DOING BUSINESS IN ARIZONA
Arizona Commerce Authority
602-845-1200
sandraw@azcommerce.com
www.azcommerce.com
“Arizona has become the international epicenter for advanced manufacturing in recent years. Arizona has attracted significant investments in semiconductors, electric vehicles, batteries, aerospace and defense and more. Fueled by our universities and community colleges, a skilled and growing workforce, a low-cost business climate and proximity to global markets, our manufacturing ecosystem is second to none.”
— Sandra Watson, President and CEO,
Arizona Commerce Authority
TARGETED GROWTH SECTORS
Semiconductors: Arizona’s rapidly expanding semiconductor ecosystem leads the nation. Strategic higher education partnerships are ensuring a ready talent supply and driving innovation across equipment and materials, design, manufacturing, and advanced packaging.
Electric Vehicles: Arizona supports EV innovators and supply chain operators, with leaders like Lucid, Nikola, Nxu, and more expanding world-class operations in the state.
Batteries: Battery technology is one of many emerging industries flourishing in Arizona. Battery manufacturers include American Battery Factory, Sion Power, and EVelution Energy, and battery recyclers Li-Cycle and Ecobat.
TOP PROJECTS
| COMPANYTSMC | CITYPhoenix | INVESTMENT$40 billion |
| LG Energy Solution | Queen Creek | $5.5 billion |
| American Battery Factory | Tucson | $1.2 billion |
| Procter & Gamble | Coolidge | $500 million |
| Applied Materials | Tempe | $200 million |
FEATURED LOCATIONS
The Arizona Commerce Authority (ACA) is a public-private partnership that leads statewide economic development. The unique structure of the ACA brings together leaders from private industry, academia and all three branches of state government.
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.
The Maricopa Economic Development Alliance (MEDA) is the City of Maricopa’s closest economic development partner. As a 20-year-old city in the Phoenix metro region and one of the fastest growing in the entire nation: opportunity, growth, prosperity, education, diversity, government support, work force, speed to market, plentiful land and a critical “designation of assured water supply”, are just a few of the characteristics that have helped explode this modern-day American Dream. Intrigued about our storybook growth and want to build a lasting community legacy with your business?
FAST FACTS
Population (July 2022 est.): 7,359,197¹
Largest Cities (2020): Phoenix (1,611,345); Tucson (541,859); Mesa (505,860); Chandler (277,556); Gilbert (269,206)¹
Real GDP (2022): $356.4 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
WORKFORCE TRAINING
Future48 Workforce Accelerators: Arizona announced a $30 million investment to establish workforce accelerators. In June 2023, Arizona announced the first two accelerators in Kingman and Yuma, and the third in Maricopa County in November 2023. The training programs will be overseen by the Arizona Commerce Authority in coordination with higher education and industry partners.
TOP BUSINESS FACILITIES RANKINGS
| #1 Semiconductors | 2024 State Rankings |
| Top 10 Aerospace/Defense | 2024 State Rankings |
| Top 10 Best Business Climate | 2024 State Rankings |
| Top 10 Customized Workforce Training | 2024 State Rankings |
| Top 10 Solar Power (Growth) | 2024 State Rankings |
| #1 Manufacturing Hubs (Large): Phoenix/Mesa/Chandler | 2024 Metro Rankings |
| Top 5 Fastest Growing Counties (population growth): Maricopa County | 2024 Metro Rankings |
| Top 10 Fastest Growing Counties (net migration): Pinal County | 2024 Metro Rankings |
| Top 10 Sustainable Cities: Tucson | 2024 Metro Rankings |
| Top 10 Remote Work: Tucson | 2024 Metro Rankings |
From the July / August 2024 issue of Business Facilities
