Identifying Arizona businesses to watch in 2025 is crucial for staying informed about the state’s economic trajectory. These companies are at the forefront of innovation and growth, influencing market trends and creating job opportunities. By monitoring their progress, investors and professionals can make informed decisions, capitalize on emerging markets, and contribute to Arizona’s dynamic business landscape. Each year, the Az Business magazine editorial board selects the AZ Big 100, the 100 individuals and businesses that will impact Arizona’s economy in the upcoming year.
AZ Big 100 online coverage
JANUARY 14: 50 Arizona business leaders to watch in 2025
JANUARY 15: 50 Arizona commercial real estate leaders to watch in 2025
JANUARY 16: 50 Arizona businesses to watch in 2025
JANUARY 17: 50 Arizona commercial real estate companies to watch in 2025
50 Arizona businesses to watch in 2025
Here are 50 Arizona businesses to watch in 2025, selected as part of Az Business magazine’s AZ Big 100 for 2025:
Adobe Population Health
Adobe Population Health, based in Arizona, specializes in delivering value-based healthcare solutions. Focused on improving patient outcomes, the organization emphasizes preventive care, chronic disease management, and holistic wellness. By leveraging data analytics and coordinated care strategies, Adobe Population Health enhances the quality and affordability of healthcare for Arizona communities.
Achieve
Achieve, headquartered in Arizona, specializes in financial solutions, offering services like debt resolution, personal loans, and financial education. Dedicated to empowering individuals, Achieve helps clients manage and improve their financial health. With a focus on personalized strategies, it supports Arizonans in achieving long-term financial stability and freedom.
Alerus
Alerus, with a strong presence in Arizona, provides comprehensive financial services, including banking, retirement planning, wealth management, and employee benefits. Focused on personalized client relationships, Alerus helps individuals and businesses achieve financial success. Known for innovative solutions, the company supports Arizona’s growing economy and community development.
Alliance Bank
Alliance Bank of Arizona, a division of Western Alliance Bank, serves as a leading financial institution for businesses and individuals in the state. Offering customized banking, lending, and treasury management services, the bank supports Arizona’s dynamic economy. Known for local expertise, Alliance Bank fosters growth and long-term success for its clients.

Amkor Technology’s corporate headquarters in Tempe. (Provided photo)
Amkor Technology
Background: Amkor Technology, Inc. is the world’s largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world’s leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence, and wearables. Amkor’s operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe, and the United States.
Initiatives for 2025: Amkor first established its presence in the Greater Phoenix area in 1984. In November 2023, Amkor announced plans to build an advanced packaging and test facility in Peoria. The location will uniquely position Amkor among a strong ecosystem of front-end fabs, IDMs, and suppliers with current or expanding presence in Arizona. The facility will serve U.S. strategic needs by providing an OSAT capability which does not exist at this point in the U.S. Amkor plans to break ground on the new facility in the second half of 2025. The company is excited to expand the evolving semiconductor ecosystem, provide high-tech jobs, and increase economic energy in the Greater Phoenix metropolitan area. Upon completion, this will be the largest outsourced advanced packaging facility in the US.
Innovative trait: Amkor is the only U.S. headquartered OSAT service provider with advanced packaging technology capability and highvolume manufacturing experience. Advanced packaging has been widely recognized as an area of needed emphasis for the economic and national security of America’s chip supply. Its advanced packaging and test solutions address the growing demands of high-performance computing, AI, and data centers. Technologies, such as the S-SWIFT™ (Substrate Silicon Wafer Integrated Fan-out Technology), provide higher bandwidth and efficient die-to-die interconnects, which are crucial for heterogeneous integration. Additionally, Amkor’s collaboration with Lightmatter to create the largest-ever 3Dpackaged chip complex showcases their ability to push the boundaries of advanced packaging and performance. These innovations enable superior energy efficiency, higher connection density, and enhanced performance, making Amkor an innovative leader in the semiconductor industry.
Learn more: amkor.com
Arevon Energy
Arevon Energy, with operations in Arizona, is a leading renewable energy company specializing in solar and energy storage solutions. Focused on sustainability, Arevon develops and manages clean energy projects that power communities and businesses. The company supports Arizona’s transition to renewable energy, driving environmental and economic benefits across the state.
