Economy Archives

Phoenix Housing Moves Toward ‘Normal’

real estate market

The Phoenix-area housing market – hit especially hard during the recession — appears to be starting its slow march back to normal. The W. P. Carey School of Business at Arizona State University reveals the latest data for Maricopa and Pinal counties, as of July: * The median single-family-home price rose again to $194,150, up… Read More →

Phoenix Housing Moves Toward 'Normal'

real estate market
September 12, 2013 by in Business News | Economy | Real Estate

The Phoenix-area housing market – hit especially hard during the recession — appears to be starting its slow march back to normal. The W. P. Carey School of Business at Arizona State University reveals the latest data for Maricopa and Pinal counties, as of July: * The median single-family-home price rose again to $194,150, up… Read More →

Employers post fewer jobs, but hire more

jobsearchnewspaper

U.S. employers advertised fewer jobs in July but hired more workers, a mixed sign that suggests only modest improvement in the job market. Job openings fell 180,000 in July to 3.7 million, the Labor Department said Tuesday. That’s down from 3.9 million the previous month, which was revised lower. Overall hiring increased to 4.4 million,… Read More →

TREO Luncheon features university presidents

Michael Crow (current)

Tucson Regional Economic Opportunities, Inc. (TREO) will feature state university presidents, Dr. Ann Weaver Hart, of the University of Arizona and Dr. Michael M. Crow, of Arizona State University, at its 8th Annual Luncheon on Wednesday, September 25th at the Westin La Paloma Resort in Tucson. Strong economies are defined by well-paying jobs, held by… Read More →

80 Years Ago, Arizona Voted to Repeal Prohibition

drinking
September 4, 2013 by in Dining | Economy | Featured

Eighty years ago, September 5, 1933, Arizona approved ratification of the 21st Amendment to the U.S. Constitution, ultimately repealing the 18th Amendment and ending Prohibition. Today, the state’s wine and spirits industry supports a multi-million dollar economy, employs thousands of workers, and provides millions of dollars in tax revenue to the state and federal governments.… Read More →

Connextions adding about 500 Jobs in Phoenix

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Connextions, part of the Optum™ health services business of UnitedHealth Group (NYSE: UNH), announced it will fill approximately 500 new jobs in Phoenix in the next 60 days. Connextions, which helps carriers enroll, retain and provide service to their members, has already begun hiring people to work in its new solution center in Phoenix. These… Read More →

Phoenix ranked Top 10 for foreign direct investment

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August 19, 2013 by in Economy | Featured

Greater Phoenix was named one of fDi Magazine’s top 10 “American Cities of the Future” for foreign direct investment (FDI) strategy in 2013/14. Greater Phoenix ranked sixth among overall North and South American cities, and second in the United States behind Chicago. “One of GPEC’s primary objectives has always been an international presence and strong… Read More →

Study reveals Arizonans’ chances of climbing economic ladder

homeless
August 18, 2013 by in Economy | Featured

Location matters when it comes to the chances that a child born into poverty in Arizona will move up the economic ladder during his lifetime, a recent study shows. The study, by researchers at Harvard and the University of California, Berkley, found that a child born into a Phoenix family in the bottom fifth of… Read More →

State’s jobless rate remains unchanged at 8 percent

jobsearchnewspaper

Arizona’s unemployment rate remained at 8 percent in July as the state’s economy lost jobs in both government and private business. Job losses in July totaled 5,500 jobs in the private sector and 9,600 in government, with the most losses recorded in education in government and in leisure and hospitality in the private sector. The… Read More →

State's jobless rate remains unchanged at 8 percent

jobsearchnewspaper

Arizona’s unemployment rate remained at 8 percent in July as the state’s economy lost jobs in both government and private business. Job losses in July totaled 5,500 jobs in the private sector and 9,600 in government, with the most losses recorded in education in government and in leisure and hospitality in the private sector. The… Read More →

Insight Forms Group to Facilitate American-Chinese Business

Avnet - Fortune Global 500

Tim and Eric Crown, Arizona brothers who founded Insight Enterprises, have formed a partnership with Robert Parker, the former Insight Vice President of Financial Services.  Insight Enterprises is a Fortune 500 computer services company with sales in excess of $5 billion in 2012.  Together they formed the Crown Parker Advisory Group, a successful business development… Read More →

GAME Named Manufacturer of the Year in Arizona

Manufacturing Companies

Great American Merchandise and Events (GAME) has been named Outstanding Small/Medium Manufacturer of the Year by the Arizona Manufacturers Council. GAME President Eric Schechter accepted the award at the AMC’s signature event recognizing the achievements and contributions of Arizona manufacturers. “Our factories are getting very good at designing unique circuitry and LED lighting,” Schechter said,… Read More →

