Lucid Group, Inc., maker of the world’s most advanced electric vehicles, announced it has reached an agreement to acquire select facilities and assets in Arizona previously belonging to Nikola Corporation, subject to approval by the U.S. Bankruptcy Court for the District of Delaware. The transaction does not include the acquisition of Nikola’s business, customer base, or … [More]
Federal Cuts Put Arizona at Risk
After helping win $116 million for rural and tribal communities, Local First Arizona now fights to protect it
An innovative grant assistance center launched by Local First Arizona has helped rural communities, Tribal Nations and nonprofits across the state win more than $116 million in grant funding. But recent federal government grant cancellations and illegal funding freezes threaten to crush new jobs and economic revitalization that Arizona communities were counting on. The … [More]
74% of Import-Reliant U.S. Companies Plan to Hike Prices in Response to New Tariffs
Most increases expected by mid-2025; companies also freezing hiring, delaying raises, and cutting jobs
A new survey from ResumeTemplates.com finds that nearly three-quarters (74%) of U.S. companies that rely on imports plan to raise prices following the sweeping tariffs announced by President Trump on April 2, 2025. The survey, which polled 735 business leaders, indicates that most price hikes will take effect before the end of Q2 — and that consumers aren’t the only ones likely … [More]
Small Business Optimism Slips
Main Street continues to ank taxes as a top business issue
The NFIB Small Business Optimism Index declined by 3.3 points in March to 97.4, falling just below the 51-year average of 98. The Uncertainty Index decreased eight points from February’s second highest reading to 96. “The implementation of new policy priorities has heightened the level of uncertainty among small business owners over the past few months.” said NFIB Chief … [More]
Mesa Air Group to Merge, Creating New Regional Airline
Republic Airways Holdings Inc. and Mesa Air Group, Inc. announced that they have entered into a definitive agreement to merge and create a leading publicly-traded regional airline company in an all-stock transaction. Upon closing, the combined company will be renamed Republic Airways Holdings Inc. and is expected to remain NASDAQ-listed under the new ticker symbol … [More]
Small Businesses Actively Hiring for Current Vacancies
Labor quality remains a challenge for small businesses as job openings persist
NFIB’s March jobs report found that 40% (seasonally adjusted) of small business owners reported job openings they could not fill in March, up two points from February. A seasonally adjusted net 12% of owners plan to create new jobs in the next three months, down three points from February. The last time hiring plans were this low was in April 2024. “With qualified workers in … [More]
Insatiable Demand Keeps Metro Phoenix Third in U.S. Data Center Absorption
In a year where data centers faced their toughest power challenges yet, the industry didn’t just survive – it thrived. JLL’s new North America Data Center Year-End 2024 Report reveals a sector charging full speed ahead, with metro Phoenix remaining a top choice based on its location, infrastructure and cost. The market’s current inventory of 804 MW is also about to skyrocket, … [More]
Spring Inventory Blooms, but Buyers Remain Cautious amid Economic Uncertainty
The U.S. housing market saw signs of continued recovery this spring, with more homes hitting the market and total inventory rising for the 17th straight month, according to the March Housing Trends Report from Realtor.com®. However, rising price drops and slipping pending home sales suggest that buyers are proceeding with caution, likely due to current economic unknowns and … [More]
Senator Sinema Lands Post at Government Relations and Public Affairs Practice in DC
Global law firm Hogan Lovells announced that former Senator Kyrsten Sinema has joined the firm’s Global Regulatory & IP practice group in the Washington, D.C. office. Senator Sinema’s Chief of Staff Daniel Winkler will also be joining the firm as a policy advisor. “I am thrilled to welcome Senator Sinema to the firm,” said Hogan Lovells CEO Miguel Zaldivar. “Hogan Lovells … [More]
Arizona’s International Trade Reaches Record Levels
Growing international partnerships lead to historic job numbers, investment in Arizona
International trade and investment continue to fuel new economic opportunities across Arizona, new data shows. Arizona’s international trade reached a record $74.4 billion in 2024, Governor Hobbs announced during her International State of the State Address on Thursday. Exports by Arizona companies rose to $32.2 billion, an 11.6% increase from 2023, and more than five times … [More]
Phoenix Opens ‘Flagship’ Housing Facility
The City of Phoenix, RPM Team and Sprung Structures are announced the grand opening of the Phoenix Navigation Center – the City's flagship and largest housing facility, designed to provide immediate and transitional solutions for people experiencing homelessness. "This center will have ample space for people to live and work on the things they need to work on to end their … [More]
Nikola Announces Intent to Voluntarily Delist from Nasdaq and Deregister with the SEC
Nikola Corporation announced its intention to file a Form 25 Notification of Delisting with the Securities and Exchange Commission (the "SEC") on or about April 3, 2025, which will remove its securities from listing and registration on Nasdaq. Nasdaq previously suspended the trading of Nikola's common stock at the opening of business on February 26, 2025 and notified Nikola … [More]
Microchip Engages Firm to Facilitate Sale of Tempe Facility on Heels of Manufacturing Restructuring Plan
Microchip Technology announced it has engaged Macquarie Group to oversee the marketing and sale of its wafer fabrication facility (“Fab 2”) located in Tempe, Arizona. This decision is part of Microchip's previously announced manufacturing restructuring plan supporting its strategic goal of enhancing operational efficiency and profitability. The Fab 2 site, which … [More]
Governor Travels to Taiwan for Diplomatic, Business Meetings
Governor looks to capitalize on forward momentum in semiconductor industry
Governor Katie Hobbs is traveling in Taiwan for a diplomatic and business trade mission. During the trip, the Governor is meeting with Taiwanese President Lai Ching-te, executives from the TSMC management team, and cutting-edge tech companies to reinforce the mutually beneficial relationship between Taiwan and Arizona and capitalize on the forward momentum in Arizona’s … [More]
Fewer Multifamily Permits Today Could Mean Costlier Rents Ahead
Rents have been on a decline in the top 50 metros for over a year, but low multifamily permitting activity is making way for higher rent prices, according to the Realtor.com® February rent report. In fact, within the top 50 metros only 294,000 multifamily units were permitted in 2024, which is well below the 318,000 units permitted at the peak of the pandemic in … [More]
Public Universities’ Workforce Development and Research Fuel Arizona’s Economic Growth
Investment, research and high-skilled talent position state as tech and bioscience leader
Advancing Arizona’s financial future hinges on strategic investments in capital, talent and innovation, a key theme of the Arizona Fund Manager Association’s LIFT AZ 2025 symposium and panel discussion at the event led by Arizona Board of Regents member Jessica Pacheco. The event united investors and higher education leaders to explore how Arizona can attract and retain top … [More]
Phoenix Ranks Fourth among North American Data Center Markets
North American data center demand surged last year, driving a record amount of construction, with Phoenix boasting some of the highest average asking rates ($170 – $210) for 250-500 kilowatt (kW) per month, according to CBRE’s latest North American Data Center Trend Report. Phoenix’s total inventory increased to 602.8 megawatts (MW) (a 67% increase year over year), ranking … [More]
Battery Market Leader to Establish North American Headquarters and Battery Facility in Phoenix
Representing a $20 million investment, the new facility will create 50 new jobs.
Eternity Technologies Inc., a global leader in the industrial battery market, announced the selection of Phoenix, Arizona, as the site of its new North American headquarters and cutting-edge battery manufacturing facility. This milestone investment underscores Eternity’s commitment to delivering world-class solutions for Motive Power and Reserve Power applications … [More]