ASM International
ASM International, headquartered in Arizona, is a global leader in semiconductor equipment manufacturing. The company develops innovative technologies for wafer processing, enabling advanced chip production. With a focus on research and development, ASM supports Arizona’s tech ecosystem, contributing to advancements in electronics, sustainability, and the global semiconductor industry.
Avnet
Avnet, headquartered in Phoenix, is a global leader in electronics distribution and technology solutions. The company provides components, products, and services to businesses in industries such as aerospace, automotive, and healthcare. Avnet is committed to innovation, helping customers design and develop cutting-edge solutions for a connected world.
AxiomEHR
AxiomEHR, based in Arizona, offers a cloud-based electronic health record (EHR) solution tailored for behavioral health providers. The platform streamlines clinical workflows, enhances patient care, and ensures regulatory compliance. With a focus on efficiency and customization, AxiomEHR supports Arizona’s healthcare providers in delivering quality mental health services.
Axon
Axon, headquartered in Scottsdale, is a leading provider of public safety technology, specializing in body cameras, TASER devices, and evidence management software. The company’s innovative solutions help law enforcement agencies enhance transparency, accountability, and officer safety. Axon plays a key role in advancing technology for public safety worldwide.

Barrow Neurological Institute
Background: Barrow Neurological Institute at Dignity Health St. Joseph’s Hospital and Medical Center in Phoenix, Arizona is an international leader in the treatment, research, and education of brain and spinal diseases, conditions, and injuries. Led by Barrow President and CEO Michael T. Lawton, MD, the Institute is one of the busiest centers for neurology and neurosurgery in the United States. Each year, Barrow treats nearly 74,000 patients, and its neurosurgeons and head and neck cancer surgeons perform over 6,000 surgeries. Because of its high volume, its physicians and clinicians are familiar with the rarest and most challenging conditions.
Initiatives for 2025: What if we could identify Alzheimer’s disease before it takes what’s most precious to us, our memories, and stop it in its tracks? Barrow Neurological Institute’s newest research initiative is focused on the mission of your mind — understanding the inner workings of your brain and how it functions to make you, you. As the home base for opening minds and saving lives, six ‘mysteries of the mind’ will be explored through translational neuroscience research, including: movement and perception, emotion, neural plasticity, intelligence, memory, and consciousness. Barrow Neurological Institute is where the future of neuroscience is happening now.
Learn more: barrowneuro.org
Banner Health
Banner Health, based in Arizona, is one of the largest nonprofit healthcare systems in the U.S. It operates hospitals, urgent care centers, and specialty clinics, offering comprehensive services. Known for quality care, Banner Health focuses on improving health outcomes across the state.

Bell Bank
Background: Founded in 1966 and headquartered in Fargo, N.D., Bell Bank is one of the nation’s largest family- and employee-owned banks. In Arizona, where Bell has had a mortgage presence since 1997, Bell’s first full-service location opened in 2019. Bell now has banks in Chandler, Peoria, Glendale, Phoenix-Biltmore and at its new Southeast Valley regional headquarters in Gilbert, with plans for continued growth. Bell Bank’s Arizona team is led by Kyle Kennedy, Bell’s Phoenix president and Arizona banking director. Bell Bank offers a full range of financial services for individuals, businesses and organizations. Its award-winning team offers these services each day while living the company’s core values: creating a family atmosphere, providing unequaled personal service, and giving back to the community.
Goals for 2025: “Our family ownership has made a huge investment and commitment in Arizona by opening new full-service banks, including locations in Arrowhead, downtown Glendale and our new Southeast Valley bank location. We continue to look at options to best serve the Phoenix metro and are currently exploring North Scottsdale. Additionally, our commitment shows in our employees’ volunteerism, partnerships with nonprofits, and charitable work with community leaders/Bell Champions Larry Fitzgerald and chef Mark Tarbell. Our growth and success is thanks to our loyal customers and the employees who give them unequaled personal service each day. As we expand regionally and nationwide, we’re excited to bring our award-winning, people-focused brand of banking to more customers and communities.”
