economic conditions Archives

Johnson Bank Closing 4 Offices In Arizona

by in Economy | Finance | Workforce

Johnson Bank offices in Phoenix, Mesa Peoria and Rio Verde will close their doors on Jan. 8, 2011, it was announced today. The closings come as a part of the bank’s plan “to maintain the health of the business in the midst of depressed economic conditions,” according to a company press release. Arizona office closing… Read More →

Newly Formed Arizona Commerce Authority Convenes Its Inaugural Board Meeting

Photo from Wikimedia Commons.
by in Blogs | Finance | Workforce

Vowing that “today the rubber hits the road,” Gov. Jan Brewer and Jerry Colangelo assembled and introduced 35 state leaders representing diverse backgrounds for the inaugural board meeting of the Arizona Commerce Authority. The private-sector board will work to align diverse assets and opportunities within the state to compete economically in both domestic and international… Read More →

The Economic Recovery Begins In 2009, But It Will Be Slow Going

money in vice

The national and state economies are expected to start feeling the effects of a recovery during the last quarter of 2009. However, the recovery over the next year will be slow, with unemployment continuing to rise and economic growth anemic at best. Meanwhile, the state’s expenditures are rising, even as revenue continues to fall, setting… Read More →

Despite Weak Economy, Credit Unions Are Providing Financial Assistance To Small Businesses

Small Businesses getting help in down economy

When talking about credit unions and business loans, the key word is small. The percentage of business loans to credit union assets nationally is about 2 percent; business loans in Arizona average about $240,000, compared to $180,000 nationally. And because the loans are relatively small, the focus is on small businesses. Federal law caps credit… Read More →

Southern Arizona Trying To Set The Stage For A Post-Recession Surge

Tucson, Arizona

Like the rest of the state, Southern Arizona has been in a recession since 2007, and at least one prominent economist says the situation won’t be getting better anytime soon. “My forecast is that it’s going to take a while to get (credit markets) straightened out again and functioning as they should,” says Marshall Vest,… Read More →

Wall Street’s Rescue Package Is Changing Tax Laws For Businesses

Wall Street Rescue 2010

The recent financial rescue package signed into law by President Bush on Oct. 3 contains not just $700 billion in federal assistance, but also a number of tax measures that are significant for Arizona businesses. Renewable energy tax incentives The renewable energy tax incentives extension was widely anticipated by the industry. Many states, including Arizona,… Read More →

Housing Crash is Hurting The Valley’s Luxury Real Estate Market


A meticulous five-bedroom, remodeled home sits nestled in one of Paradise Valley’s most beautiful neighborhoods. But the most remarkable thing about this home is not its one-acre lot, new flooring or up-to-date kitchen. It’s the “For Sale” sign that has graced the front yard for two years. Two years, two different realty companies and several… Read More →