Knowing the 20 largest employers in Arizona offers valuable insight into the state’s economic drivers, workforce trends and key industries shaping growth. Whether you’re a job seeker, policymaker, or business leader, understanding where the jobs are — and where opportunity is growing — can help you make smarter, more strategic decisions. Here are the 20 biggest employers in Arizona in 2025, based on data collected by Az Business magazine’s editorial team.
LOCAL NEWS: Arizona cannabis industry turns 5: What’s next?
INDUSTRY INSIGHTS: Want more news like this? Get our free newsletter here
1. Banner Health
Industry: Healthcare
Arizona employees: 46,731
2. Walmart
Industry: Department stores
Arizona employees: 37,979
3. Amazon
Industry: Online retailer
Arizona employees: 36,000
4. Kroger Co.
Industry: Grocery stores
Arizona employees: 19,920
5. HonorHealth
Industry: Healthcare
Arizona employees: 17,053
6. Dignity Health
Industry: Healthcare
Arizona employees: 14,667
7. Albertsons Cos.
Industry: Grocery stores
Arizona employees: 14,275
8. Wells Fargo
Industry: Financial services
Arizona employees: 13,000
9. Raytheon
Industry: Missiles and defense systems
Arizona employees: 12,500
10. CVS Health
Industry: Retail pharmacies
Arizona employees: 12,000
11. Mayo Clinic
Industry: Healthcare and healthcare education
Arizona employees: 11,315
12. The Home Depot
Industry: Home improvement stores
Arizona employees: 11,000
13. Freeport-McMoRan
Industry: Copper and gold mining
Arizona employees: 10,800
14. Grand Canyon University
Industry: Higher education
Arizona employees: 10,631
15. McDonald’s
Industry: Fast-food restaurants
Arizona employees: 10,600
16. Tenet Healthcare
Industry: Healthcare
Arizona employees: 10,350
17. Target
Industry: Department stores
Arizona employees: 10,000
18. Intel
Industry: Technology services
Arizona employees: 9,400
19. Bank of America
Industry: Financial services
Arizona employees: 9,330
20. Phoenix Children’s Hospital
Industry: Pediatric healthcare
Arizona employees: 8,623