Navajo Nation focuses on first casino in Arizona

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August 9, 2013 by in Economy | Featured | Travel

Twin Arrows Navajo Casino Resort, the Navajo Nation Gaming Enterprise’s first casino in Arizona, is expected to be a major economic engine for the Flagstaff area. “Twin Arrows will create a new benchmark in gaming entertainment while improving the economic health and prosperity of the Navajo Nation,” said Derrick Watchman, chief executive officer of the… Read More →

Home prices surge nearly 12 percent in June

home.prices

U.S. home prices surged 11.9 percent in June from a year earlier, reflecting stronger demand amid a tight supply of homes for sale. CoreLogic, a real estate data provider, said Tuesday that home prices climbed on annual basis in 48 states. They fell only in Mississippi and Delaware. And all but one of the 100… Read More →

Report: Immigration reform could boost economy

immigration
August 5, 2013 by in Business News | Economy

WASHINGTON – Passing an immigration reform plan that provides for a pathway to citizenship could create up to 123,680 jobs and boost the gross domestic product by $10.32 billion by 2014, according to a new study. The report by Regional Economic Models Inc. predicted that Arizona alone would see 3,254 new jobs and an additional… Read More →

Mesa, Eastmark land new GCU campus

GCU Campus

Grand Canyon University today officially selected DMB Associates’ newest community, Eastmark in Mesa, as the site for its new, $150M satellite campus. The university will be given the right to purchase 100 acres at Eastmark with an option to add up to 60 adjacent acres for future expansion. Other sites considered for the new GCU… Read More →

Amazon looks to fill jobs in Arizona

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Amazon.com Inc. is looking to fill 7,000 jobs in 13 states. The company says it will add 5,000 full-time jobs at its U.S. distribution centers, which currently employ about 20,000 workers who pack and ship customer orders. The world’s largest online retailer has been spending heavily on order fulfillment, a strategy meant to help the… Read More →

First F-35 Bound for Luke in Final Phase of Production

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The 100th Lockheed Martin F-35 Lightning II, the first aircraft destined for Luke Air Force Base in Glendale, has entered the last stage of final assembly. This conventional takeoff and landing (CTOL) aircraft, known as AF-41, is scheduled to arrive at the base next year. During final assembly, the aircraft structure is completed, and electrical… Read More →

Plaza Lofts at Kierland Sells Last Original Condo

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The Plaza Lofts at Kierland Commons has sold its last original residence, successfully filling the entire luxury condominium community created by Woodbine Southwest. The Plaza Lofts’ sales success reflects the excitement buyers have maintained about the well-appointed loft homes and walkable lifestyle the community offers at Kierland Commons. Originally welcoming guests into the 30-unit Main… Read More →

Shareholders OK US Airways -American merger

AMR-US Airways

US Airways and American Airlines moved closer to creating the world’s biggest airline Friday, as US Airways shareholders overwhelmingly approved their proposed merger. Shareholders of US Airways Group Inc. would get 28 percent of the shares in the combined company, with the rest going to creditors, employees and shareholders of American Airlines parent AMR Corp.… Read More →

Phoenix-area Foreclosure Saga Ending

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The Phoenix-area housing market has finally hit “normal, historical levels” for those going into foreclosure. After years of severe foreclosure trouble, a new report from the W. P. Carey School of Business at Arizona State University reveals that good news and more for Maricopa and Pinal counties, as of May: * The median single-family home… Read More →

Legislative Session Improves Business Landscape in Arizona

online sales tax issue

The Arizona Small Business Association (ASBA), the largest trade association in Arizona representing over 11,000 member businesses in all 15 counties, tracked 65 bills during Arizona’s 51st Legislature (Jan. 14 – June 13, 2013), eight of which were Priority Bills. ASBA has announced all eight Priority Bills passed. “We have a strong sense of responsibility… Read More →

Goodyear backs additional F-35 squadron at Luke

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June 28, 2013 by in Business News | Economy | Tech

Goodyear Mayor Georgia Lord was among a number of state-wide officials during the Department of Defense’s announcement of three additional squadrons to the Air Force’s F-35A Lightning II fighter jet program at Luke Air Force Base. Since the DOD’s initial announcement that Luke AFB will be the training center for the F-35s, cities and community… Read More →

Blue Bell Opens West Phoenix Branch

BlueBell_Stocking_3Gallons

Blue Bell Creameries is expanding in Phoenix with the opening of a branch in West Phoenix. The new full-service, 13,000 square-foot distribution and sales facility at 5175 W. Watkins Rd. in Phoenix went into service this month. A grand opening on Thursday, July 11 at 10:30 am will feature Secretary of State Ken Bennett as… Read More →