling trend that is engulfing the U.S. housing market is expected to continue with more markets seeing home prices decline by this time next year as the shift to a buyer's market continues to take hold, according to the Knock Buyer-Seller Market Index released today. The Index, which analyzes key housing market metrics to measure the degree to which the nation's 100 … [More]
U.S. Serious Mortgage Delinquency Rate Returns to Pre-Pandemic Low in August, Says Report
inbusinessPHX.com
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2022. For the month of August, 2.8% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.2 percentage point … [More]
Semiconductor Executive Summit Partners with GPEC to host I.S.E.S. USA in Arizona, March 7th and 8th
inbusinessPHX.com
The International Semiconductor Executive Summits (I.S.E.S.) - USA will take place in Arizona on March 7-8, 2023 at the Sheraton Wild Horse Pass, with more than 150 industry leaders, visionaries and technology experts convene again in Arizona to present insights into the latest trends, innovations and developments across the microelectronics supply chain. The event will be … [More]
NFL Announce Expanded Roster of Events and Locations for Super Bowl LVII
inbusinessPHX.com
The Arizona Super Bowl Host Committee and National Football League today announced an expanded line-up of events taking place in the lead-up to Super Bowl LVII on February 12, 2023. Jay Parry, President and Chief Executive Officer of the Arizona Super Bowl Host Committee and Peter O’Reilly, Executive Vice President, Club Business & League Events of the NFL shared the … [More]
Blackstone and Dominium Partner to Bring New Affordable Housing to Phoenix
inbusinessPHX.com
Blackstone, through its affordable housing portfolio company April Housing, and Dominium, a leading affordable housing owner, developer and manager, announced a partnership to develop the Aviara Flats community that will bring 372 new affordable housing units to Phoenix, Arizona. As part of this partnership, Blackstone will provide $48 million of tax credit equity to support … [More]
Boys & Girls Clubs of the Valley, Terros Health Team Up to Provide Free Behavioral Health Services to Youth
inbusinessPHX.com
Boys & Girls Clubs of the Valley and Terros Health will provide free behavioral health services to youth at a time when they need it most, thanks to a collaboration between the Arizona Department of Education and three Arizona-based private foundations – The Bob & Renee Parsons Foundation, the Diane & Bruce Halle Foundation, and Virginia G. Piper Charitable … [More]
First-Time Home Buyers are Back, Despite Affordability Challenges
inbusinessPHX.com
First-time home buyers have returned to the housing market and those who can afford a home are finding success after years of setbacks. The share of buyers purchasing a home for the first time has rebounded to pre-pandemic levels. First-time buyers now represent 45% of all buyers, up from 37% of buyers surveyed last year, according to Zillow's 2022 Consumer Housing Trends … [More]
