Once a place of back offices and call centers, Phoenix is today a city transformed with new businesses and organizations, many of them in the tech industry. Factors like labor availability and low cost of living have made Phoenix an attractive place for many technology companies—both large and small.
Here’s why Phoenix is poised to become one of the newest tech hubs in the US.
The Costs of Living & Business Are Low
The average cost of living in the Phoenix metro is 8% below the national average. Compare that to the 49% higher cost of living in the Silicon Valley, and it’s not hard to see why more and more companies are relocating to or developing in Phoenix.
The Workforce is Available
Plus, Phoenix is home to several tech-oriented schools and universities, like Arizona State University, which has over 90,000 students—including nearly 20,000 in the Ira A. Fulton School of Engineering. Other major tech-oriented educational institutions include Grand Canyon University and Maricopa Community College.
Major Companies Have Set Up Office in Phoenix…
The pro-business climate, low cost of doing business, and availability of the workforce have drawn major financial and retail companies like Charles Schwab, Silicon Valley Bank, American Express, Discover, and Home Depot…
… And Silicon Valley Tech Companies Followed
In Over the past few years, Phoenix has welcomed numerous tech-oriented companies to the area, many of them relocating from the infamously expensive Silicon Valley. These include companies like Yelp, Weebly, Uber, Shutterfly, Prosper Marketplace, BoomTown, Gainsight, DoubleDutch, and many more.
Startups & Small Biz Are Also Welcome
Another major factor in Phoenix’s growth as a tech hub is its support for startups and smaller companies. Organizations such as #yesPHX and StartupAZ Foundation provide resources and assistance for new companies starting in the Phoenix area.
Thinking of Relocating to Phoenix for Work or Business?
If you’re thinking of relocating to or buying a home in the Greater Phoenix area, then it’s time to contact the S4 Team. We’re here to help you explore the area, discover its beautiful neighborhoods, and find the perfect place to call home.