Economy Archives

Affluent Arizonans will spend $13K on vacations this year serezniy

BMO Private Bank, a part of BMO Financial Group, released the results of a study today profiling the vacations of high-net-worth Arizonans. The study is part of BMO Private Bank’s Changing Face of Wealth series, examining trends among affluent Americans (those with more than $1 million in investible assets). According to the study, Arizona’s affluent… Read More →

FirstBank increases Arizona deposits by more than 32%

Arizona Green Jobs Increase

FirstBank Holding Company, with 16 banking locations throughout Arizona, has announced its 2015 second quarter financial results for its Phoenix, East and West Valley markets. As of June 30, the FirstBank branches in Arizona increased deposits by 32.8 percent from $228.4 million in 2014 to $303.4 million in 2015. The bank also saw significant growth… Read More →

GPEC attracted 6,200 jobs during last fiscal year


The Greater Phoenix Economic Council (GPEC) saw another record-breaking year for the Greater Phoenix region as GPEC worked with its 22 member communities with the location and expansion of 32 companies over the course of the fiscal year ending June 30th.    Those companies will add more than 6,200 jobs across Greater Phoenix during the… Read More →

Report: Arizona receives a C for manufacturing


Arizona has received a C grade for its manufacturing industry and D in logistics, says new report from Ball State University. The 2015 Manufacturing and Logistics Report, prepared by Ball State’s Center for Business and Economic Research (CBER) for Conexus Indiana, the state’s advanced manufacturing initiative, shows how each state ranks among its peers in… Read More →

Banner Health finalizes Payson Regional merger


Banner Health announced that the merger of Mogollon Health Alliance (MHA) into Banner has been consummated and a definitive agreement has been signed with Payson Hospital Corporation.  Banner will assume operation of the 44-bed Payson Regional Medical Center on August 1, 2015. No interruptions in services are anticipated during this transition. “We were anxious to… Read More →

Super Bowl pumps $719 million into Arizona’s economy


Super Bowl XLIX scored big for Arizona’s economy. A study completed by the Seidman Research Institute, W.P. Carey School of Business at Arizona State University, determined that Super Bowl XLIX, the 2015 Pro Bowl and related events produced a gross economic impact of $719.4 million in the region. The announcement was made today at The… Read More →

Arizona trade mission builds confidence with Mexico

Trucks CrossingBorderat Nogales

President and CEO of the Greater Phoenix Economic Council (GPEC), Chris Camacho, joined Governor Doug Ducey in Mexico City for an important trade mission last week, with more than 40 business, university and government leaders – including GPEC board members Sharon Harper of The Plaza Companies, David Rousseau of SRP and University of Arizona President… Read More →

Enterprise Bank to inject capital into Arizona projects qvist

Enterprise Financial CDE, LLC, the community development entity of Enterprise Financial Services Corp (NASDAQ: EFSC), has been selected by the CDFI Fund of the U.S. Department of Treasury to receive a $65 million allocation of New Markets Tax Credits (NMTC). In Phoenix, Enterprise Bank & Trust is actively seeking investment opportunities for a portion of… Read More →

Inpro Corporation expands manufacturing to Mesa


 Inpro CorporationTM recently acquired Fireline 520TM, LLC, one of the nation’s premier designers and manufacturers of fire barriers for expansion joints, to broaden their life-safety offerings, within Inpro’s JointMaster Division. Now, in addition to the Fireline 520 facility in Buffalo, New York, they are manufacturing Fireline 520 products out of their Mesa, Arizona facility, underscoring… Read More →

Tech-friendly scene makes Arizona a data center hot spot

IO President Anthony Wanger.

Phoenix has its head in the clouds. Digital information—everything from financial and medical accounts to media entertainment and social networks—is now being stored in about 60 high-tech data centers throughout the Phoenix metro area, adding to the state’s growing reputation in the technology industry. Renewable energy, geo-stability and tech-friendly legislation are a few of the… Read More →

Mt. Baker Vapor relocates to Mesa


Mt. Baker Vapor has officially announced their plans to relocate their operations from Bellingham, Wash. to Mesa after the introduction of legislation seeking taxation on the sale of their products, ultimately impacting Mt. Baker Vapor’s operations. Founded in March 2011, Mt. Baker Vapor has grown rapidly alongside the burgeoning vaping movement. They have the distinction… Read More →

16 Arizona companies make Fortune 1000 list

economic development - 8 honored

Sixteen Arizona-based companies earned spots on the Fortune 1000 list, a reference list of the 1,000 largest American companies, ranked on revenues alone. The 16 Arizona companies on the Fortune 1,000: No. 108 Avnet, Phoenix No. 137 Freeport-McMoRan, Phoenix No. 323 Republic Services, Phoenix No. 386 PetSmart, Phoenix No. 493 Insight Enterprises, Tempe No. 502 Northern Tier Energy,… Read More →

St. Luke’s $125,000 grant boosts living wage initiative

Money Tree, WEB

The Arizona Community Action Association (ACAA) will use a $125,000 St. Luke’s Health Initiative (SLHI) innovation grant to design and implement Raise Arizona, a statewide living wage initiative to identify, recruit, certify and recognize employers that pay a living wage. In total, SLHI awarded grants totaling $475,000 to ACAA, City of Phoenix-FitPHX, Cultivate South Phoenix… Read More →

Tucson economy expected to outpace U.S. by 2017

money pile

Tucson’s economic growth is expected to outpace the national economy by 2017. That was a key message during today’s University of Arizona Eller College of Management 2015 Mid-Year Economic Update Breakfast at the Westin La Paloma Resort in Tucson. More than 330 people attended the event to hear presenters George W. Hammond, Ph.D., director and… Read More →