Learn more: bell.bank
BrightFi
BrightFi Inc., based in Arizona, provides innovative financial technology solutions. Specializing in digital banking and payment services, BrightFi focuses on improving financial inclusion and accessibility. The company empowers businesses and individuals with efficient, secure, and scalable financial tools for modern transactions.
Bizsmart Insurance Group
Bizsmart Insurance Group, based in Arizona, provides customized insurance solutions for businesses. Specializing in commercial coverage, including property, liability, and workers’ compensation, the company helps clients manage risk and protect assets. Bizsmart is dedicated to offering personalized service and competitive pricing.
Blue Cross Blue Shield of Arizona
Blue Cross Blue Shield of Arizona offers a range of health insurance plans, including individual, family, and employer coverage. Committed to improving health outcomes, the company provides access to quality care, wellness programs, and customer support across Arizona’s diverse communities.
Brainiest AI
Brainiest AI, based in Arizona, specializes in artificial intelligence solutions to enhance business operations. The company develops AI-driven platforms for data analytics, automation, and decision-making. Focused on innovation, Brainiest AI helps businesses optimize performance and gain insights for smarter strategies.

Child Crisis Arizona
Background: Since 1977, Child Crisis Arizona has served vulnerable children and families in Arizona and is committed to preventing child abuse and neglect through education, holistic health and wellness, prevention and intervention. CCA offers emergency shelter, residential care with education and health services for children and youth from birth to 21 and offers foster care and adoption services, early education as well communitywide parenting classes, workshops, support groups and much more. Child Crisis Arizona has positively impacted over 100,000 children and families since its inception.
Goals for 2025: Child Crisis Arizona remains dedicated to supporting individuals at every stage of life, from prenatal mothers to medically fragile children and young adults transitioning out of foster care. This commitment to addressing the diverse needs of the community continues to drive their mission forward. In 2025, the organization plans to expand its impact by opening new independent living facilities for young adults in the East Valley and making facility enhancements at Whispering Hope Ranch in order to host additional community camps and events. At the new Center for Child & Family Wellness in Mesa, Child Crisis Arizona will also provide a welcoming space for arts, mindfulness, learning and literacy programs.
Learn more: childcrisisaz.org
City of Buckeye
The City of Buckeye focuses on economic development through strategic growth, attracting diverse industries such as manufacturing, logistics, and technology. With a growing infrastructure, business incentives, and a skilled workforce, Buckeye fosters a thriving environment for businesses and community prosperity.
City of Hope
City of Hope in Arizona is a leading cancer treatment and research center. With a focus on innovative therapies, personalized care, and advanced research, it provides world-class treatment for cancer, diabetes, and other life-threatening diseases, improving patient outcomes across the state.
City of Peoria
The City of Peoria promotes economic development by attracting diverse industries, including healthcare, retail, and manufacturing. Through strategic planning, business incentives, and workforce development, Peoria fosters a thriving economy, enhancing quality of life and supporting long-term community growth.
CND Life Sciences
CND Life Sciences supports the care of patients facing the potential diagnosis of neurodegenerative disease and other neurological conditions. Operating a CLIA-certified and CAP-accredited laboratory in Scottsdale, Arizona, CND developed the Syn-One Test to help clinicians diagnose Parkinson’s disease, dementia with Lewy bodies, and related disorders known as synucleinopathies. For more information, visit cndlifesciences.com or connect with us on LinkedIn.
Copa Health
Copa Health, based in Arizona, provides comprehensive behavioral health services, including mental health care, substance abuse treatment, and support for developmental disabilities. Focused on individualized care, Copa Health strives to improve quality of life for individuals, fostering wellness, recovery, and community integration across the state.
CopperPoint Insurance Companies
CopperPoint Insurance Companies, headquartered in Phoenix, offers commercial insurance solutions including workers’ compensation, liability, and property coverage. Focused on providing businesses with reliable, cost-effective protection, CopperPoint is committed to supporting Arizona’s economy by helping companies manage risks and secure long-term success.
Critical Path Institute (C-Path)
C-Path, based in Tucson, is a nonprofit organization focused on advancing the development of medical innovations. Through collaborative research and data-sharing, C-Path accelerates regulatory science, facilitating the development of new treatments and improving patient outcomes across various therapeutic areas.

