Fewer homes than ever were for sale in January, but homebuyers snapped up what they could before mortgage rates rose further, according to a new report from Redfin, the technology-powered real estate brokerage. Seasonally adjusted new listings fell 12.4% month over month, bringing the number of homes for sale down 2.6% to a record low. But demand persisted, and sales rose … [More]
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GM to Grow Workforce at IT Innovation Center in Chandler with Hundreds of New Tech Jobs
inbusinessPHX.com
General Motors is hiring several hundred employees for software-based positions at its Arizona Information Technology Innovation Center in 2022. Over 1,000 GM employees are based out of the 170,000 square-foot facility, located at 2900 W. Geronimo Place in Chandler’s Price Corridor. The Arizona IT Innovation Center is one of four national GM technology hubs, with sister … [More]
Kohler Co. Announces Construction of Manufacturing Facility in Casa Grande
inbusinessPHX.com
Kohler Co., a global leader in kitchen and bath products, is proceeding with constructing a greenfield plumbing ware manufacturing facility, ancillary warehouse, and office space on 216 acres in Casa Grande. The multi-million capital investment comprises a total of approximately 1 million square feet, with room onsite for future expansion, and will bring more than 400 new … [More]
U.S. Weekly Jobless Claims Edge Up
U.S. Department of Labor
In the week ending February 12, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 23,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 223,000 to 225,000. The 4-week moving average was 243,250, a decrease of 10,500 from the previous week's revised average. The previous week's average was … [More]
United Aims to Quadruple the Size of Its Fleet of Training Aircraft at Goodyear Academy
inbusinessPHX.com
United Aviate Academy announced that it aims to potentially quadruple the size of its fleet of training aircraft, in response to the surge of applications to the country's only flight school owned by a major airline. The Academy will add 25 new, state-of-the art Cirrus TRAC SR20 training aircraft to its current fleet of 25, with the option to purchase up to 50 … [More]
Real Estate Investors Are Buying a Record Share of U.S. Homes, Phoenix in Top 5
inbusinessPHX.com
Real estate investors bought a record 18.4% of the homes that were sold in the U.S. during the fourth quarter of 2021, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up from 12.6% a year earlier and a revised rate of 17.4% in the third quarter. Although investor market share hit a record in the fourth quarter, the number of … [More]
Governor Ducey Launches Effort to Hire Veterans
inbusinessPHX.com
Governor Doug Ducey launched a plan to nearly double veterans in the state workforce, building on his commitment to make Arizona the best state for veterans in the country. “Arizona has a message for the men and women who’ve served our country in uniform – we value your experience, we value your skills and we want you to come work for our state,” said Governor Ducey. “The … [More]
Arizona Celebrates 110 Years of Statehood
inbusinessPHX.com
"On this day 110 years ago, President William Howard Taft made Arizona the 48th state of the Union. As he signed the Arizona Statehood Bill, President Taft said ‘I hope to see the valleys of the new state teeming with prosperity and afford homes to many thousands of people," Governor Doug Ducey said today in his statement in honor of Arizona Statehood Day. "Eleven decades … [More]
Co-Development Negotiations Underway for 5-Acre Hayden Flour Mill Redevelopment
inbusinessPHX.com
Phoenix-based adaptive reuse experts Venue Projects and Scottsdale-based legacy developer Sunbelt Holdings have been selected by the City of Tempe to co-lead the redevelopment plans for the 5-acre Hayden Flour Mill, one of Tempe’s most revered landmarks and an integral part of Tempe’s history. Located at the southeast corner of Mill Avenue and Rio Salado Parkway in Tempe, … [More]
SBA Program Helps to Expand Equitable Access for Small Business
by Robert J. Blaney, SBA Arizona District Director
The Arizona District Office of the Small Business Administration recently welcomed Administrator Isabella Casillas Guzman when she visited Mesa and Phoenix to promote the Community Navigator Pilot Program (CNPP). The CNPP was established by the American Rescue Plan Act of 2021 and will use a community navigator approach to help small businesses, with a focus on those owned by … [More]
U.S. Jobless Claims Fall for Third Straight Week
U.S. Department of Labor
In the week ending February 5, the advance figure for seasonally adjusted initial claims was 223,000, a decrease of 16,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 238,000 to 239,000. The 4-week moving average was 253,250, a decrease of 2,000 from the previous week's revised average. The previous week's average was revised … [More]
Prices Rose at a 7.5 % Annual Rate in January, the Fastest Pace of Inflation in 40 Years
U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment. Increases in the indexes for food, electricity, and shelter were the largest contributors to the … [More]
Innovators and Entrepreneurs Who Help Drive Arizona’s Tech and Innovation Ecosystem Meet
inbusinessPHX.com
Innovators and entrepreneurs who help drive Arizona’s technology and innovation ecosystem met at the CONVERGE Tech Summit, one of the Waste Management Phoenix Open’s signature events. Known as the “Greatest Show on Grass,” the Open is one of the most important stops on the PGA Tour. The widely attended tournament officially kicks off tomorrow in Scottsdale. “There’s never … [More]
CONVERGE Tech Summit Returns to the WM Phoenix Open Tomorrow, Feb 9
inbusinessPHX.com
Presented by ASU Enterprise Partners' RealmSpark, the 2022 CONVERGE Tech Summit returns to the WM Phoenix Open on Wednesday, Feb. 9 for a day of candid conversations and exciting announcements. CONVERGE Tech Summit showcases Arizona innovation, discusses issues critical for tech innovation and betterment. Sponsored by invisionAZ, the CONVERGE … [More]
4th Quarter 2021 Brings Decline in Phoenix Office Vacancy
inbusinessPHX.com
Greater Phoenix posted its first quarterly decrease in office vacancy since the pandemic hit in 2020, according to a report released by Colliers in Arizona. Additional office market conditions include steady rental rates and impressive investment sales. Population growth and economic expansion in Greater Phoenix are credited with helping the area’s office market remain … [More]
Inflation Continues Impact on Small Businesses, Says Survey
NFIB
The NFIB Small Business Optimism Index decreased slightly in January to 97.1, down 1.8 points from December. Inflation remains a problem for small businesses as 22% of owners reported that inflation was their single most important business problem, unchanged from December when it reached the highest level since 1981. The net percent of owners raising average selling prices … [More]
Banner MD Anderson Launches Landmark Research Expansion
inbusinessPHX.com
In a major milestone for cancer research in the southwest, Banner MD Anderson Cancer Center opened a $1 million Investigational Cancer Therapeutics Research Unit on the Banner Gateway Medical Center campus. The specialized space will benefit cancer patients enrolled in first-in-human and early therapeutic trials requiring close monitoring during study treatments, and expands … [More]
Talking Stick Resort Named Official Casino Sponsor of the WM Phoenix Open
inbusinessPHX.com
Talking Stick Resort is proud to announce that it will serve as the ‘Official Casino of the WM Phoenix Open.’ The partnership marks the start of a three-year agreement between the resort and the legendary PGA TOUR event, now in its 87th year. A fan-favorite and widely considered “The People’s Open,” the 2022 WM Phoenix Open tees off today through Feb. 13 at TPC … [More]
