The City of Phoenix is updating its face covering policy to reflect recent changes by the Centers for Disease Control and Prevention (CDC) and to protect employees and residents from increasing COVID-19 transmission rates. Effective Monday, August 2, 2021, the City Manager will once again require face coverings in all city of Phoenix facilities, regardless of vaccination … [More]
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Phoenix Sky Harbor Recognized for Prioritizing Health and Safety
Phoenix Sky Harbor International Airport
Phoenix Sky Harbor International Airport has been accredited by Airports Council International (ACI) for providing a safe airport experience for all travelers. The ACI Airport Health Accreditation program requires a thorough assessment of an airport's cleaning and safety practices. Those practices are then measured against the international industry standard. In order to … [More]
SBA Reaches Milestone Awarding $7.5 Billion in Shuttered Venue Operators Grants to over 10,000 Venues
U.S. Small Business Administration
The U.S. Small Business Administration reached a new milestone of successfully awarding over $7.5 billion in Shuttered Venue Operators Grants (SVOGs) to more than 10,000 hard-hit live entertainment small businesses, nonprofits, and venues. The SVOG program is designed to assist in getting the nation’s cultural institutions, which are critical to the economy and were among the … [More]
New 26-Story Multifamily Building Breaks Ground in Phoenix
inbusinessPHX.com
Real estate development firm Hubbard Street Group and capital partner Cresset Real Estate Partners today broke ground on a new multifamily project in Phoenix. Located on the Southeast corner of 6th Street and Garfield Street in the Roosevelt Row Arts District, the new Skye on 6th development will feature 309 units spanning 26 floors with approximately 6,500 square feet of … [More]
Arizona Commerce Authority Is Now Accepting Applications for the 2021 Arizona Innovation Challenge
Arizona Commerce Authority
The Arizona Commerce Authority (ACA) announced today applications are being accepted for the 10th annual Arizona Innovation Challenge (AIC). Applications are being accepted from July 26 to August 27. The Arizona Innovation Challenge, which is the largest business plan competition in the nation, advances innovation and technology commercialization opportunities in Arizona by … [More]
Phoenix Market Update: Slow and Steady Development Progress
By Adriana Marinescu
In June, Greater Phoenix saw few additions to its office pipeline, showing a slow and steady development trend. According to CommercialEdge data, 1.7 million square feet of office space was underway across the metro, 1.3 percent of existing stock. Construction activity marked a small uptick when compared to the previous month, when some 1.5 million square feet were … [More]
Single-Family Rent Growth Rate Spikes in May as Housing Economy Challenges Persist, Says Report
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. May 2021 data shows a national rent increase of 6.6% year over year, up from a 1.7% year-over-year increase in May … [More]
The Great Reshuffling Is Changing How Far Americans Are Willing to Commute
Zillow
A short commute has long come with a hefty price tag. But as remote work became more commonplace during the pandemic, Americans prioritized affordability over quick access to the office. Home values within a short commute of the country's biggest downtown job centers are growing more slowly than those farther out, a new analysis from Zillow® and HERE Technologies shows, … [More]
U.S. Jobless Claims Show Unexpected Rise from Last Week’s Pandemic Low
U.S. Department of Labor
In the week ending July 17, the advance figure for seasonally adjusted initial claims was 419,000, an increase of 51,000 from the previous week's revised level. The previous week's level was revised up by 8,000 from 360,000 to 368,000. The 4-week moving average was 385,250, an increase of 750 from the previous week's revised average. The previous week's average was revised up … [More]
Eligible Previously Unemployed Arizonans May Now Apply for up to $2,000 Return-to-Work Bonus
Arizona Department of Economic Security
The Arizona Department of Economic Security today announced eligible individuals who were previously receiving unemployment and have returned to work are now able to apply for a Return to Work Bonus (RTWB) of up to $2,000. On May 13, 2021, Governor Doug Ducey and DES announced Arizona's Back To Work Program to help individuals transition from unemployment and return to the … [More]
U.S. and In-State Visitors Were Crucial to Arizona Economy in 2020, Says Report
Arizona Office of Tourism
Arizonans know there are amazing places to explore, communities to visit and memories to be made right in their own backyard. And last year proved it. Despite the COVID-19 pandemic, the Grand Canyon State still welcomed 32.1 million total overnight visitors who spent $15 billion here in 2020. Arizonans and people from other states made up the vast majority of those visitors … [More]
Study Showcases Impact of COVID-19 on Hotel Industry Employment, Arizona Down 18.3%
American Hotel & Lodging Association
Midway through 2021, a new report and state-by-state job loss breakdown released by the American Hotel & Lodging Association (AHLA) find that while leisure travel is starting to return, the hotel industry’s road to recovery from the pandemic is long and uneven, with urban markets disproportionately impacted. Industry projections have improved since January with the … [More]
Business Leaders’ Optimism, Growth Expectations Soar Past Pre-Pandemic Levels, Says Survey
JPMorgan Chase & Co.
As much of the country reopens nearly a year and a half since the outbreak of the COVID-19 pandemic in the U.S., midsize business leaders’ optimism about their industries and companies hit record highs, according to JPMorgan Chase’s 2021 Business Leaders Outlook Pulse survey released today. Nearly 9 in 10 business leaders (88%) are optimistic about their company’s … [More]
Phoenix Suns and Mercury Form Global Partnership for Newly Named Footprint Center
inbusinessPHX.com
The Phoenix Suns, Phoenix Mercury and Real Mallorca announced a new long-term partnership with Footprint, a material science company creating a healthier planet by reducing dependency on single- and short-term use plastics. The partnership will include naming rights and product integration, and it will exponentially amplify awareness and use of plant-based fiber alternatives to … [More]
Piper Charitable Trust COVID-19 Response Grants to Help 26 Performing Arts Organizations
Virginia G. Piper Charitable Trust
Virginia G. Piper Charitable Trust awarded more than $2 million (June 2021) to 26 performing arts organizations. The grants will help strengthen performing arts organizations’ re-emergence following severe disruption caused by the pandemic and provide vitally important access. Trust founder Virginia Galvin Piper believed arts and culture to be critically important for … [More]
Phoenix Moves Up a Spot to #17 on CBRE’s Annual ‘Scoring Tech Talent’ Report
CBRE Group
Phoenix moved up one spot to #17 overall on CBRE’s 2021 Scoring Tech Talent report as North American tech-talent employment weathered the pandemic better than most other professions. Numerous indicators underscore the resilience of tech talent during COVID-19. These occupations registered job growth of 0.8 percent in 2020 in the U.S. while non-tech occupations declined by … [More]
U.S. Jobless Claims Fall to New Pandemic Low
U.S. Department of Labor
In the week ending July 10, the advance figure for seasonally adjusted initial claims was 360,000, a decrease of 26,000 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 13,000 from 373,000 to 386,000. The 4-week moving average was 382,500, a decrease of … [More]
ASU’s Novus Innovation Corridor Has Created $1.86B in Economic Impact
inbusinessPHX.com
The Novus Innovation Corridor, a 355-acre, multi-phased urban mixed-use development on the Tempe campus of Arizona State University will have significant economic impact on the greater Phoenix area as projected by ASU’s Seidman Research Institute (Seidman). Construction of completed and currently active projects in Novus will generate an economic impact of $1.86 billion*. … [More]
