Economy Archives

Love-It or Hate-It Brands Are Less Risky

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Are you a big fan of Apple or Nike, or a hater of McDonald’s? A new study from the W. P. Carey School of Business at Arizona State University shows love-it or hate-it brands probably won’t perform exceptionally well in the stock market, but they also offer investors less risk because you know just what… Read More →

Brewer OKs tax cut law for manufacturers

manufacturing sector expanded

Arizona Gov. Jan Brewer on Friday signed into law a bill that eliminates sales taxes on electricity and natural gas purchased by manufacturers and mining smelters, a move she said was needed to make the state more attractive to large businesses. Brewer signed Senate Bill 1413 at a Capitol ceremony attended by a couple of… Read More →

Davis-Monthan packs economic impact of $973 million

Aerospace and defense industry - AZ Business Magazine March/April 2012

Davis-Monthan Air Force Base in Tucson reports that its operations had an estimated total economic impact of $973 million in the 2013 fiscal year. That’s down from about $1.14 billion in the 2012 fiscal year. Including the effect of local military retirees, Davis-Monthan officials say the base pumped $1.47 billion into the Tucson-area economy in… Read More →

Phoenix ranks 7th for job growth

Job

Unemployment and job growth continue to capture attention as the U.S. economy rebounds from the Great Recession. This week, the final, revised numbers on state and city job growth for the year 2013 as a whole are out. Research Professor Lee McPheters of the W. P. Carey School of Business at Arizona State University provides… Read More →

Spring Training means big business

baseball

In 2012, the Arizona Commerce Authority, Arizona Office of Tourism, Arizona Sports and Tourism Authority, Cactus League Association, and a coalition of municipalities that host the Cactus League funded two different studies, conducted by Elliott D. Pollack & Co. and FMR Associates of Tucson, to examine the economic impact of the Arizona Cactus League. The… Read More →

TGen recognized as ‘2014 Economic Driver’

economic development - 8 honored

The Greater Phoenix Chamber of Commerce has selected the Translational Genomics Research Institute (TGen) for one of its 2014 Impact Awards. TGen was selected among small to medium business in the category of 2014 Economic Driver. “These companies represent the spirit of the entrepreneur — a spirit that truly makes an impact on our community… Read More →

Quik Tek Assembly Expands into Tucson

manufacturing

Quik Tek Assembly, a minority-owned provider of contract manufacturing services, announced that it has expanded operations to the Tucson region. Quik Assembly Solutions, a division of Quik Tek Assembly, has leased an 8,000 square-foot building at 3450 S. Broadmont, Suite 120, and plans a $700,000 capital investment. The new facility will be open by April… Read More →

Phoenix Home-Price Rebound May Be Over

housing.prices

The big home-price rebound in the Phoenix area may officially be over. For the first time since last summer, the market experienced a month-to-month decrease in the median single-family-home sales price. A new report from the W. P. Carey School of Business at Arizona State University reveals that and other details about Maricopa and Pinal… Read More →

GPEC Board Commends Brewer for Veto

Jan Brewer

The Chairman of the Greater Phoenix Economic Council (GPEC) Board of Directors James H. Lundy, along with President & CEO Barry Broome, have sent a letter to Governor Janice K. Brewer to personally thank her for her action on Senate Bill 1062. “Today is a good day for Arizona,” said GPEC President & CEO Barry… Read More →

Arizona in running for Tesla battery factory

manufacturing

Electric car maker Tesla Motors said Wednesday it’s considering sites in Nevada, Arizona, New Mexico and Texas for a massive battery factory that would employ around 6,500 people. The company didn’t immediately name the locations it’s considering in those states. Tesla plans to start construction this year and complete the factory — which it dubs… Read More →

Phoenix-area Housing Market Officially in Slowdown

Sandra Wilken Luxury Properties

Expect those big price increases we’ve seen for Phoenix-area homes to slow down, possibly even stop or reverse a little this year. A new report from the W. P. Carey School of Business at Arizona State University predicts two-plus years of large gains to come to an end in 2014. The latest data for Maricopa… Read More →

America’s no good, very bad corporate income tax

tax

Arizona is doing all it can to develop a more competitive tax environment in order to attract jobs, but we’re getting no help from the feds. The state over the last few years has scratched and clawed its way on the road to economic recovery. Staring down 300,000 lost jobs since the beginning of the… Read More →

