Arizona has more than 8,000 technology companies operating in the state, with a growing tech workforce of more than 168,200 jobs, a new Arizona Technology Council report found. The tech community has seen a 1.38 percent employment growth, which ranks the state second in the Southwest and ahead of California, according to the report.
Grand Canyon Education Inc. (Nasdaq: LOPE) has $120 million on its construction plate this summer, with additional building slated for later this year.
The company is in the midst of building a 150,348-square-foot Colangelo College of Business Building, two dorms, a 2,400-space parking garage, a 135,000-square-foot Canyon Activities Center on its Grand Canyon University campus at 33rd Avenue and Camelback Road in Phoenix.
Grand Canyon University’s business college needs the space because it is experiencing tremendous growth, said Brian Mueller, president of GCU and CEO of Grand Canyon Education.
The Greater Phoenix multifamily market got off to a hot start to 2018. Vacancy continues to retreat even as new inventory comes online, while both rents and sales prices are trending higher.
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Banner Health — which has the distinction of being the state’s largest health system, nonprofit and private employer — has $1.7 billion worth of construction projects on its drawing board this year.
The majority of those projects — $1.4 billion — are in Arizona for the company that operates in six states. Of the 386 active projects across its markets, 285 are in Arizona, said Kip Edwards, vice president of facilities services for Banner Health.
The Phoenix-based nonprofit has kept that building pace for the past several years, with 367 active projects totaling $1.7 billion last year. In 2016, it had 322 active construction projects totaling $1.9 billion. It also had 337 active projects totaling $1.5 billion in 2015.
That’s not to say that Banner has invested $5.1 billion over the past several years because many of those projects are ongoing, multi-year projects. That also means not all of the $1.7 billion will be spent in this calendar year.
Much of Arizona’s $1.4 billion in construction projects are part of ongoing, multi-year projects at its two big medical centers in Phoenix and Tucson, which started construction in 2015 and 2016.
Solera Health Inc. has moved into its new headquarters in downtown Phoenix, taking nearly 20,000 square feet of space.
The Phoenix company has the entire third floor of 111 W. Monroe, with an option to take another 10,000 square feet on the second floor.
Solera Health currently employs 92 people in the new space, and Schmidt said she plans to grow to 125 employees by the end of the year.
Phase 2 will include a 2.5-mile extension of the system to the airport’s rental car facility near 16th Street and Buckeye Road, two new stations, an expanded maintenance facility and 24 additional cars.
The Phoenix metropolitan area has added more than 500,000 residents since 2010 — making it one of the fastest-growing regions in the country.
Arizona’s largest metro added 544,141 residents between 2010 and 2017, according to estimates released this morning by the U.S. Census Bureau. That translates to a growth rate of 12.98 percent. That pegs Phoenix as the 10th fastest-growing metro in the U.S.
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