DOING BUSINESS IN ARIZONA

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

Doing business in ArizonaArizona 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
Doing business in Arizona
A hiker at sunset in Arizona (Photo: 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

COMPANY
TSMC
CITY
Phoenix
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

Arizona Commerce Authority
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.

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.

Maricopa Economic Development AllianceThe 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

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