Tag Archives: u s census bureau

CottonField.PhoenixAZ.140320

Goodyear ranks as 6th fastest-growing city in the U.S.

The city of Goodyear is the sixth fastest-growing city in the United States, according to rankings released by the U.S. Census Bureau.

The Census Bureau ranked the top 15 fastest-growing cities in the U.S. with San Marcos, Texas coming in as No. 1. The town of Gilbert, which came in at No. 12, was the only other municipality in Arizona to make the list. Many of the other ranked cities were in Texas and throughout the West.

The ranking comes just weeks after the Boulder, Colorado-based National Research Center completed the Goodyear Citizen Satisfaction Survey in which the city received numerous high marks. Among the high grades Goodyear received from residents include: being considered a good place to live (95 percent approval); fire and police departments were near or above 90 percent; and feeling safe in neighborhoods was at a whopping 97 percent.

Goodyear Mayor Georgia Lord said she believes that the ranking strengthens the validity of the citizen satisfaction survey, and that Goodyear will continue to be a fast-growing city.

“The ranking goes to show you that Goodyear is a not only a good place to live, work and play, but that the city continues to attract people of all ages,” Mayor Lord said. “We not only have a highly-educated workforce [20 percent have bachelor degrees] and one of the highest average incomes in the state [$73,000], but also a wide-array of job opportunities and housing.”

Goodyear’s population, which currently is 73,832, soared 245 percent between 2000 to 2010, according to the American Community Survey year estimates.
“If you move to Goodyear, it’s by choice,” Mayor Lord added. “People move here because they want to live here and retire here.”
To view the entire list of fastest-growing cities, go to: http://abcnews.go.com/US/wireStory/census-bureau-fastest-growing-cities-2012-13-23829449.

86808805

Data Reveal Arizona Women Paid Less Than Men in Nearly Every Congressional District

WASHINGTON, D.C. – An unprecedented analysis of U.S. Census Bureau data shows that the gender-based wage gap affects women in nearly every corner of the state. In fact, in all but one district in Arizona, there is a gap between the wages of women and men. This is the first-ever analysis of these data by congressional district, providing a unique opportunity for Arizona’s women, families and lawmakers to consider the local impact of disparities in pay.

The analysis was conducted by the National Partnership for Women & Families. The overall gender-based wage gap in Arizona and the breakdown for each of the state’s congressional districts can be found here. The full analysis includes data for all 50 states and all 435 congressional districts in the country.

“It is stunning and deeply troubling to learn that the wage gap affects women in nearly every congressional district in the country. Women and their families are losing critical income for food, gas, rent, health insurance and more due to a punishing gender-based wage gap that has plagued this country for decades,” said Debra L. Ness, president of the National Partnership. “This new data should be a clear and resounding wake-up call for all lawmakers who have the power to pass legislation that would help close the gap and promote economic security for the women and families in their districts.”

According to the analysis, the median yearly pay for women in Arizona is $6,496 less than the median yearly pay for Arizona men, or 85 cents for every dollar.

Nationally, full-time working women are paid only 77 cents for every dollar paid to full-time working men, according to Census data. According to the new analysis, the congressional districts with the largest gender-based, cents-on-the-dollar pay differences are found in Louisiana, Virginia, New Jersey and West Virginia. The two districts with the largest wage gap are in southern Louisiana; women there are paid just 61 cents for every dollar paid to men.

The Paycheck Fairness Act would close loopholes in the Equal Pay Act and establish stronger workplace protections for women. In the last two Congresses, the U.S. House of Representatives passed it, but it fell two votes short of moving forward in the Senate in 2010. It was reintroduced in the current Congress but blocked by a procedural vote in June of this year.

“The wage gap is taking a tremendous toll on women and their families throughout the country,” Ness added. “The gap persists across industries, education levels and, as these data make clear, it spans the geography of our country. It’s time for all members of Congress to take a hard look at the damage being done in their districts and commit to promoting fair wages by passing the Paycheck Fairness Act.”

The National Partnership’s findings for all 50 states and all 435 congressional districts can be found here: www.NationalPartnership.org/Gap. More information on the wage gap can be found at www.NationalPartnership.org/FairPay.

Small Business Association, SBA Loans

SBA Loans 101: Funding Small Business Expansion

Funding expansion of small business creates new jobs: SBA Loans 101

All the talk about the American Job Act has many thinking about how crucial the creation of jobs is to an economic turnaround. The reality is a majority of new jobs will not be a result of hiring by large corporations or government; new jobs are going to come from the growth of small business.

