Navajo Nation and the Arizona Commerce Authority announced today a new partnership to promote Navajo Nation as a major international film and media destination. The partnership, which was outlined in a recently signed Memorandum of Understanding (MOU), aims to build a foundation of generational opportunities in the film and media industry. The MOU signed July 23, 2021, by … [More]
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Navajo Nation and the ACA Sign Deal to Expand Film and Media Industry in Arizona
Arizona Commerce Authority
Investor Homebuying Report Shows Slowing Purchase Activity amid Shifting Market Dynamics — A Decade in Review
CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, shared its Investor Homebuying report highlighting home U.S. purchase trends between 2011 and 2020. In the report, CoreLogic investigates activity nationally by both price tier and investor size and looks at which regions have had the most and least activity. A … [More]
SBA Opens Supplemental Grant Applications for Shuttered Venue Operators Grant Awardees
U.S. Small Business Administration
The U.S. Small Business Administration announced it will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program. Per the Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act, SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated a 70% loss when comparing 2021’s … [More]
Ducey Names Don Herrington as Interim ADHS Director, Taps Richard Carmona as Senior Public Health Advisor
State of Arizona Office of the Governor
Governor Doug Ducey today named Don Herrington, a 21-year veteran of the Arizona Department of Health Services, to succeed Dr. Cara Christ and oversee the frontline health care workers who have spearheaded the state’s response to the COVID-19 pandemic. The Governor and Herrington together named Dr. Richard Carmona, the 17th Surgeon General of the United States, to serve as … [More]
U.S. Weekly Jobless Claims Rise but Stay Near Last Week’s Pandemic Low
U.S. Department of Labor
In the week ending August 21, the advance figure for seasonally adjusted initial claims was 353,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 348,000 to 349,000. The 4-week moving average was 366,500, a decrease of 11,500 from the previous week's revised average. This is the lowest level for this average … [More]
Quarterly Trends Update on the Construction, Manufacturing, Retail, and Services Industries
NFIB
The NFIB Research Center released a quarterly Small Business Economic Trends industry report highlighting the construction, manufacturing, retail, and services industries. NFIB’s July Small Business Economic Trends report showed the overall Optimism Index at 99.7. “Small businesses are working hard to recover from the pandemic while still facing strong headwinds,” … [More]
Phoenix Digital Divide Solution Elevates Education and Workforce Opportunity
inbusinessPHX.com
Deployed as a digital divide solution, the Phoenix Digital Education Connection Canopy is a replicable network connecting students to schoolwork and virtual classrooms in Phoenix, Arizona. “It’s the silver lining from the pandemic cloud,” said Laura Pastor, Phoenix city councilwoman, whose district includes many of the city’s digitally underserved neighborhoods. “Children … [More]
Phoenix CRE Market Update: Slight Improvement in Office Vacancy
by Adriana Marinescu
Phoenix’s office vacancy slightly improved in July, according to CommercialEdge data. The average rate dropped to 17.7 percent, a 30-basis-point decrease when compared to June and a 70-basis-point drop year-over-year. However, the value continued to remain higher than the national rate of 15.5 percent. The metro’s decrease in vacancy is significant especially since no … [More]
Get Vaccinated: Full Approval for Pfizer Is Another Reason to Get Vaccinated Today against COVID-19
Arizona Department of Health Services
If the term “emergency use authorization” has kept you from getting vaccinated against COVID-19, it’s time to join millions of Arizonans who protected themselves, their families, and their communities by getting a life-saving jab. The Food and Drug Administration, in a critical step toward ending the pandemic, today granted full approval for the Pfizer-BioNTech vaccine to … [More]
Your Home May Be Worth More Than You Thought, as a Rental
Zillow
Memphis, Miami and Atlanta lead a host of major metros where rents are higher than typical mortgage payments, while new and improved Zillow Rental tools make it easier than ever to assess the possibility and opportunities of becoming a landlord The Great Reshuffling and the ability to work from home has severed or seriously stretched the commute for millions of Americans … [More]
U.S. Jobless Claims Hit New Pandemic Low
U.S. Bureau of Labor Statistics
In the week ending August 14, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 29,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 2,000 from 375,000 to 377,000. The 4-week moving average was 377,750, a decrease of … [More]
New Report Highlights Cities That Saw the Largest Median Home Price Increases in 2021
Credible
Credible, a multi-lender marketplace that empowers consumers to discover financial products best fit for their unique circumstances, and real estate brokerage HouseCanary partnered on a report that found the top 25 metropolitan statistical areas (MSAs) in the U.S. with the highest median home price change from December 2020 to June 2021. According to HouseCanary’s data … [More]
In Less Than Two Weeks, PPP Forgiveness Portal Surpasses Expectations, Accepts More Than 340K Submissions
U.S. Small Business Administration
Since the opening of the Paycheck Protection Program (PPP) Direct Borrower Forgiveness Portal on August 4, the U.S. Small Business Administration has received more than 340,000 submissions from borrowers with PPP loans of $150,000 or less, highlighting Administrator Isabella Casillas Guzman’s priority of rushing relief to the smallest of small businesses and far exceeding … [More]
Water: Phoenix’s Response to Drought and How It Impacts the City
City of Phoenix
The United States Bureau of Reclamation declared the first-ever Tier 1 Shortage on the Colorado River, beginning in January 2022. This shortage comes as a result of persistent declines in Colorado River flows as a result of long-term drought conditions, over allocation of available river resources, and … [More]
Phoenix Mayor Joins Business Leaders to Call for Bold Action and Investment in EV and Transportation Infrastructure
inbusinessPHX.com
Phoenix Mayor Kate Gallego joined business leaders to call for modernizing the transportation sector by investing in advanced vehicles and transportation infrastructure, as well as expanding electric vehicle (EV) tax incentives. At the press conference hosted by the Arizona Technology Council, Mayor Gallego and other clean-vehicle advocates urged Congress to pass a budget … [More]
Phoenix Leads List of 2021 Best Places to Live in the U.S. Based on Predictable Weather
Intellovations
Following what many would consider the most unpredictable year on record, Intellovations has decided to announce its list of the Best Places to Live based on predictable weather, featuring 20 cities and towns where you can count on the forecast no matter what other disruptions you may be dealing with. Intellovations’ No. 1 pick for Best Places to Live this year is … [More]
New Census Data Shows Record Growth in Maricopa Region: Get Easy-to-Use Tools to Access Local 2020 Census Results
Maricopa Association of Governments
Phoenix is now the fifth largest city in the country. Buckeye grew faster than any other city in the nation. Maricopa County added more residents than any other county in the country. Other regional highlights in the newly released data from the U.S. Census Bureau include: Queen Creek has the highest population growth (126%) and housing growth (129%) in the state by … [More]
Latest Arizona Business Index Released, Consumer Economic Optimism Grows
Greater Phoenix Chamber
The Greater Phoenix Chamber recently released the Q2 Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI). The study measures and interprets the health of the Arizona economy from the perspective of the Arizona consumer. “It’s encouraging to see a growing consumer sentiment and economic optimism,” said Todd Sanders, president and CEO, Greater Phoenix … [More]
