Economy Archives

Phoenix-area Housing Prices Keep Soaring

home.prices

Home prices continue their upward climb in the Phoenix area, with more momentum expected until at least June. A new report from the W. P. Carey School of Business at Arizona State University reveals the latest information about the Maricopa and Pinal County housing market, as of March: The median single-family home price was all… Read More →

Stanton pitches Phoenix to Silicon Valley businesses

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Phoenix Mayor Greg Stanton wants businesses in Silicon Valley to relocate to Arizona. Stanton traveled to California this week to sell Phoenix as a prime location for technology and manufacturing jobs. Stanton says Phoenix needs to proactively attract employers. Stanton’s office would not say what companies he is approaching in California because the meetings are… Read More →

Small Businesses Slowly Increasing Economic Activity

Arizona Small Business Association seeks new CEO
April 29, 2013 by in Business News | Economy | Small Biz

Small business owners are showing a willingness to hire more employees amidst signs of expanding business activity, according to the most recent Business Confidence Survey released today by Insperity, Inc., a leading provider of human resources and business performance solutions for America’s best businesses.  More than 40 percent of respondents say they are adding employees,… Read More →

'Deal of the Year' Recognized at May 7 Event

deal
April 25, 2013 by in Business News | Economy | Events

Maybe it didn’t seem like a big deal at the time. Or maybe it did. Either way, it’s about to enter the spotlight. It’s the “Deal of the Year,” an award given by the Association for Corporate Growth-Arizona to recognize a deal or transaction that took place in Arizona in the past year that had… Read More →

‘Deal of the Year’ Recognized at May 7 Event

deal
April 25, 2013 by in Business News | Economy | Events

Maybe it didn’t seem like a big deal at the time. Or maybe it did. Either way, it’s about to enter the spotlight. It’s the “Deal of the Year,” an award given by the Association for Corporate Growth-Arizona to recognize a deal or transaction that took place in Arizona in the past year that had… Read More →

Rich got richer during recovery, report shows

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A new report says the richest Americans got richer during the first two years of the economic recovery while average net worth declined for the other 93 percent of the nation’s households. The Pew Research Center report says wealth held by the richest 7 percent of households rose 28 percent from 2009 to 2011, while… Read More →

U.S. Business Leaders Showing Signs of Optimism

economy
April 12, 2013 by in Economy | Featured

On the heels of a pessimistic outlook during the fourth quarter of 2012, US business leaders show signs of increased optimism in the performance of the nation’s economy according to the latest data from the Grant Thornton International Business Report, a survey of 3,200 business leaders in 44 countries. In first quarter 2013, optimism among… Read More →

U of A President to Speak At AAED Luncheon

Ann Weaver Hart
April 11, 2013 by in Economy | Education | Events | Featured

University of Arizona President Ann Weaver Hart will be the speaker at the Arizona Association for Economic Development (AAED)’s May luncheon on Tuesday, May 7 from 11 a.m. to 1:15 p.m. at the Phoenix Country Club, located at 2901 N. Seventh St. in Phoenix. Hart will discuss the university’s role in economic development throughout the… Read More →

Obama unveils $3.8 trillion spending plan

Barack Obama
April 10, 2013 by in Economy | Politics

President Barack Obama sent Congress a $3.8 trillion spending blueprint on Wednesday that strives to achieve a “grand bargain” to tame runaway deficits, raising taxes on the wealthy and trimming popular benefit programs including Social Security and Medicare. The president’s budget projects deficit reductions of $1.8 trillion over the next decade, achieved with higher taxes,… Read More →

Prices Up, Foreclosures Down, Investors Losing Interest

homes

Phoenix-area home prices are back on their way up again, after a short drop in January. The latest housing report from the W. P. Carey School of Business at Arizona State University shows soaring prices, dropping foreclosures and waning interest from investors looking at Maricopa and Pinal counties, as of February. * The median single-family… Read More →

HSMAI helps hospitality industry fuel sales

sales
March 21, 2013 by in Business News | Economy | Featured

Like most industries, hospitality took a hit during the economic downturn, but the Arizona travel industry started to recover in 2010 and pumped $18.3 billion in direct travel spending into Arizona’s economy in 2011. Helping fuel that economic engine is the Arizona chapter of the he Hospitality Sales and Marketing Association International (HSMAI). “HSMAI’s mission… Read More →

Small sports mean big business in Arizona

triathlon store
March 18, 2013 by in Business News | Economy | Sports

This month, Arizona’s Swimming Showcase is anticipated to draw 300 elite high school athletes — along with thousands of family members and fans — from more than a dozen different states to Mesa. The projected economic impact is more than $600,000 in direct visitor spending over the course of the two-day event.  And that’s just… Read More →