According to the U.S. Census Bureau, 95 percent of all businesses in Arizona are small businesses with less than 100 employees. These businesses employ 32 percent of the state’s workforce.

In most cases, small businesses must expand in order to create more jobs. For small business owners, expansion requires funding. While bank loans can be difficult for a small business to secure, a loan may be a more appealing option than finding investors or financial partners that may want a percentage of the company and input on how decisions are made.

A Small Business Association (SBA) loan or SBA loan is an option to consider. SBA loans are issued through banks to specifically help small businesses with their growth, including hiring new employees, adding more equipment and making other necessary changes. The questions then are how much cash SBA loans provide, and what does it take to qualify?

While the government-backed guarantee portion of SBA loans increased from $2 million to $5 million in 2010, protecting banks even more in the event that the borrower defaults, it is still difficult for small businesses to receive an SBA loan.

In order to qualify for an SBA loan from your bank, your business must be a for-profit business, have a sufficient amount of owner equity invested in the business and have already used other financial resources first, including personal assets.

You may also need to determine what type of SBA loan you may need. There are three specific categories:

•    The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.

•    The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The maximum loan amount is $50,000, but the average microloan is about $13,000.

•    The CDC/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.

When applying for an SBA loan, it is important to remember that bankers, now more than ever, will be looking closely at the documents submitted. When you are preparing your loan application for your banker, you typically have to include:

•    An overview of the business
•    A description on the purpose of the loan request, and how it will be used
•    A plan to repay the loan
•    Collateral in the event that you cannot repay the loan
•    Personal financial statements for the last three years
•    Business financial statements for the last three years

Understanding what lenders are looking for is important regardless of what solution you may seek to finance the expansion of your small business. Working closely with the lender to make sure you are supplying the correct materials will save both parties time and energy in the process and hopefully help to secure the funding needed.

For more information about SBA loans, visit sba.gov.

[stextbox id=”grey”]Robyn Barrett is founder and managing member of FSW Funding, formerly Factors Southwest LLC, specializing in factoring financing for small to mid-size companies. For more information, visit www.fswfunding.com.[/stextbox]

Nonresidential Construction Spending Dips In September

Nonresidential Construction Spending Dips In September 2010

While total construction spending edged up in September, private nonresidential construction slipped 1.6 percent, according to a report by the U.S. Census Bureau.

On a year-over-year basis, private nonresidential construction spending is down 24.6 percent. Meanwhile, total nonresidential construction spending – which includes both privately and publicly financed projects – was flat for the month and is down 12.4 percent from September 2009, and now stands at $559.6 billion on a seasonally adjusted annual rate.

Construction subsectors posting the largest monthly decreases were lodging, down 7.8 percent; manufacturing, 3.5 percent lower; and conservation and development-related construction, down 3.1 percent. Those subsectors suffering the biggest losses from the same time last year include lodging, down 53 percent; manufacturing, down 35.5 percent; and office construction, 24.5 percent lower.

In contrast, 9 of 16 nonresidential construction subsectors posted spending increases from the previous month led by transportation, up 4.1 percent; health care, 1.8 percent higher; office, up 1.6 percent; and amusement and recreation-related construction, up 1.6 percent. Five subsectors are up, compared to the same time last year, including conservation and development, up 25.5 percent; sewage and waste disposal, 13.9 percent higher; and water supply construction, up 7.7 percent.

Public nonresidential construction spending, which represents 55.3 percent of total nonresidential construction, was up 1.3 percent for the month and up 0.7 percent year-over-year. Residential construction spending was up 1.8 percent for the month, but is down 5.3 percent compared to September 2009. Total construction spending was up 0.5 percent in September compared to August, but down 10.4 percent compared to the same time last year.

“Though the media will likely focus upon the fact that total construction spending was up in September for the first time in three months, there is relatively little to celebrate in the most recent construction spending report,” said Associated Builders and Contractors Chief Economist Anirban Basu. “For example, total nonresidential construction spending last September totaled $639 billion on an annualized basis. In contrast, the total this September is $560 billion, a decline exceeding 12 percent. In addition, nonresidential construction volumes were virtually unchanged from August, and remained lower than they were during the early summer.

“Still, there was some positive movement. Construction spending on office space rose in September, perhaps because the lending environment is thawing a bit and new owners of buildings are seeking to re-tenant their purchases and to put their imprint on their properties,” said Basu.

