CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for May 2021. For the month of May, 4.7% 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 … [More]
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Small Business Optimism Dips in July as Labor Shortage Remains Biggest Challenge
NFIB
The NFIB Small Business Optimism Index decreased in July to 99.7, a decrease of 2.8 points, reversing June’s 2.9-point gain. Six of the 10 components declined, three improved, and one was unchanged. The NFIB Uncertainty Index decreased seven points to 76, indicating owners’ views are held with more certainty than in earlier months. “Small business owners are losing … [More]
Small Business Labor Shortage Hits New Record in July
NFIB
Small business owners reported a record high reading of unfilled job openings with 49% of owners reporting job openings they could not fill in July, according to NFIB’s monthly jobs report. Unfilled job openings have remained far above the 48-year historical average of 22%. “Small business owners struggled to find qualified workers for their open positions, which … [More]
BetMGM Expands into Arizona, Partnering with Gila River Hotels & Casinos, Arizona Cardinals
inbusinessPHX.com
BetMGM announced today partnerships with Gila River Hotels & Casinos and the Arizona Cardinals for retail and online sports betting, establishing its first relationships in the state of Arizona. BetMGM plans to bring its industry leading platform online once legalized sports betting launches in Arizona. The company also plans to open retail sportsbooks at the three Arizona … [More]
Invest Southwest Announces 25 Presenting Company Finalists for 2021 Venture Madness Capital Conference & Pitch Competition
Invest Southwest
Invest Southwest today announces the Presenting Company finalists selected for the 2021 Venture Madness competition, in partnership with the Arizona Commerce Authority. Venture Madness is Arizona’s longest running venture capital conference and pitch event, and joins Arizona Bioscience Week and UNMET Arizona, also hosting events that week at the Phoenix Biomedical Campus at … [More]
U.S. Jobless Claims Hit 385K, Remain Low as Delta Surges
U.S. Department of Labor
In the week ending July 31, the advance figure for seasonally adjusted initial claims was 385,000, a decrease of 14,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 400,000 to 399,000. The 4-week moving average was 394,000, a decrease of 250 from the previous week's revised average. The previous week's average was revised down … [More]
Leadership Development Groups Commit to Developing Shared Curriculum on Racial Justice
inbusinessPHX.com
A collective of leadership development organizations that work across the state have agreed to develop a shared curriculum focused on racial justice and equity. The result stems from a year of conversations spurred on by the pandemic, the murder of George Floyd and many other people of color and the subsequent unrest and increase in hate crimes across America. … [More]
Arcis Golf Acquires Arizona-based Mickelson Golf Properties
Arcis Golf
Arcis Golf, the second largest and fastest-growing owner and operator of golf facilities in the United States, has acquired six Mickelson Golf Properties from professional golfer and World Golf Hall of Fame legend Phil Mickelson and his business partner, Steve Loy. The transaction closed today, and Arcis Golf assumes operations on Tuesday, August 3. The six properties … [More]
Banner|Aetna to Enter the Affordable Care Act Marketplace in Arizona
Banner|Aetna
Banner|Aetna, a joint venture owned by Banner Health and Aetna/CVS, will offer health insurance plans to residents of Maricopa, Pinal and Pima counties through Arizona’s individual marketplace (also known as the Exchange) effective January 1, 2022. Previously, the insurer marketed health benefit plans exclusively to employers in the state. With this announcement, … [More]
City of Phoenix Provides Millions in Rental Assistance, Ramps Up Efforts to Get Additional Funds to Residents More Quickly
City of Phoenix
Human Services It's a story playing out in homes across our community. Five months into the COVID-19 pandemic, a Phoenix woman lost her job. Finding a new job was challenging. With five kids at home, all trying to do remote learning since their schools were closed made it even more difficult. After several months, the unemployment benefits were not enough to cover … [More]
Record-Breaking $145.7 Billion in Contracting Awarded to Small Businesses
U.S. Small Business Administration
The U.S. Small Business Administration announced that the federal government exceeded its small business federal contracting goal, awarding 26.01 percent or $145.7 billion in federal contract dollars to small businesses, a $13 billion increase from the previous fiscal year. “Despite the fact that it’s been an extremely challenging year for small businesses, the SBA is proud … [More]
Battery Cell Tech Co. Selects Arizona Site for One Million-Square-Foot Lithium-Ion Battery Manufacturing Facility
KORE Power
KORE Power, Inc. announced the first lithium-ion battery manufacturing facility wholly owned by a U.S. company will be built in Maricopa County. The one million square foot manufacturing facility, dubbed the KOREPlex, will support up to 12 gigawatt hours (GWh) of battery cell production to ensure a reliable and independent U.S. supply chain for lithium-ion battery cells that … [More]
U.S. Economy Grows Beyond Pre-Pandemic Numbers
U.S. Bureau of Labor Statistics
Real gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent (revised). The GDP estimate released today is based on source data that are … [More]
U.S. Jobless Claims Fall After Hitting Two-Month High
U.S. Department of Labor
n the week ending July 24, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 419,000 to 424,000. The 4-week moving average was 394,500, an increase of 8,000 from the previous week's revised average. The previous week's average was revised up … [More]
CDC Mask Guidance Prompts Change for City Buildings
City of Phoenix
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]
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]
