DOING BUSINESS IN ARIZONA

Arizona Commerce Authority
602-845-1200
sandraw@azcommerce.com
www.azcommerce.com

“Arizona has become the global epicenter for advanced industries, with significant investments in semiconductors, battery, aerospace and defense, and biotechnology. Fueled by world-class universities and community colleges, skilled workforce, modern transportation infrastructure, and unbeatable quality of life, Arizona’s business ecosystem is second to none.”
— Sandra Watson, President and CEO,
Arizona Commerce Authority
doing business in Arizona
Downtown Phoenix, Arizona (Photo: Adobe Stock/Kevin Ruck)

TARGETED GROWTH SECTORS

Semiconductors: Arizona leads the nation in semiconductor investments, spanning the value chain — manufacturing, R&D, equipment, suppliers, packaging, and more.

Batteries: With more than $8 billion in industry investments, Arizona’s battery ecosystem spans manufacturers, recyclers, mining and minerals, and more.

Aerospace and Defense: Arizona’s top five A&D industry is bolstered by global leaders across manufacturing, aviation, MRO operations, and more.

 TOP PROJECTS

COMPANYCITYINVESTMENT
TSMCPhoenix$25 billion
ASMScottsdale$300 million
FrameTecCasa Grande$150 million
SyscoMesa$102 million
KoMiCoMesa$50 million

FEATURED LOCATIONS

The Arizona Commerce Authority (ACA) is Arizona’s statewide economic development organization with a mission to advance Arizona’s economy by attracting out-of-state companies to establish operations in Arizona; working with existing companies to expand in Arizona; and helping entrepreneurs create new Arizona businesses.

Entrepreneurs and defense agencies come for the 964-square-mile restricted airspace and the municipal airport’s 12,001-foot runway, while Blackstar Orbital is already investing as the city pursues a FAA Spaceport Reentry license. Sierra Vista’s highly educated, tech-savvy workforce and a relaxing lifestyle are unmatched.

City of Tucson
The Office of Economic Initiatives coordinates the city’s economic development programs for the purpose of attracting jobs and investment to the City of Tucson. The Office of Economic Initiatives also offers local small business and entrepreneurial assistance and encourages regional workforce development efforts to foster a sustainable and diverse local economy.

FAST FACTS

Population (2023 est.): 7,431,344¹
Largest Cities (2024 est.): Phoenix (1,622,607); Tucson (548,772); Mesa (513,567); Chandler (281,107); Gilbert (277,490)¹
Real GDP (2023): $422.4 billion²

¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

WORKFORCE TRAINING

The Future48 Workforce Accelerators represent Arizona’s latest workforce advancement, connecting students with the skills and know-how needed for jobs in the state’s growing advanced manufacturing industry. The accelerators bring together industry leaders with community colleges to fast track new talent.

TOP BUSINESS FACILITIES RANKINGS

#1 Semiconductors2024 State Rankings
Top 10 Aerospace/Defense2024 State Rankings
Top 10 Best Business Climate2024 State Rankings
Top 10 Customized Workforce Training2024 State Rankings
Top 10 Solar Power (Growth)2024 State Rankings
#1 Manufacturing Hubs (Large): Phoenix/Mesa/Chandler2024 Metro Rankings
Top 5 Fastest Growing Counties (population growth): Maricopa County2024 Metro Rankings
Top 10 Fastest Growing Counties (net migration): Pinal County2024 Metro Rankings
Top 10 Sustainable Cities: Tucson2024 Metro Rankings
Top 10 Remote Work: Tucson2024 Metro Rankings
From the July / August 2024 issue of Business Facilities

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