Greater Phoenix is an attractive destination for workers, expanding faster than any other U.S. market with an injection of nearly 100,000 new residents annually. Employment opportunities are growing just as fast. With the announcements of more than 10,000 jobs over the last year, it’s clear that momentum is building throughout the Valley.
Massive growth in advanced industry is bolstering an innovation-centered economy, and Greater Phoenix is emerging as one of the most dynamic economies in the world. Global brands are drawn to the region’s sense of place — a market with an elevated quality of life. Decades of regulatory policy and long-standing public-private partnerships have created a pro-business environment and workforce that supports expanding and relocating companies. That, combined with the lifestyle found in Greater Phoenix, has made this market one of the most attractive places to launch and scale a business.
Our institutions of education are becoming globally known for producing STEM talent and, at the same time, the market has invested in a modern infrastructure to support new business and make this a region that people want to call home. This growing workforce is rising to meet the demands of a diversified economy.
With an even broader take on jobs and job creation, the cover story in this edition of In Business Magazine explores the topic, from what’s attracting these employers to our Valley to what that means for the future of our economy. The significance of what’s happening here attracted the attention of the President of the United States, Joe Biden, who recently came to speak at the Tool-In ceremony for Taiwan Semiconductor Manufacturing Company — one of the employers of note in this article, representing the largest direct foreign investment in Arizona history.
In another look at the economy, as Stephen Miles cautions in his feature article “If You Are Reading This, You Are Already Behind,” there is a new business climate that will require a drastically different toolkit. He discusses the need for CEOs and their leadership teams to figure out a new way to lead and win. And the Economy feature looks specifically at interest rates as Ryan Frette discusses “Strategizing around Volatile Interest Rates.”
Environmental issues are intruding more and more into business decisions, and Henry R. Darwin, a former EPA executive and state environmental director, offers tips in his legal feature, “How to Respond to an EPA or State Enforcement Action.” On another front, while cyberattacks continue to plague businesses, this month’s “By the Numbers” feature shows another threat: social media attacks.
Providing readers with a range of business-relevant stories, from healthcare to commercial real estate and from finance to leadership, In Business Magazine continues its mission to help strengthen and grow our business community. I’m pleased to have been part of bringing this January edition to you. Wishing you a happy new year,
President and Chief Executive Officer
Greater Phoenix Economic Council
Chris Camacho serves as president and CEO of the Greater Phoenix Economic Council, one of the longest-standing public-private partnerships for economic development across the country. As chief executive, Camacho leads the development and execution of the region’s strategic economic strategy; oversees domestic and international business development; and ensures the market position remains competitive through coordination with partner organizations, private-sector leaders, and municipal and state leadership.
He has led the attraction of more than 460 companies during his tenure, creating nearly 85,000 jobs and $24 billion in capital investment. Some notable projects include TSMC, Apple, Silicon Valley Bank, Microsoft, GoDaddy, Yelp, Amazon, Garmin, General Motors, ElectraMeccanica, Zoom and HelloFresh, and headquarters that include Benchmark Electronics, Carlisle Companies and Rogers Corporation.