The Arizona Commerce Authority (ACA), the state’s leading economic development agency, announced it ended Fiscal Year (FY) 2019 with record-breaking results for projected new job creation, wages and capital investments.
From July 1, 2018 through June 30, 2019 the ACA worked with 105 companies that committed to creating 24,422 projected new jobs and investing $2.6 billion dollars in the state over the next five years, exceeding the agency’s goal of assisting with the creation of 16,000 jobs for the Fiscal Year.
The projected jobs reported in the ACA’s FY 19 annual report have an average salary of more than $66,000 a year, 186 percent of the state’s median wage.
“Companies from all over the world have discovered that there’s no better place than Arizona to expand or scale a business,” said Governor Doug Ducey. “As a result, Arizona has become a jobs juggernaut and our economy is booming. I’d like to thank the hard-working entrepreneurs and employees for their investments and commitments to our communities, and I’d also like to thank Sandra Watson and her team at the Arizona Commerce Authority for all their efforts.”
“I’m very proud that we had yet another record-breaking year, evidence that Arizona’s unique value proposition continues to resonate with business decision-makers worldwide,” said Sandra Watson, President & CEO of the Arizona Commerce Authority. “I’d like to thank Governor Ducey and the ACA Board of Directors for their exemplary leadership and dedication to achieving our mission to grow Arizona’s economy. I’d also like to thank our many economic development partners for their support and collaboration.”
By the end of FY 19, just two years into its current five-year business plan, the ACA has already achieved 53 percent of its five-year job creation goal, with companies committed to creating 42,531 projected new jobs. The agency has also achieved 68 percent of its five-year investment goal as those companies have committed to investing $4.76 billion dollars into the state.
Since the ACA was formed in 2011, the agency has completed more than 750 projects with companies that have committed to creating more than 138,000 projected new jobs and investing nearly $21.6 billion of capital into the state. Overall, Arizona has added more than 300,000 new private-sector jobs since 2015.