In the week ending January 23, the advance figure for seasonally adjusted initial claims was 847,000, a decrease of 67,000 from the previous week's revised level. The previous week's level was revised up by 14,000 from 900,000 to 914,000. The 4-week moving average was 868,000, an increase of 16,250 from the previous week's revised average. The previous week's average was … [More]
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Pandemic Leads to Sharp Pullback in Commercial and Multifamily Construction Starts in 2020, Only Phoenix Up (by 32%)
Dodge Data & Analytics
The value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. lost 23% in 2020, falling to $111.1 billion according to Dodge Data & Analytics. Nationally, commercial and multifamily starts tumbled 20% over the year to $193.4 billion. Commercial and multifamily construction starts in the top 10 metro areas dropped 23% during the … [More]
Ducey Issues Advisory to Accelerate COVID-19 Vaccine where Best Distributed
Rick McCartney
Governor Doug Ducey issued an advisory to accelerate the statewide distribution of the COVID-19 vaccine and move doses of vaccine to where they can be rapidly administered to the Arizonans. “The COVID-19 vaccination is our best shot at returning to life as it should be. Over the last two weeks, the COVID-19 vaccination site at State Farm Stadium has become a national model … [More]
SBA Takes Steps to Improve First Draw PPP Loan Review
U.S. Small Business Administration
The U.S. Small Business Administration is taking steps to improve the First Draw Paycheck Protection Program loan review so that small businesses have as much time as possible to access much needed PPP funds. The Biden-Harris Administration is focused on ensuring small businesses receive the support they need to keep their doors open and continue to employ millions of Americans … [More]
Funding Announced to Help Restaurants Expand Outdoor Seating, Protect Patrons and Staff
State of Arizona Office of the Governor
Governor Doug Ducey announced an additional $1 million for a statewide program aimed at helping Arizona restaurants and other dining establishments expand outdoor seating and limit the spread of COVID-19. “Restaurants throughout the state have expanded outdoor dining to welcome more customers while limiting the spread of COVID-19,” said Governor Ducey. “We want to make sure … [More]
Kroger Plans $89M High-Tech Fulfillment Center in Phoenix
Kroger
The Kroger Co. continues to make strides in the expansion of its portfolio of customer fulfillment centers with the announcement of plans for a new facility in Phoenix, where it operates as Fry’s Food Stores. The largest grocery retailer in the U.S. will make a capital investment of $89 million to realize the development of the approximately 222,900-square-foot project, … [More]
ASU Names New American Film School after Legendary Actor and Filmmaker Sidney Poitier
inbusinessPHX.com
Arizona State University (ASU) today established The Sidney Poitier New American Film School, one of the largest, most egalitarian film schools in the country, operating in three cities across Arizona and California. The school, which began as a film program 15 years ago, is one of five schools in ASU’s Herberger Institute for Design and the Arts. Named after one of … [More]
Global Technology Solutions Provider Reaches Centennial Milestone
Avnet
At a time of major global change, leading technology solutions provider Avnet is marking the company’s 100th anniversary in 2021, joining an elite group of companies that have reached their centennial. From its origins on Radio Row, the Manhattan warehouse district famous for its post-World War I electronics shops, to its current position as a top global distributor, Avnet has … [More]
5 Arizona Startups with Emerging Technology Get Grants from invisionAZ and StartupAZ
inbusinessPHX.com
YellowBird, an on-demand two-sided marketplace that matches vetted Environmental, Health, and Safety (EHS) professionals with businesses nationwide, is proud to announce it has been recognized by invisionAZ and StartupAZ with a $25,000 grant. The EmergeAZ Fast Grant was established in partnership with the Arizona Governor’s Office to provide financial support to … [More]
Home Values Break New Growth Records as Demand Surge Presses On
Zillow
Home value growth continued its meteoric rise in December as towering demand for homes carried on into winter, according to Zillow's® latest Real Estate Market Report1. Houses are going under contact quickly and sales far outpace the year prior as all-time low mortgage rates help keep monthly payments manageable, despite rising prices. Typical home values in the U.S. climbed … [More]
2020 U.S. Home Prices: A Bright Spot in a Dark Year, Says Report
Red Bell Real Estate, LLC
2020 will go down in the history books for many reasons, but one bright spot in a year of darkness is the performance of the U.S. residential real estate markets. December 2020, like much of the year, recorded very strong home price appreciation. According to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN), … [More]
U.S. Weekly Jobless Claims Show Modest Decline
U.S. Department of Labor
In the week ending January 16, the advance figure for seasonally adjusted initial claims was 900,000, a decrease of 26,000 from the previous week's revised level. The previous week's level was revised down by 39,000 from 965,000 to 926,000. The 4-week moving average was 848,000, an increase of 23,500 from the previous week's revised average. The previous week's average was … [More]
Arizona Passes 300,000 Mark in COVID-19 Vaccine Doses Administered
Arizona Department of Health Services
Almost 320,000 doses of COVID-19 vaccine have been administered in Arizona, reflecting strong momentum over the past week in getting more vaccine into the community. “Vaccine distribution is accelerating in Arizona, especially with the addition of the State Farm Stadium vaccination site. Late last week, we celebrated passing 200,000 doses administered and now we’ve surpassed … [More]
Nearly 150,000 February Appointments Booked at Two State COVID-19 Vaccination Sites
Arizona Department of Health Services
More than 5,200 Arizonans will receive their first doses of the COVID-19 vaccine every day next month at State Farm Stadium and Phoenix Municipal Stadium. “The nearly 150,000 appointments available in February for first doses have been booked at the two state-run COVID-19 vaccination sites,” said Dr. Cara Christ, director of the Arizona Department of Health Services (ADHS). … [More]
60,000 Paycheck Protection Program Loans Approved in First Week
U.S. Small Business Administration
The U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan. 11, at 9 a.m. ET through to Sunday, Jan. 17. Last week, the PPP provided dedicated access to community financial institutions that specialize in serving … [More]
Survey Predicts Austin will be the Nation’s Hottest Housing Market in 2021, Leading a Sunbelt Surge
Zillow
Austin will be America's hottest housing market in 2021, leading a list of mostly Sun Belt cities expected to continue heating up faster than the nation's large coastal markets, according to a new Zillow® survey of experts. The booming Texas destination heads a lineup of sunny and relatively affordable metro areas -- Phoenix, Nashville, Tampa and Denver -- that are most … [More]
Paycheck Protection Program Updates: PPP Opens to All
inbusinessPHX.com
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, has re-opened the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications. The portal is fully opened to all participating PPP lenders to submit First and Second Draw loan applications to SBA. Last … [More]
Arizona Passes 200,000 Mark in COVID-19 Vaccine Doses Administered
Arizona Department of Health Services
The number of COVID-19 vaccine doses administered in Arizona has passed 200,000 as the state and counties collaborate to get more and more vaccine into the arms of prioritized individuals. “This is an exciting milestone for Arizona,” said Dr. Cara Christ, director of the Arizona Department of Health Services (ADHS). “Any dose that remains in storage remains a challenge to be … [More]
