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.
Chandler-based Microchip Technology Inc. completed its largest acquisition Tuesday.
The semiconductor manufacturer ended up buying Microsemi Corp. for $10.3 billion. It was originally reported as a $10.15 billion transaction.
Microchip was ranked as the 27th largest global semiconductor supplier in 2017, and Microsemi was ranked 39th.
The combined sales of $5.6 billion for the two companies would have ranked Microchip as No. 20 last year, Matas said.
“This means the Valley will be headquarters to or have a significant manufacturing presence from three of the world’s top 20 semiconductor companies: Intel, Microchip, and ON Semiconductor,” Matas said in March.
A 700,000-square-foot mixed-use development will be built on 53 acres near Loop 202 and Kyrene Road in Chandler.
Conor Commercial Real Estate and WHI Real Estate Partners LP plan to develop the Lotus Project in two phases. The first phase will be built on a speculative basis and include four industrial buildings totaling 470,000 square feet.
First-phase construction will begin in September and is expected to be finished in September 2019, said Mary Michaelson, a spokeswoman for McShane Cos., parent company of Conor Commercial Real Estate.
The long-talked-about WingSpan Aviation Center will soon be breaking ground and starting construction on an 80,000-square-foot airplane hanger and office space development at the Chandler Municipal Airport.
The project, which was brought before the Chandler City Council in 2015, is being built upon a 4.8-acre site located just south of the 202 Santan Freeway between Cooper and McQueen roads. It will include four, two-story hangars and 28,000 square feet of office space.
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.
With demand for Tempe office space at an all-time high, Lincoln Property Company (LPC), Goldman Sachs and City of Tempe Mayor Mark Mitchell broke ground today on the second Class A office building at The Grand at Papago Park Center.
Totaling 352,000 square feet at 1027 W. Roosevelt Way in Tempe, Arizona, The Grand Building Two is one of Arizona’s largest ever office buildings to break ground as a purely speculative endeavor. It is scheduled for completion in second quarter 2019, becoming the second of eight Class A office buildings slated to be built by Lincoln Property Company within the 60-acre mixed-use project called The Grand at Papago Park Center.
The Westech Business Center broke ground today, marking the latest speculative industrial development to begin construction within the City of Chandler as it aims to attract more jobs and companies.
Once completed in October, the 122,505-square-foot industrial facility will incorporate an attractive design coupled with state-of-the-art features making it ideal for a myriad of industrial users, including corporate headquarters, manufacturing, assembly, logistics and last mile distribution.
Orbital ATK continues its growth in the Valley with plans to expand its launch vehicles operations with a new Chandler campus.
The new Orbital campus will be at Willis Road along Chandler’s Price Corridor after the Chandler City Council recently approved a resolution and re-zoning to support the development.
Dulles, Virginia-based Orbital ATK Inc.’s launch vehicle business in Chandler began in the 1980s and has grown to nearly 1,600 employees.
The expansion for the global aerospace and defense technology firm isn’t a surprise since earlier this month the company announced it was planning to hire another 350 mainly high-paying positions within the next year and a half while it prepares to build the largest rocket yet in Chandler.
This month, Chandler received the No. 1 ranking in WalletHub’s national survey of the best places to find a job in 2018, capping a year of growth for the city and signalling further investment to come.
The report gave 180 U.S. cities a ranking based on 26 indicators sorted between two primary factors, job market and socioeconomics, with job market weighted more heavily. The report favors cities like Chandler, which offer a job market with employment opportunity, industry variety and job security. Socioeconomic factors such as median income and cost of living are also considered.
Chandler ranked No. 3 in job market and No. 9 in socioeconomics. Four of the top five cities in the report were in Arizona.
GET THE LATEST NEWS
- Arizona Market News
- Brad Cooke
- Casa Grande
- Cindy Cooke
- Colliers Cooke Team
- Colliers International
- Deer Valley
- East Valley
- Just Listed
- Knowledge Leader
- Las Vegas
- Market Report
- Metro Light Rail
- MF Pipeline
- Multifamily News
- New Developments
- North Phoenix
- Northern Arizona
- Pipeline Report
- Press Releases
- Queen Creek
- Real Estate Market
- SE Valley
- West Valley