Arizona Poised to See Above-Average Growth

Economic concepts
February 5, 2014 by in Economy | Featured

Thanks to strong improvement in housing prices and improved population in-flow, Arizona should expect above-average growth through the year, according to the bi-annual U.S. State Monitor Report from BMO Economics. Expected real GDP growth in the state is 3.2 percent, up from a 1.8 percent rate currently expected for 2013. Nonfarm payrolls in Arizona were… Read More →

1 financial crisis would cripple most AZ households

Ways to Boost Financial Performance in Face of Economic Uncertainty
January 30, 2014 by in Business News | Economy

Despite an improving national economy, 45.7 percent of Arizonans are in a persistent state of financial insecurity, according to a report released today by the Corporation for Enterprise Development (CFED). The number of households who have little or no savings to cover emergencies or to start building a better life has barely budged from last… Read More →

National Site Selectors Visit Greater Phoenix Region

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January 30, 2014 by in Business News | Economy

Site selection consultants from across the country will participate in a panel discussion moderated by Greater Phoenix Economic Council (GPEC). The panel members participating have extensive backgrounds in corporate site selection, with expertise ranging from domestic and international site selection to location analysis and target industry analysis. Companies often hire site selectors to help choose… Read More →

Goodyear earns award for fiscal responsibility

Arizona Business Financing

For the 13th straight year, the city of Goodyear won the Distinguished Budget Presentation Award from the Government Finance Officers Association, highlighting the city’s long-standing methods of fiscal responsibility. It also marks the 18th time overall that Goodyear has won the GFOA award. Goodyear Finance Director Larry Lange accepted the award for the city. “It’s… Read More →

Webinar teaches you to utilize R&D tax credit

stem.cell
January 14, 2014 by in Economy | Featured | Tech

Arizona now offers the single most generous R&D credit in the nation. While most states have an R&D credit rate of about 5 percent, Arizona’s is at 24 percent, which even exceeds the maximum federal R&D credit rate of 20 percent. But Arizona holds another special distinction in the realm of R&D credits – it… Read More →

The politics of economic growth

Thomas Lavalette
January 13, 2014 by in Economy | Featured | Politics

This is a turning-point election for Arizona. Seven candidates seek the governor’s post, the most important elected position in Arizona. Economic development and business leaders are concerned about the state’s image in the global market and what it will take to make the area competitive in the next economy. The new governor will need to… Read More →

Phoenix Housing Market Stuck in Neutral

housing.prices
January 10, 2014 by in Economy | Featured | Real Estate

Maybe the new year can bring some new energy to the Phoenix-area housing market? A new report from the W. P. Carey School of Business at Arizona State University shows stagnation as 2013 came close to an end. The latest data for Maricopa and Pinal counties, as of November, shows: > Price gains continuing to… Read More →

As the Job Market Improves, College Enrollments Shift

college graduates
December 23, 2013 by in Economy | Education | Featured

Six years ago, the United States plunged into a recession that reshaped the economic, political and social landscape. Although the end of the recession was declared a year and a half after it began, the U.S. is still recovering from the long-lasting effects as we attempt to return to pre-recession levels of GDP and unemployment.… Read More →

Phoenix Housing Market Quiets Down

housing.prices
December 12, 2013 by in Economy | Featured | Real Estate

The Phoenix-area housing market is quietly ending the year, with a drop in demand and activity. A new report from the W. P. Carey School of Business at Arizona State University provides the latest data for Maricopa and Pinal counties, as of October: * The median single-family-home price was up 27 percent, to $200,000, since… Read More →

Arizona Still 2 to 3 Years from Full Economic Recovery

Arizona Economic Forecast 2011

You can expect more slow growth in Arizona next year, but we’re still two to three years away from full economic recovery. That’s according to experts today at the 50th annual Economic Forecast Luncheon co-sponsored by Arizona State University’s W. P. Carey School of Business and JPMorgan Chase. About 1,000 people attended the event at… Read More →

Wage laws hurt young and poor

money management
November 27, 2013 by in Columnist Spotlight | Economy | Featured

President Obama this year has been making noise about wanting to hike the federal minimum wage to $9 per hour and then indexing the wage to inflation. That means the hourly wage would go up every time the cost of living goes up. The latest Gallup poll finds that over 75 percent of Americans would… Read More →

Phoenix Joins Initiative to Promote Global Trade

microchip technology
November 22, 2013 by in Economy | Featured

The Greater Phoenix Economic Council announced the region has been selected as one of eight metro areas in the country to join a new exchange network created by the Global Cities Initiative, a joint project of Brookings and JPMorgan Chase. The Exchange is a network of metropolitan areas committed to promoting greater global trade and… Read More →