Desert Financial Credit Union’s leadership team includes Jeff Meshey, president and CEO; Jack Biggs, executive vice president; Cathy Graham, executive vice president; and Ron Amstutz, executive vice president. (Provided photo)
Desert Financial Credit Union
Background: Desert Financial Credit Union, Arizona’s most trusted local credit union for 85 years, began with just 15 educators and $78.75. Today, it serves 450,000+ members statewide with nearly 50 branches. In 2024, members received $20 million through its Member Giveback Bonus. The credit union and its nonprofit arm, Desert Financial Foundation, are committed to uplifting Arizona communities and actively invest in scholarships, grants for nonprofits, volunteer support and much more. The credit union also offers free financial resources, including webinars and workshops, to promote financial well-being.
Goals for 2025: At Desert Financial, there has been a renewed focus on increasing the financial well-being of their employees. This has included increased efforts to improve the benefits and pay of employees, along with investing in financial coaching opportunities. Desert Financial is planning to continue this work to empower employees to take control of their finances and make informed decisions, creating a more financially secure and confident workforce in the years to come. Desert Financial is set apart by its strong commitment to financial literacy. The organization holds free financial well-being webinars for members, the community, and their employees. They also offer financial literacy workshops and extensive digital materials for students, educators, and nonprofit organizations serving the community. Through comprehensive financial well-being programming and educational initiatives, Desert Financial has reached thousands, imparting essential financial knowledge and fostering brighter futures. These efforts will be continued and expanded upon in the coming months and years.
Innovative act: Desert Financial fosters a forward-thinking culture where employees feel valued and empowered to support their community. The credit union invests in employee financial well-being by training select staff as financial coaches to assist colleagues and members. Its InvestED program covers tuition upfront for eligible full-time employees pursuing 200+ online undergraduate, graduate, and certificate programs. The Random Acts of Kindness program, a mainstay of Desert Financial’s community efforts, encourages employees to propose ideas that are implemented by an employee-led committee, strengthening its people-focused culture. Recognized as one of Arizona’s most philanthropic companies, Desert Financial consistently innovates to support communities. One example is its work with the 1 Darn Cool School at Phoenix Children’s. Desert Financial Foundation is the sole funder of the school, and continues to raise more and more funds each year to provide this program to patients.
Learn more: desertfinancial.com
Equality Health Foundation
The Equality Health Foundation, based in Arizona, is dedicated to improving healthcare access and outcomes for underserved populations. Through community engagement, advocacy, and education, the foundation focuses on reducing health disparities and promoting health equity, ensuring inclusive and culturally competent care for diverse communities.
Evernorth
Evernorth is a health services company that focuses on improving health outcomes through innovative solutions in pharmacy, benefits management, and healthcare services. By leveraging data and technology, Evernorth aims to make healthcare more affordable, accessible, and efficient for individuals and organizations.
Gen
Gen is a technology-driven company specializing in AI-powered solutions for healthcare. Focused on improving patient care, the company develops tools for precision medicine, data analytics, and personalized health management. Gen’s innovations aim to enhance clinical decision-making and healthcare efficiency.
Greater Phoenix Chamber
The Greater Phoenix Chamber is a leading business organization dedicated to fostering economic growth in the Phoenix area. It provides advocacy, networking opportunities, and resources for businesses. By supporting entrepreneurship, workforce development, and regional prosperity, the Chamber plays a key role in shaping the local economy.
GT Medical Technologies
GT Medical Technologies, based in Tempe, specializes in developing innovative medical devices for the treatment of brain tumors. Their flagship product, GammaTile Therapy, offers a non-invasive approach to tumor treatment, providing patients with a targeted solution to improve outcomes and enhance quality of life.
IBG Fox & Fin Financial Group
IBG Fox & Fin Financial Group provides comprehensive financial services, including investment management, retirement planning, and wealth advisory. With a focus on personalized strategies, the firm helps individuals and businesses achieve financial security and long-term success through tailored, client-focused solutions.
JNH Legal
JNH Legal, based in Arizona, is a law firm specializing in business and corporate law, providing services such as contract drafting, litigation and legal consulting. Focused on delivering strategic legal solutions, JNH Legal helps businesses navigate complex legal challenges and ensure compliance for long-term success.