“Construction related to education was also up, a good sign since the fear has been that education-related spending would continue to fall in the wake of still distressed state and local government budgets,” Basu said.

“However, there are also indications that publicly-financed spending related to the stimulus package passed in February 2009 is beginning to wane. For example, spending on construction related to water supply is no longer rising rapidly, and spending in the highway and street category declined in September. Looking at the bigger picture, today’s data suggests that overall nonresidential construction spending is poised to remain quite flat in the months ahead,” Basu said.

Divorce and Business - AZ Business Magazine Oct/Nov 2006

How To Ensure Your Joint Business Outlives A Failing Marriage

‘Til Business Do Us Part

How to ensure your joint business outlives a failing marriage

By Alexander D. Nirenstein

Divorce can be a trying time for individuals faced with income, property and child custody issues, but throw in a joint business venture, and the formula could be detrimental to both couple and business. The phenomena of newlywed couples seeking an instant satisfying and established lifestyle has led many to open up their own business, where profits can be quick and hours are flexible. Couples in their mid-40s and 50s are also embracing joint business ventures, finally opening that family business they have spoken about for years.

 

business_doWhile this combination of business and pleasure can be a success story for both a marriage and a business, it can also be the recipe for disaster. Arizona boasts one of the highest divorce rates in the nation—about 64 percent of all marriages in Arizona and 75 percent of all marriages in Maricopa County end in divorce (according to the Committee on Human Resources for the Arizona House of Representatives and the U.S. Census Bureau). And the Valley’s most successful CEOs and prominent figures are not immune to the effects a failed marriage can have on a thriving business. Having represented some of the Southwest’s most high-profile figures in family law cases, I have seen first hand that even the elite are not immune to blindly entering into the sanctity of a joint business, without proper legal preparation and agreements.

The No. 1 thing I tell my clients, family and friends who are considering entering into joint business rights or assets is to draft a solid shareholder’s agreement with a buyout provision to protect you, your spouse and the business. This can be in a prenuptial agreement or a separate agreement, but it’s a must. Without this, it can be a free-for-all if you divorce or if one of the parties wants out of the business during a separation.

You also have to be familiar with state divorce and community property laws. As I am often faced with clients who have not taken proper legal protection, Arizona’s community property law never fails to be one of the most shocking divorce provisions to couples. Under this law, regardless of which partner in the marriage is primarily running the business on a daily basis, both parties are entitled to equitable shares of the business. This means the stay-at-home mom can be found to have contributed as much to the business as her CEO husband who puts 60 hours a week into the company. Thus, each party will usually get 50 percent of the business.

Cover - AZ Business Magazine Oct/Nov 2006For couples who have been fortunate enough to properly prepare their business for this scenario, dealing with the buyout provision before the divorce is also a smart move as court rulings in divorce cases can impact the share each party has in the business. Additionally, contested divorces can also take years to settle, creating huge setbacks for a business’ growth and success, and creating roadblocks to selling the company should an attractive offer come along.

Bottom line? Putting your head where your heart is could save you and your business. If you are in the middle of a business divorce or on the brink of one, ensure you get all your ducks in a row beforehand. Have your financial planner, CPA and business lawyer collaborate through initial negotiations. This will ensure all parties representing you and your business will be on the same page regarding your personal, financial and business interest.

Alexander D. Nirenstein is a managing partner and co-founder of Nirenstein Ruotolo Group (NRG Family Law), a boutique family law firm with offices in Scottsdale and Tempe.

www.nrglaw.net

 

Arizona Business Magazine Oct/Nov 2006

Arizona Majority

Surging Hispanic Population Growth Creates Opportunity, Challenges

Arizona’s Majority Minority

Surging Hispanic population growth creates opportunity, challenges

 

Arizona’s population is changing as fast as its landscape. At present, approximately 1.6 million Hispanics, or one in four Arizonans, call the Grand Canyon State home. Since 40 percent of the state’s population now consists of Hispanic and other minority residents, the U.S. Census Bureau estimates Arizona will soon be joining Texas, California, New Mexico and Hawaii as a “majority minority” state.

majority_minorityHispanics are the biggest and fastest growing minority group in Arizona, in its K-12 schools and in the United States, according to Datos 2005, an annual report released by the Hispanic Chamber of Commerce. The number of Hispanic Americans grew by 40 percent between 1990 and 2000 and 49 percent from 2000 to 2004. Between 2000 and 2020, Hispanic growth is estimated to outpace that of non-Hispanic Whites by nearly 2 to 1. “Local businesses need to focus on the Hispanic market,” says Dr. Loui Olivas, assistant vice president of academic affairs at Arizona State University. “Whether businesses do an effective job will be measured through the metrics of customers, billing and revenue by market segmentation. But unless, and until, businesses grasp the numbers and clearly identify what they mean, the Hispanic market will continue to be a lost opportunity for many of them.”