Grand Canyon-sized tax reform

Labor Unions, City of Phoenix

The recent Grand Canyon Institute report “The Effects of Tax Reductions In Arizona: Significantly Reduced Government Revenue and No Apparent Impact on Economic Growth,” dismisses the bipartisan efforts to improve Arizona’s tax competitiveness over the past two decades and defies common sense. Does anyone really believe that Arizona would be better off with significantly higher… Read More →

AAED hosts ‘Workforce Solutions for Economic Success’

Celina Shands Gradijan

The Arizona Association for Economic Development (AAED) will be hosting an economic development forum on Tuesday, April 2 from 8 a.m. to 1:15 p.m. at the Phoenix Country Club, 2901 N. Seventh St. in Phoenix. Celina Shands Gradijan, president and CEO of Full Capacity Marketing, Inc., and Ron Painter, CEO of National Association of Workforce… Read More →

AAED hosts 'Workforce Solutions for Economic Success'

Celina Shands Gradijan

The Arizona Association for Economic Development (AAED) will be hosting an economic development forum on Tuesday, April 2 from 8 a.m. to 1:15 p.m. at the Phoenix Country Club, 2901 N. Seventh St. in Phoenix. Celina Shands Gradijan, president and CEO of Full Capacity Marketing, Inc., and Ron Painter, CEO of National Association of Workforce… Read More →

U.S. adds 236,000 jobs in February

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March 8, 2013 by in Economy | Workforce

A burst of hiring last month added 236,000 U.S. jobs and reduced the unemployment rate to 7.7 percent from 7.9 percent in January. The robust gains suggested that the economy can strengthen further despite higher taxes and government spending cuts. The February jobs report issued Friday provided encouraging details: The unemployment rate is at its… Read More →

Brewer, GM announce Chandler Innovation Center

Jan Brewer

Michigan-based General Motors (GM), together with Governor Jan Brewer, Chandler Mayor Jay Tibshraeny, the Arizona Commerce Authority (ACA) and the Greater Phoenix Economic Council (GPEC), announced today GM has selected Chandler as the site of its fourth Information Technology Innovation Center.  These IT Innovation Centers enable GM to in-source the company’s innovation capabilities, strengthening its… Read More →

GPEC analyzes impact of potential defense cuts

boeing-phantom-ray
February 26, 2013 by in Economy | Featured | Tech

The Greater Phoenix Economic Council today released findings and recommendations from its Aerospace and Defense Market Intelligence Program, a two-phase initiative that took an in-depth look at the region’s aerospace and defense companies to determine their strengths, weaknesses and readiness for the sequestration, federally-mandated automatic spending cuts scheduled to take place on March 1 unless… Read More →

How could budget cuts impact Arizona?

marketing budget

The White House released a list of impacts to Arizona from automatic budget cuts that are set to take hold this week. The White House compiled the numbers from federal agencies and its own budget office. The numbers reflect the impact of the cuts this year. Unless Congress acts by Friday, $85 billion in cuts… Read More →

Arizona university research has $1 billion impact

banner alzheimers foundation - brain research

A new report shows that Arizona’s economy benefits by more than $1 billion from research at the state’s public universities. To put that in perspective, that is the economic impact equivalent of hosting more than four Super Bowls a year. The Arizona Board of Regents recently released its research report that covers 2012. It details… Read More →

Software firm picks Valley as U.S. HQ

Stealth Software CEO Gerard Warrens.

Stealth Software CEO Gerard Warrens announced Tuesday that the Netherlands-based company will locate its United States headquarters in Arizona, which the company selected over Austin, New York and Silicon Valley. The software development and marketing company based in Luxembourg announced plans to open its U.S. headquarters and hire 200 people in metropolitan Phoenix. Warrens said… Read More →

Brewer’s sales tax overhaul passes 1st House hearing

Jan Brewer

A proposal that would overhaul Arizona’s complex sales tax collection process got a strong endorsement from business leaders before unanimously passing its first Arizona House committee Monday. The proposal from Gov. Jan Brewer is designed to ease the burden on businesses, and business leaders hailed the bill for its intent of cutting red tape and… Read More →

Brewer's sales tax overhaul passes 1st House hearing

Jan Brewer

A proposal that would overhaul Arizona’s complex sales tax collection process got a strong endorsement from business leaders before unanimously passing its first Arizona House committee Monday. The proposal from Gov. Jan Brewer is designed to ease the burden on businesses, and business leaders hailed the bill for its intent of cutting red tape and… Read More →

Arizona considers film tax breaks

movie
February 13, 2013 by in Business News | Economy

Arizona lawmakers looking to woo Hollywood are flirting with resurrecting a tax incentives program aimed at competing with New Mexico and other states that have long thrown free cash at production companies that film there. A Senate committee unanimously approved the bill on multimedia production tax credits Wednesday after local film and tourism leaders argued… Read More →