Arizona’s economy will expand 2.6 percent this year and 2.8 percent in 2018, topping U.S. growth estimates of 2.2 percent both years, according to a quarterly study by BMO Financial Group of Toronto. Business conditions — which include population growth, exports and bankruptcies — are the strongest component of Arizona’s economy, according to the analysis, while state finances — including tax receipts, state-government finances and pension liabilities — are the weakest.
Arizona’s hospitals generate an economic impact of $23.8 billion, according to a new study commissioned by the Arizona Hospital and Healthcare Association.
For a look at the top 10 hospitals in Arizona generating the greatest economic impact, click here.
People want to move here.
Maricopa County tops the U.S in highest annual population growth, according to U.S. Census Bureau data from July 2015 to July 2016. Maricopa County gained 81,360 people during that 12-month time frame. Harris County, Texas (i.e. Houston) was second at 56,587.
The Valley’s growth translates into 222 people per day moving to the desert.
That’s good for retailers, restaurants, attracting businesses who need workers, apartment builders and filling those empty offices and shopping centers.
There are more than 4.24 million people living in Maricopa County.
We invite you to view the Cooke Multifamily Pipeline Report, a comprehensive look at the 2016 multifamily market in an exploration of top sub-markets of Arizona. The report touches on multifamily and development trends including Phoenix multifamily vacancy, population overview and employment overview trends.. Click to view the full report or contact us at firstname.lastname@example.org for a complimentary printed copy.
Arizona has about 110 hospitals across the state, according to U.S. News & World Report. Four are nationally ranked and seven others meet national high performance standards.
Of the 100-plus hospitals, AZRE compiled a list of the 12 most influential healthcare projects in Arizona. The list is in no particular order and projects were chosen to represent a range of geographic regions, healthcare providers and hospital specialties.
There have been 260,000 square feet of new industrial leases at two new Trammell Crow Company developments in the Deer Valley area of north Phoenix. Industrial and manufacturing tenants are looking at Deer Valley and north Phoenix as alternatives to the more expensive Scottsdale Airpark submarket.
The final phase of the Loop 303/Interstate 10 connection in Goodyear is getting underway by Arizona Department of Transportation.
The $83 million project will build the south half of the interchange and complete the four remaining ramps connecting the two freeways. Loop 303 will be extended south to Van Buren Street with an interconnect to Cotton Lane south of Van Buren Street. Cotton Lane parallels the 303 in most locations.
The city of Phoenix is on the verge of landing 1,000 new jobs and a $23.7 million expansion of Farmers Insurance Exchange in North Phoenix. The city of will invest $500,000 in workforce training funds. Phoenix was selected after a multi-state site selection competition. The win is an expansion of the company’s 500-employee workforce in the Valley, but existing and new employees will move to the new building at Pinnacle Peak Road and Interstate 17.
Just south of Metrocenter Mall, situated at the northwest corner of Dunlap Avenue and the I-17 Freeway, sits a major retail center on the verge of redevelopment. The property, which features approximately 210,000 square feet of retail space on just over 15 acres of land, is known as Metro Marketplace and its new owner has big plans.
An excellent value-add, 324-unit, Class A community “Ironhorse at Tramonto” features extensive resort-style amenities and located in the highly desirable master-planned community of Tramonto of North Phoenix.
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