If you are looking to find your way to Phoenix and build a business in the area or find lucrative employment, you might want to research the kind of work and investment opportunities available there. Luckily, Phoenix is a bustling city with emergent high-tech manufacturing, retail, and service industries. The area also boasts a well-developed natural resource extraction industry. Here are the most populated industries in Phoenix in descending order.
Phoenix has a very well-developed manufacturing industry that employs 7.2 percent of the adult population. Manufacturing in the city is largely focused on high-tech, high-quality goods. A good example of the kind of complex manufacturing that takes place in Phoenix is Aeronautical manufacturing. The Rotor X factory in the suburb of Chandler produces high-quality commercial rotorcraft. Similar high-quality manufacturing concerns produce computer components and healthcare products.
Finance And Insurance
Roughly 7.3 percent of the adult Phoenix population work in the finance and insurance industries. The city has been encouraging financial services firms to move into the bustling downtown area with relatively low corporate taxes. The financial sector is likely to grow in size as the city encourages high revenue industries to move in.
Education is tied with finance and insurance: employing 7.3 percent of the population. This number might seem rather low to the casual observer – who might note that Phoenix (and nearby Flagstaff) are very well appointed in terms of higher education.
A whopping 11.6 percent of the adult Phoenix population work in retail. This is due in part to the boom in eCommerce – selling goods online. The eCommerce industry is a highly developed and swiftly evolving field. The best companies work hard to increase their presence by employing tools like Stryde’s enterprise SEO, highly competitive prices, and complex social media campaigns. Phoenix’s retail industry is not exactly a high street affair: it is truly global.
Administrative work is essential in almost every industry, which might explain why 52,900 people in Phoenix have taken on roles in this area. Administrative workers are the backbone of many businesses.
The Phoenix construction industry saw a massive 22 percent growth in 2020. This means that construction is likely to climb its way up this list in the coming years. The construction boom is largely due to increases in other sectors that have necessitated many people and businesses.
Phoenix has a very well-developed hospitality industry. Although the hospitality industry has taken a distinct hit due to the COVID-19 pandemic, it was experiencing lots of growth before the virus hit and is expected to bounce back well after the pandemic recedes. The city has positioned itself as a competitive venue for conferences and business meetings.
12.3 percent of Phoenix residents work in the healthcare industry. This includes the pharmaceutical industry. This is no surprise: healthcare is a major employer all over the United States. In terms of healthcare quality, Phoenix hospitals hover somewhere around the national average in general, making it a well-suited area for people to embark on a medical career.