Economy Archives

OnTrac bringing 850 jobs to Chandler

deal
June 26, 2013 by in Business News | Economy

OnTrac, the leader in regional overnight package delivery service in the eight Western States, is moving its corporate headquarters to Chandler. The new offices are located in the Price Corridor at 2501 S. Price Road. The new building provides the company with additional space and the opportunity for future growth. It will also allow OnTrac… Read More →

Comerica Bank’s Arizona Index Up in April

Grant Thornton Business Optimism Index

Comerica  Bank’s Arizona Economic Activity Index climbed slightly in April, rising 0.2 percentage points to a level of 95.0. The  April  index  reading  is  23.7 points, or 33 percent, above the index cyclical  low  of 71.3. The index averaged 87.2 points for all of 2012, 8.7 points above the average for full-year 2011. “Our  Arizona… Read More →

Home prices increase by most in 7 years

fulton

U.S. home prices jumped 12.1 percent in April from a year ago, the most since March 2006. More buyers and a limited supply of available homes have lifted prices in most cities across the country, a sign of a broad-based housing recovery. “The increase in the number of people looking for a new home often… Read More →

1 In 5 Americans Have Less Than $100 In Savings To Cover An Emergency – Infographic

Household Rainy Day Funds Still in Short Supply - Infographic
June 21, 2013 by in Banking | Economy | Finance | Infographics

The annual CashNetUSA survey of 1,000 Americans conducted by online lender CashNetUSA shows 22 percent of Americans have less than $100 in savings to cover an emergency expense while 46 percent report having less than $800. The survey documents a consistent percentage of individuals with varying socio-economic backgrounds living paycheck to paycheck again this year.… Read More →

Terminix Bringing 300 Jobs to Glendale

Westgate Entertainment District

iStar Financial announced today that Terminix, the world’s largest pest control provider, will open a new customer care center at Westgate Entertainment District in October that will bring as many as 300 jobs to Arizona and help invigorate activity within the office buildings of the Entertainment District. At 32,800 square feet, the deal is the… Read More →

GPEC targets international business executives

GPEC Forum
June 20, 2013 by in Business News | Economy

The Greater Phoenix Economic Council (GPEC) this week officially launched an international toolkit and forum series, called “Doing Business in Greater Phoenix, U.S.A,” with additional support from the City of Phoenix. The toolkit is designed to assist foreign companies with investment and expansion decisions in the United States and, specifically, the Greater Phoenix region. From… Read More →

Coalition Formed to Combat Proposed EPA Regulations

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June 18, 2013 by in Business News | Economy | Energy | Politics

A group of Arizona business leaders and politicians announced that they have created a coalition to address proposed regulations on the Navajo Generating Station. The Arizona Coalition for Water, Energy and Jobs said in a press conference on Tuesday that regulations proposed by the U.S. Environmental Protection Agency, if implemented, will have an adverse effect… Read More →

Arizona lawmakers adopt sales tax overhaul

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The Arizona Legislature adopted a major overhaul of the state’s complicated sales tax collection system in the final hours of the session Thursday night after a deal with cities and towns removed a major roadblock. Municipalities led by the League of Arizona Cities and Towns were able to hold off the overhaul after raising concerns… Read More →

CFOs Show Growing Confidence in U.S. Economy

Arizona Business Financing

During the past year, chief financial officers (CFOs) have grown significantly more confident in the U.S. economy, according to the 2013 Spring CFO Survey from Grant Thornton LLP. The survey findings reveal that 45 percent of respondents believe the state of the U.S. economy will improve during the next six months, compared to just 31… Read More →

GPEC hosts forum with 4 new companies

GPEC Forum
May 28, 2013 by in Business News | Economy | Events

On May 29, the Greater Phoenix Economic Council (GPEC) will host a forum featuring some of its locates, or businesses that GPEC and its partners have assisted in expanding or relocating to the Greater Phoenix region. The companies, who have relocated or expanded from Minnesota, New York, Canada and the Netherlands, will discuss their decision… Read More →

Phoenix leads nation in home price increase

housing.prices

U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover. The Standard & Poor’s/Case-Shiller home price index released Tuesday also showed that all 20 cities… Read More →

Restaurants serve super-sized economic impact

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Think about the celebration that occurred after Arizona was awarded  the 2015 Super Bowl. Much of that excitement came because of the economic impact the Super Bowl will have on the state. But the restaurant industry in Arizona generates revenue equivalent to hosting two Super Bowls a month. “Restaurants are critical to Arizona’s visitor industry… Read More →

