Centene Corporation, a leading healthcare enterprise committed to helping people live healthier lives, announced that its subsidiary, Arizona Complete Health, the largest Medicaid health plan in Arizona, has been selected by the Arizona Health Care Cost Containment System (AHCCCS) – Arizona's single state Medicaid agency – to provide managed care for the Arizona Long Term Care … [More]
Looking Ahead to 2024: More Homes for Sale, Improved Affordability
Home buying will remain expensive, so expect a competitive market for homes that need some work and for single-family rentals
The housing market's headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room — but only a bit. Buying a home will remain expensive, keeping pressure on the rental market to cater to families that will be renting for longer than … [More]
Governor’s Bipartisan Water Policy Council Delivers Critical Recommendations to Protect Arizona’s Water Security
The Governor’s Water Policy Council submitted a suite of recommendations to Governor Hobbs to protect the state’s water future and address challenges in urban and rural Arizona. The Council’s submission includes proposals to close loopholes to protect consumers throughout Arizona and improve Arizona’s Assured Water Supply Program to promote sustainable growth and responsible … [More]
Semiconductor Packaging Co. Announces U.S. Advanced Packaging and Test Facility in Peoria
Representing a $2 billion investment, the new facility will create 2,000 new jobs
Amkor Technology, Inc., a leading provider of semiconductor packaging and test services, has announced its plan to build an advanced packaging and test facility in Peoria, Arizona. By the time of full project completion, Amkor projects to invest approximately $2 billion and employ approximately 2,000 people at the new facility. Amkor is the only US-headquartered OSAT … [More]
State and Major Employers Meet for Clean Energy Discussion at Honeywell Facility in Phoenix
State officials and major employers in Arizona met today at Honeywell’s Advanced Air Mobility Lab in Phoenix, for a private roundtable discussion about maximizing clean energy investment in the state. The roundtable event — Powering Arizona: Maximizing Historic Federal Investment for a Clean Economy — connected officials from the Governor’s Office of Resiliency with … [More]
Military Economic Impact on Arizona Has Tripled since 2000, Says Report
Governor Katie Hobbs announced the release of the updated Military Economic Impact Report, commonly referred to as the Maguire Report. This report, sponsored by the State of Arizona and supported by the Arizona Department of Emergency and Military Affairs, highlights the significant economic contributions made by Arizona's military bases and National Guard operations to the … [More]
Updated Economic Impact Report Released for New Mega Resort in Glendale
VAI Global Development announced the results of the updated, comprehensive Economic Impact Analysis conducted by Applied Economics for VAI Resort. It highlights the positive contributions that VAI Resort will make to the thriving Glendale community. The updated Economic Impact Analysis underscores the substantial economic benefits that VAI Resort is expected to bring to the … [More]
October Shows a Slow Start to the Quarter, but Metro Area Still Outperforming National Home Sales Trends
Fourth quarter of 2023 started slow with pending sales down 30.6% from last October, according to the latest data from Phoenix REALTORS. Year-to-date, closed sales are down 17% from the same period the previous year. The numbers follow seasonal trends typical for this time of year, as real estate activity decreases approaching holiday months. "The Phoenix metropolitan area is … [More]
Rent Remains High with More Properties Offering Incentives, Especially Phoenix
New construction surge prompts landlords and property managers to provide more perks
Rental concessions—offers meant to entice tenants, such as free months of rent or free parking—are at their highest level in more than two years despite strong renter demand, Zillow's latest data shows. That's because property managers are now likely competing for tenants, as new, primarily upscale buildings from the recent construction boom enter the rental … [More]
New Actions Strengthen Arizona’s Premier Semiconductor Talent Pipeline
Governor Hobbs joined leaders from industry, government, academia, and childcare nonprofits to announce a robust set of actions aimed at enhancing Arizona’s premier semiconductor workforce, increasing opportunities for apprenticeships, and supporting Arizona workers and families. The actions build on Arizona’s already substantial network of training and education assets for … [More]
Coffee with a Cause: Noble Ground Coffee Opens Flagship Café in Phoenix, Supporting Underserved Communities
Noble Ground Coffee, a unique coffee concept dedicated to making a lasting impact in the community, is celebrating the grand opening of its flagship café and first location in Phoenix. Located at the corner of McDowell Road and 7Th Avenue, the grand opening event, ribbon cutting, and coffee toast was a resounding success. Guests had a chance to win signed merchandise from the … [More]
New Data Shows Arizonans Are Less Content and Volunteer Less, Yet Want to Engage in Solutions
Highlighting gaps in civic health ahead of a critical election year
Center for the Future of Arizona (CFA), a nonpartisan, nonprofit organization committed to bringing Arizonans together to create a stronger and brighter future for the state, releases new data highlighting Arizona's need for improved civic engagement in partnership with the Arizona Center for Civic Leadership at The Flinn Foundation. As it stands, Arizona ranks … [More]
Post-Pandemic Dining Traffic Stabilizes in American Downtowns, Phoenix Near 2019 Levels
Square released the latest edition of its quarterly Restaurant Industry Report, which uses data across Square’s food and beverage sellers to examine dining trends and shifts in both consumer spending and restaurant wages. As restaurants continue expanding their offerings to include meal kits, branded merchandise, and more, some eateries are now offering prix fixe … [More]
Holiday Sales Expected to Cool This Season, Phoenix on ‘Nice’ List
Holiday retail sales growth is expected to moderate this season following two explosive years for consumer spending, according to CBRE’s annual Holiday Retail Trends Guide. Inflation, lower savings rates, rising credit card debt and resumption of student loan payments have all affected both consumer budgets and confidence. Year-over-year retail sales in the Q4 holiday period … [More]
Inflation and Labor Struggles Continue to Hinder the Small Business Economy
The Small Business Economic Trends survey shows small business owners are not feeling optimistic in the current economic environment. The Optimism Index decreased 0.1 points in October to 90.7, marking the 22nd month below the 50-year average. The last time the Optimism Index was at or above the average was December 2021. “This month marks the 50th anniversary of NFIB’s … [More]
Inflation Reduction Act Compliance Brings Apprentice Program to Four New Solar Projects in Arizona and Texas
McCarthy Building Companies Inc. recently began construction of four new large-scale solar projects located in the Southwestern United States and are targeting Inflation Reduction Act (IRA) compliance. The projects, which are in varying stages of construction, will bring a combined total of over 1GW of renewable energy to communities in Arizona and Texas once fully … [More]
Metro Phoenix Office Market Posts 14-Year Largest Negative Net Absorption
Large Tenant Move-Outs Overwhelm Market as Leases Expire Following Pandemic
Third quarter brought the largest level of negative net absorption in 14 years to the Greater Phoenix office market, according to a report released by Colliers in Arizona. Multiple full-building vacancies impacted the market during third quarter, resulting in -1.16 million square feet of net absorption. Third quarter, similar to first quarter 2023, brought multiple large … [More]
Abrazo Health Starts First Phase of Buckeye Campus
Abrazo Health announced today that will be breaking ground soon on the first phase of development for its new medical campus in Buckeye at I-10 and Verrado Way. The 27-acre campus will include medical offices, ambulatory services and an acute care hospital. The first phase will be a three-story, 60,000-square-foot medical office building. Tenants are slated to include … [More]
