Economy Archives

Female leaders rise up in Arizona tourism industry

HSMAI - Tourism

It might surprise people to know that tourism generates more money for Arizona than aerospace, agriculture, microelectronics and mining. And leading that $20-billion-a-year economic juggernaut are a bunch of women. Debbie Johnson is president and CEO of the Arizona Lodging & Tourism Association, Sherry Henry is executive director of the Arizona Office of Tourism and… Read More →

Hiring military veterans adds competitive edge

veterans

During his military career, Capt. Eric Engquist negotiated mortar attacks, roadside bombs, ambushes and rocket grenades in the Iraqi desert, employing strategic planning and problem solving skills under extreme pressure. After eight years as an Army infantry officer, Engquist left the military to join corporate America, bringing those skills with him. Today he is the… Read More →

Age is his advantage, says BMO Harris leader

STEVEN ZANDPOUR: “The economic health of Arizona is definitely improving and the long term outlook is positive,” said the Arizona regional president for BMO Harris Bank. “This positive outlook, combined with our solid business plan, provides us a great opportunity for growth.” Photo by Shavon Rose, AZ Big Media

Steven Zandpour, the 38-year-old Arizona regional president for BMO Harris Bank, thought he has a sure-fire career blueprint to follow. “My cousin was in banking while I was in college and his goal was to ultimately own a business,” Zandpour said. “He told me that he was learning a lot about what banks look for… Read More →

AzLTA capitalizes on state’s ability to host big events

arizona

Debbie Johnson thought she was just coming for a race at Phoenix International Raceway when she visited Arizona in April of 1986. “I was living in Wyoming at the time,” recalls the president and CEO of the Arizona Lodging & Tourism Association (AzLTA). “We flew back into Denver to drive up to Wyoming and got… Read More →

Taking advantage of Arizona’s R&D tax credit

taxes

Research and development (R&D) tax credits are available to companies that bear the financial risk of developing new or improved products or processes. And claiming them can be lucrative, since they offset a company’s tax liability, making more cash available to invest in ongoing projects. Companies that perform qualified R&D and meet certain requirements can… Read More →

Super Bowl’s impact on economy may last long after game

Arizona Super Bowl Host Committee CEO Jay Parry. Photo by Shavon Rose, AZ Big Media

Early in the planning process for the 2015 Super Bowl, Arizona Super Bowl Host Committee CEO Jay Parry was giving a presentation to Greater Phoenix Leadership and she referred to some of national perceptions of Arizona as “misperceptions.” “An individual walked up to me after the presentation and said, ‘You did a great job, but… Read More →

Increase cash flow and bottom line in 2015

business practices

As 2014 comes to a close it is important to reevaluate your business model and consider the steps you need to take in the New Year to increase cash flow and boost your bottom line. Cash flow is crucial to a company’s survival. Having sufficient funds on hand will not only ensure that creditors, employees… Read More →

Arizonans’ holiday spending tops national average

holiday.shopping

Arizona residents plan to open their wallet wider than much of the rest of the country by spending an average of $1,248 over the holidays; that’s more than 10 percent higher than the national average of $1,129, both figures according to the BMO Harris Bank Holiday Spending Report. Slightly more than one-third (36 percent) report… Read More →

Pinnacle West declares quarterly dividend

energy.bill

Pinnacle West Capital Corporation’s Board of Directors today declared a quarterly dividend of $0.595 per share of common stock, payable on March 2, 2015, to shareholders of record on February 2, 2015. Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of about $14 billion, nearly 6,400 megawatts of generating… Read More →

Rosalinda Apartments sells in Phoenix for $545K

Rosalinda Court Apartments_9-Units_Globe Street
December 17, 2014 by in AZRE Magazine | Economy | Featured

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, recently closed the transaction for Rosalinda Apartments, a 9-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $545,000 equates to $60,556 per unit or $61.44 per square foot. Jack A. Cardinal, a Managing Director of the… Read More →

Experts: Tucson economy is set to grow in 2015

An Aerial Shot of Downtown Tucson, Arizona

Things are looking up for Tucson, with an economy that is set to grow in 2015 and 2016. That was one of the key takeaways from today’s University of Arizona Eller College of Management annual Economic Outlook Forecast Luncheon at the Westin La Paloma Resort in Tucson. Some 540 people packed the room to hear… Read More →

Consortium buying PetSmart for $83 per share in cash

doggies, web

PetSmart, Inc. announced that it has entered into a definitive agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash, representing a premium of approximately 39% over PetSmart’s unaffected closing share price on July 2, 2014. The consortium includes Funds advised by BC Partners… Read More →

UA’s Phoenix campus has nearly $1 billion economic Impact

phoenix

University of Arizona President Ann Weaver Hart and Phoenix Mayor Greg Stanton today announced that the economic impact of the UA’s downtown Phoenix academic medical center in 2013 was $961 million, according to a report released by nationally recognized consultants Tripp Umbach. “Our College of Medicine and the academic medical center have become key generators… Read More →

Arizona business owners optimistic for 2015

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth

BMO Harris Bank released a study that found that business owners and executives in Arizona were optimistic about the prospects for the state’s economy in the coming year. Eighty-six percent of respondents feel Arizona’s economy will grow or stay at the same level in 2015 (39 percent say it will improve, 47 percent think it… Read More →