GROWTH ISN’T JUST IN HOUSING ANYMORE
Recently, there was a national report released by the U.S. Conference of Mayors which indicates that Phoenix will be among the fastest growing metro regions in 2014. Stop me if you’ve heard this one before: That report suggests the housing industry will drive the Valley’s growth with a 3.3 percent gross metropolitan product and a 2.8 percent employment growth during 2014.
But don’t be quick to assume all the Valley’s economic growth will come from the housing industry. Mayor Greg Stanton has spearheaded a second bioscience campus that will make North Phoenix a research hub and hotbed for bioscience jobs. And the Greater Phoenix Economic Council, which is celebrating 25 years as an economic catalyst for the region, is capitalizing on California’s increase on personal income tax and is working with the leaders of about 35 California companies and selling the benefits of relocating their businesses to Arizona. Those companies range in size from 300 to 10,000 employees and represent industries like financial services, manufacturing, life sciences and technology.
You can read about GPEC’s efforts and accomplishments in the GPEC supplement inside this issue. You can also read about how economic development groups like GPEC are collaborating with the leaders of the tourism industry to market the state as a destination for both recreation and business.
Before you delve into this amazing issue, I want to close by wishing the folks at GPEC a happy birthday. Thank you for an amazing 25 years.
Editor in chief