When it comes to topping lists, Arizona is a pro. Top three in the nation for economic momentum, top five for GDP growth, top ten for business—we’ve pretty much got it all.
Over the past few years, the state has been making gains not only in population, but also in personal income and employment. Take a look at a few of the economic highlights of Arizona, and find out why it’s such a hot area to call home.
Arizona is popular—but don’t just take our word for it. In 2018, Maricopa County (home to Phoenix, Tempe, Mesa, and Scottsdale) boasted the biggest population influx of any other county nationwide. Even further, the city of Phoenix grew more than any other city in the country, adding 25,288 people from the summer of 2017 to the summer of 2018.
Currently, the state’s total population sits at over 7 million. With so many people moving into the area, we’ve also seen a boom in business, largely thanks tot he Arizona Commerce Authority.
The Arizona Commerce Authority
The ACA is the leading economic development agency in the state, and their sole purpose has been to strengthen the state’s economy. Their three-part mission has included:
- Attracting out-of-state businesses to establish a base in Arizona.
- Expanding the companies that already have a home in the state.
- Aiding entrepreneurs in creating new, state-based business.
So far, they’ve been wildly successful. Since they kicked things off in 2011, they’ve worked on 730 projects, which has led to 133,000 jobs and $21.4 billion in capital investments.
How do those numbers translate to the general population? Well, they’ve helped pave the way for some major technological improvements in the community, including establishing 5G, allowing home sharing and ride sharing, and making the state a leader in testing automated vehicles.
Not only do all of these advancements improve the quality of life in the state, but they’ve also led to huge boosts in the economy and job market!
Long story short? Life in Arizona is looking pretty good these days.
Find Your Home in Arizona
A booming job market, a constantly increasing population, unlimited growth potential—Arizona has a lot to offer. Find your home in the heart of all it when you make the move to the Phoenix area!
Get to know a little more about the highlights of life here, browse our resources for buyers, and use our specialized search tool to narrow down your options. Ready to get started? Just give our team a call!