KP Aviation
Woman-owned KP Aviation, based in Mesa, specializes in aviation maintenance, repair, and overhaul (MRO) services. Offering expertise in aircraft inspections, part replacements, and technical support, the company ensures safe and efficient operations for private, commercial, and government clients, maintaining high standards in aviation safety and performance.
Lessen
Lessen is a property technology company that specializes in home management services. By offering maintenance, repairs and upgrades, Lessen helps homeowners and property managers streamline operations and improve the quality of rental properties. The company focuses on efficiency and customer satisfaction.
Make-A-Wish Arizona
Make-A-Wish Arizona grants life-changing wishes to children with critical illnesses. As the founding chapter of the global organization, it has been fulfilling wishes since 1980, bringing hope, strength and joy to children and their families. The foundation relies on donations to make these wishes possible.
National Bank of Arizona
National Bank of Arizona, a prominent regional bank, offers a wide range of financial services, including personal banking, business solutions, and loans. With a focus on community involvement and customer service, the bank supports Arizona’s economic growth while providing personalized, reliable banking experiences across the state.
ONE Community
ONE Community, based in Arizona, is a coalition dedicated to advancing equality and inclusivity for the LGBTQ+ community. Through advocacy, education, and partnerships, the organization works to create a more accepting and diverse Arizona, promoting equal rights and social acceptance for all individuals, regardless of orientation.
OneAZ Credit Union
OneAZ Credit Union, based in Arizona, offers a variety of financial services, including savings accounts, loans, mortgages, and credit cards. Committed to community support and financial education, OneAZ focuses on providing members with personalized banking solutions and fostering long-term financial well-being for individuals and families.
Pennington Law
Pennington Law, based in Arizona, specializes in estate planning, elder law, and probate services. Focused on helping clients protect assets and ensure smooth transitions, the firm offers personalized legal guidance for wills, trusts, guardianships and other estate-related matters, providing peace of mind for individuals and families.
Pinnacle Bank
Pinnacle Bank, based in Arizona, offers a range of financial services, including personal and business banking, loans and investment solutions. With a focus on customer relationships and community involvement, the bank provides personalized service and strives to support the economic growth and prosperity of Arizona’s residents and businesses.

Rafi Law Group
Background: Rafi Law Group is Arizona’s premier personal injury law firm, recognized for providing unmatched legal representation with a personal touch. With a team of 25 established attorneys and over 250 dedicated professionals, the firm has successfully helped more than 40,000 Arizonans rebuild their lives after accidents. Rooted in compassion and a commitment to justice, Rafi Law Group prioritizes making legal help accessible to those in need. Beyond the office, the firm’s charity initiative, Rafi’s Hope, empowers children and families across Arizona through impactful community programs.
Goals for 2025: In 2025, Rafi Law Group aims to deepen its impact in both legal advocacy and community outreach. Through its charity initiative, Rafi’s Hope, the firm plans to build on its 2024 success of completing over 1,000 community service hours. By hosting impactful events, strengthening partnerships, and increasing volunteer engagement, Rafi Law Group seeks to exceed this milestone in the coming year. These efforts reflect the firm’s belief that the legal profession has a responsibility to uplift the communities it serves. The firm is also preparing for strategic expansion, broadening its reach to ensure that more communities have access to top-tier legal representation. Internally, Rafi Law Group is enhancing operations to create a more seamless and stress-free experience for its clients. By refining case management systems and prioritizing communication, the firm ensures clients feel informed and supported at every stage of their case. Additionally, Rafi Law Group remains committed to fostering professional growth and diversity within its team. Encouraging attorneys and staff to engage with leading legal organizations across Arizona strengthens networks, enhances skills and fosters collaboration.
Innovative act: A standout feature of the firm is Rafi Studios, its in-house marketing team. Unlike most firms that outsource marketing, Rafi Studios consists of a local Arizona-born team whose success is driven by passion and creativity rather than traditional marketing education. Their authentic and innovative campaigns connect the firm to the community in relatable and compelling ways, transforming how legal services are represented. Brandon B. Rafi’s vision also extends to the firm’s community efforts through Rafi’s Hope, which provides direct support to underserved children and families. By hosting impactful volunteer events and fostering meaningful partnerships, the initiative ensures the firm’s influence goes beyond the office. Through operational excellence, innovative marketing, and hands-on outreach, Rafi Law Group sets a new bar for innovation and leadership in the legal industry.