Harry Garewal, president and CEO of the Arizona Hispanic Chamber of Commerce, recommends local business owners utilize published data to learn about the Hispanic market. Datos 2005 is a 10-year culmination of demographic and census data that can help businesses understand the changing Hispanic market, and in turn, help them develop a sound marketing strategy for selling products and services to the Latino community. “Businesses will have a better chance of developing a good marketing strategy if they understand the market,” Garewal adds. “That includes understanding that all Hispanics are looking for the same things as everyone else—opportunity, good quality of life, education and what brings happiness in life.”

Avondale Mazda, an independently owned used car dealership that opened in November 2005, used the Datos report to develop its first marketing strategy. Since close to 50 percent of the local community and its customer base are Hispanic, the report was extremely helpful, says Xavier Brizar, Avondale Mazda’s Hispanic marketing and business manager. “Datos helped us gain a better understanding of the Latino market and the information was easy to understand,” he adds. “In the dealership world, no one in the past would consider using direct mail, but we learned from the report that Hispanics do read it, so using direct mail has been very successful for us. We also know the Latino market uses the Internet (13.6 million Hispanics online), so we have an Espanola link on our Web site to direct them to an Avondale Mazda site in Spanish.”

Avondale Mazda has banners, signage and information about buying cars in Spanish inside the dealership, which makes Hispanic customers feel welcome and comfortable. The dealership also is involved in the Hispanic Chamber of Commerce and is supportive of local community events. “This is a small dealership with only 40 employees, so if someone calls that speaks Spanish, they get to talk to me every time,” adds Brizar, who prior to Avondale Mazda spent 18 years as the marketing manager of Pioneer Ford, where 50 percent of customers were Hispanic. “We know our Hispanic customers want to speak with a person, so it’s important we take care of them in the manner they appreciate.”

Home furnishings retailer IKEA launched a Hispanic multimedia marketing campaign in the United States in late 2004. The ongoing campaign includes Spanish-language TV and radio commercials, print ads, a 300-page Spanish catalog, store signage, product information brochures in both English and Spanish and sponsorships. They also have Spanish-speaking employees in stores. “The Hispanic market is vital to our business,” says Maria Lovera, IKEA’s deputy marketing manager for general and Hispanic markets in the United States. “We’ve always seen it that way, but in the last couple of years, we have strengthened our efforts to address their unique needs and understand their culture. We have also allocated more money for our Hispanic marketing efforts and made a very significant increase in our advertising budget. We feel this is a fast-growing market that is going to be phenomenally successful for retailers who can understand the benefit and embrace the Hispanic community.”

Phoenix is a top 10 Hispanic television market. Hispanic consumers spend an average of 58 hours per week watching television. Arbitron ranked Phoenix as the ninth largest Hispanic radio market reaching 742,000 Hispanics more than 12 years old. Nearly half of Phoenix Hispanics read a Spanish-language newspaper compared to half as many reading an English-language daily.

The Hispanic marketing team at Qwest has used Datos every year since 2000, as one of its tools to compile demographic and census information on the local and regional Hispanic market. They also use it to compare differences year after year in population growth, household growth, buying trends and purchasing power and to develop the company’s marketing strategy. “Datos comes in handy for the Arizona market in particular because it has the lionshare of the Hispanic market in our region,” says Hector Placencia, marketing director for Qwest. “Arizona’s population changes year to year and the updated reports keep us on the curve of these changes. There are many tools out there, but for us, Datos speaks to our customer base. We also share it internally with senior management to raise awareness of change within the Qwest organization.”

AZ Business CoverBased on the growth of the Hispanic population in Arizona over the last year, Qwest, like IKEA, has allocated additional monies for marketing and advertising to the Hispanic community. The fattened budget also includes face-to-face events. “The Hispanic consumer likes to do business in person,” says Alex Juarez, marketing manager for Qwest. “So we partner with businesses in the community like Food City where we have Qwest kiosks set up to meet with them face to face. It works out great because we understand our market very well.”

www.azhcc.com

 

 

Arizona Business Magazine Aug/Sept 2006

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