Economy Archives

Accounting sector expects strong revenue, steady profits

Reviewing Investments Annually

The nation’s accounting firms are experiencing the strongest growth in revenues since the recession, averaging 6.3 percent last fiscal year, according to the just-released INSIDE Public Accounting’s (IPA) National Benchmarking Report. In fact, 85 percent of the 540 firms that participated in IPA’s Annual Survey and Analysis of Firms experienced positive organic revenue growth. One… Read More →

Economic experts expect steady growth, low unemployment for 2017

Downtown Phoenix, Photo: Flickr, squeaks2569

Steady, improving employment numbers at both the local and national levels are the highlight of an ongoing, eight-year economic recovery, which saw unemployment as high as 10 percent. With unemployment hovering around 5 percent now, top Valley economists say this is likely “as good as it’s going to get” recovery-wise for the foreseeable future. Economists… Read More →

Turf Paradise has an economic impact of $91M, study finds

Turf Paradise

A study, recently released by economist Dr. Margaret Ray of the University of Mary Washington in Fredericksburg, Virginia found that Turf Paradise Race Course generates an annual economic impact of $91 million to the state of Arizona. Since its establishment in 1956 as Arizona’s first sports franchise, Turf Paradise has continually been ranked among the… Read More →

Arizona poverty rate down, but many still hungry


Last week, the U.S. Census Bureau released new data showing the official poverty rate had its largest one-year decline since 1968. The U.S. poverty rate fell from 14.8 percent to 13.5 percent. In Arizona, the official poverty rate is now 17.4 percent, down from 18.2 percent the previous year. The child poverty rate is 24.7 percent,… Read More →

108 Arizona companies make Inc. 5000 list


A total of 108 Arizona companies earned spots on the Inc. 5000 list of the top 5,000 fastest-growing private companies in the U.S. for 2016. Criteria for earning admission to the 2016 Inc. 5000’s list include required businesses to: • Be privately held, for profit, based in the U.S., and independent (not a subsidiary or division of… Read More →

Childcare pays poverty-level wage, but Arizona still tops most states


Arizona childcare workers were paid less, on average, than parking lot attendants, manicurists and pedicurists in 2015, part of a national trend that saw workers in all states earning salaries that could qualify them for food stamps. And Arizona’s median salary of $20,070 last year for childcare workers was not even the worst in the… Read More →

Bagnall earns spot on the Inc. 5000 list

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth, Nation’s Economy

Inc. magazine ranked Bagnall No. 4,634 on its 35th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— its independent small businesses. Companies such as Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp,… Read More →

Is the FTZ the Valley’s most enticing recruitment tool?


Arizona has definitely gone global. “We want to extend our hand so that Arizona is an inviting place for foreign direct investment and for companies that are looking to relocate,” says Arizona Gov. Doug Ducey. But Arizona hasn’t always been as attractive to global companies. “At one time, we had some issues in the West Valley… Read More →

Fiesta Bowl, Cactus Bowl have $169.4M economic impact


Fiesta Bowl and Cactus Bowl, the two annual college football bowl games hosted in the Valley during the 2015-2016 season, combined to generate an estimated $169.4 million in economic impact, including $79 million in total direct spending for the Valley and more than $7.5 million in direct tax revenue. The breakdown specifically between the two games attributed $111.6 million… Read More →

GPEC predicts $32B economic output from SkySong


SkySong, The ASU Scottsdale Innovation Center is projected to generate more than $32 billion in economic output and more than 10,000 new jobs across the Valley over the next 30 years, according to new analysis performed by the Greater Phoenix Economic Council. The analysis examines the impact of 11 SkySong buildings and a restaurant/retail component… Read More →

STEM professionals needed to fill teaching vacancies

Krauss Honored For Science

Rio Salado College is looking for STEM professionals to re-career as teachers to help Arizona schools meet major shortfalls. “The need for teachers in Arizona is greater than ever,” said Kim Tobey, Rio Salado’s Director of Community Partnerships and Programs. “Arizona has a particular need for science, math, special education and kindergarten teachers, especially in… Read More →

State’s economic growth slowed in 2015, as mining, copper took a hit

Arizona is the largest producer of copper in the U.S. and the drop in demand, and prices, for the metal is being felt in the state, where mining jobs are down in recent years.

Arizona’s economy grew in 2015, but at a much slower rate than it did in 2014, according to the latest report from the Bureau of Economic Analysis. The report said the state’s gross domestic product grew 0.9 percent to reach $294.2 billion in 2015, but that was half the 1.8 percent rate of growth the state… Read More →

Flake: Building ‘fortress America’ won’t help economic growth

Economic growth

America cannot grow economically if it closes the borders to commerce and builds “fortress America,” Sen. Jeff Flake, R-Arizona, said Wednesday at a conference on U.S.-Mexico trade. Flake, the keynote speaker at the Woodrow Wilson Center Mexico Institute’s “Building a Competitive U.S.-Mexico Border” conference, said the strong trade partnership between the U.S. and its southern… Read More →

Arizona ranks as 2nd worst state for Millennials


Based on Moneyrates’ analysis, North Dakota found itself topping of this year’s ranking of the best state for millennials, with Washington claiming the title of worst state. Besides having the lowest unemployment rate for the 20 – 24 age group, North Dakota earned a perfect score for access to high-speed broadband, and was in the… Read More →