Tempe lands state's largest office development deal

Tempe Town Lake July 4th Festival

The City of Tempe announced today that Ryan Companies US, Inc. and Sunbelt Holdings will develop a site owned by Arizona State University adjacent to Tempe Town Lake, subject to City Council approval of development agreement details in the coming month. State Farm will lease office space and anchor the multi-use development. “We are thrilled… Read More →

Tempe lands state’s largest office development deal

Tempe Town Lake July 4th Festival

The City of Tempe announced today that Ryan Companies US, Inc. and Sunbelt Holdings will develop a site owned by Arizona State University adjacent to Tempe Town Lake, subject to City Council approval of development agreement details in the coming month. State Farm will lease office space and anchor the multi-use development. “We are thrilled… Read More →

$2.2 billion Maricopa County budget advances

economic development - 8 honored

The Maricopa County Board of Supervisors has advanced a $2.2 billion budget proposal that would lower spending, reduce taxes and increase employee pay. Arizona’s most populous county plans to decrease its spending by $82.4 million next year. The proposed budget also includes the first employee pay increase in five years. The county employs about 13,000… Read More →

Phoenix, Buckeye high among top population gainers

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Two Arizona municipalities rank among the fastest-growing U.S. cities and towns during the year that ended last July 1. The Census Bureau reports that Phoenix had the sixth-largest population increase in terms of numbers, increasing its population by nearly 25,000. Phoenix’s estimated population last July 1 was just under 1.5 million. Meanwhile, the West Valley… Read More →

Tax reform aims to help small businesses

taxes

During the State of the Union address, President Obama said that tax reform is a key issue for small businesses today. Specifically, the president stressed that many small businesses are overwhelmed with administrative tasks associated with tax filing and deserve the opportunity to focus on strategic areas of their business that could help them grow… Read More →

Rebound for Arizona and U.S. Slows Down

Arizona Is Losing Economic Grounds To Other Southwestern States, 2008

Jobs, home prices and population growth are all slowly rebounding in Arizona. However, experts from the W. P. Carey School of Business at Arizona State University say we still have a long way to go, and the automatic federal budget cuts known as the sequester aren’t helping our momentum. The experts delivered their forecasts today… Read More →

Sales up, income down

sales.tax

Reading the latest business news, you might be surprised to find articles highlighting large corporations with increasing sales and decreasing income. This prompts the question, how is it possible for a company to sell more but make less? Business managers often assume if the company can increase its sales, it will have an increase in… Read More →

Brewer Declares May 'Arizona Small Business Month'

Jan Brewer

Arizona State Governor Janice K. Brewer approved the Arizona Small Business Association’s (ASBA) proclamation to declare May 2013 “Arizona Small Business Month.” The proclamation will be presented at ASBA’s 1st Annual Arizona Small Business Conference on May 16 at The Phoenician Resort in Scottsdale during the “State of Small Business Breakfast.” Speaking at the State… Read More →

Brewer Declares May ‘Arizona Small Business Month’

Jan Brewer

Arizona State Governor Janice K. Brewer approved the Arizona Small Business Association’s (ASBA) proclamation to declare May 2013 “Arizona Small Business Month.” The proclamation will be presented at ASBA’s 1st Annual Arizona Small Business Conference on May 16 at The Phoenician Resort in Scottsdale during the “State of Small Business Breakfast.” Speaking at the State… Read More →

Youngtown becomes GPEC’s 21st member community

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May 8, 2013 by in Business News | Economy

The Town of Youngtown recently joined the Greater Phoenix Economic Council (GPEC) as its 21st member community. Youngtown is located at the Agua Fria River between Peoria, Sun City and El Mirage, and has a current population of approximately 6,200. “We’re thrilled to have the Town of Youngtown on board at GPEC,” said GPEC President… Read More →

Twin Arrows Navajo Casino Resort Opens Memorial Weekend

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The Navajo Nation Gaming Enterprise (NNGE), announced that the grand opening of its Twin Arrows Navajo Casino Resort, located along I-40, exit 219, just east of Flagstaff, Ariz., will take place May 24, 2013. Grand opening events throughout Memorial weekend will highlight rich Navajo traditions while showcasing the property’s state-of-the art gaming, luxurious resort accommodations,… Read More →

Do we have a clue of what financial stability is?

economy

It’s been nearly 5 years since we experienced the “Great Recession” and still we struggle to find the answers to stabilize the markets.  Since the recession we have experienced stricter bank regulations, continued government spending, high unemployment, struggling homeowners, and consumer confidence is still low. The crisis was tragic and because of its severity we… Read More →