Learn more: rafilawgroup.com
Southwest Behavioral & Health Services
Southwest Behavioral & Health Services provides comprehensive mental health and substance abuse treatment services. Focused on improving the well-being of individuals and families, the organization offers counseling, crisis intervention, and support programs to promote recovery, stability, and long-term health across Arizona communities.
StandardAero Aviation Holdings
StandardAero Aviation Holdings, based in Phoenix, is a leading provider of aviation maintenance, repair, and overhaul (MRO) services. Specializing in engine and airframe services for commercial, military, and private aircraft, the company ensures high-quality, reliable solutions to support safe, efficient aviation operations worldwide.
StenTam
StenTam, based in Phoenix, provides advanced data analytics and business intelligence solutions. Specializing in transforming complex data into actionable insights, the company helps organizations improve decision-making, optimize operations and drive growth. StenTam delivers customized solutions for clients across industries, enhancing business performance through data-driven strategies.

Sandra Cardenas and Gaby Cardenas of The Colibri Collective. (Provided photo)
The Colibri Collective
Background: “The Colibri Collective is a full-service agency known for award-winning marketing strategies that drive results. With 26 industry accolades, our seasoned team excels in creating emotionally impactful advertising that activates positive change. Our visionary collective specializes in marketing for causes that drive transformative progress, serving a diverse portfolio of political, educational, government and nonprofit clients. We have played a pivotal role in passing impactful victories on the local, state and federal levels. Additionally, we were honored to be selected by the NFL and the Super Bowl Host Committee to provide PR and translation services for Super Bowl LVII.”
Goals for 2025: “As we grow, we will continue to dedicate ourselves to impactful work that drives meaningful action and use cutting-edge strategies to empower and uplift voices. In the evolving digital landscape, we are committed to revolutionizing our creative approach and embracing new media strategies and technologies. We are driven to redefine industry standards and equip our team with the tools and resources they need to grow, adapt and excel in an ever-changing environment. As a Latina-owned and women-certified business, we want to continue creating opportunities for women and culturally diverse populations. We are dedicated to giving back to the community by creating spaces for the next generation of leaders who historically have lacked visibility.”
Learn more: thecolibricollective.com
Trainual
Trainual, based in Tempe, offers an intuitive platform for businesses to create, manage and share training materials. Specializing in simplifying employee onboarding, development, and operational processes, Trainual helps organizations scale by streamlining knowledge transfer, ensuring consistency, and empowering teams with efficient, easily accessible training resources.

University of Phoenix
Background: An innovator in online learning, University of Phoenix helps working adults enhance their careers and develop skills in a rapidly changing workforce. Skills-mapped curriculums in the University’s associate, bachelor’s and master’s degree programs open for enrollment combine with flexible schedules, relevant courses, interactive learning and a Career Services for Life® commitment to help students more effectively pursue career and personal aspirations while balancing busy lives. University of Phoenix features a Workforce Solutions Group supporting employers in building talent development solutions. The University’s research centers include the University of Phoenix Career Institute® established to address systemic barriers to career advancement through research-based solutions and impactful partnerships, beginning with its annual Career Optimism Index® study, and partnering with the Center on Rural Innovation on the G.R.O.W. Generating Rural Opportunities in the Workforce™ report, Jobs for the Future on social capital initiatives for workers, and Motherly on the Mothers Overcome More™ report.
Learn more: phoenix.edu
Valleywise Health
Valleywise Health, based in Phoenix, is a comprehensive healthcare provider offering a wide range of medical services, including emergency care, mental health services and specialized treatments. Committed to improving community health, Valleywise Health focuses on accessible, quality care for all residents, regardless of income or background.
Vulcreate
Vulcreate, based in Arizona, is a creative agency specializing in branding, design and marketing services. Focused on helping businesses craft unique identities, Vulcreate offers customized solutions to enhance visibility, engagement and growth. Their services include web design, logo creation and digital marketing strategies.