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Business and Careers Best Place to Live Fastest-Growing County

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Business and Careers Best Place to Live Fastest-Growing County Business and Careers Four cities in the Phoenix MSA were ranked among the top 10 "Best Places for 2018 Graduates to Find a Job" - WalletHub Best Place to Live Phoenix ranked among the top 20 "Best Places to Live in the U.S." - U.S. News & World Report INTRODUCTION The Phoenix-Mesa-Scottsdale, AZ, Metropolitan Statistical Area (MSA) is home to nearly 4.8 million residents, making it the 11th-most-populous metropolitan area in the United States. The vibrant growth of the Fastest-Growing County Phoenix metropolitan area has outpaced U.S. population growth for the past 21 years and is one of only 10 U.S. markets expected to see most of Maricopa County had the largest population increase in 2017 among the nation’s growth over the next 40 years. Metro Phoenix's low cost of counties in the U.S. living and dynamic, diversifying economy has lured thousands of people - U.S. Census Bureau to the region, including many from the country's large coastal markets. Greater Phoenix represents approximately 75% of the state’s economy and is one of the strongest in the nation. In recent years, the region's economy has evolved from relying on tourism- and consumption-based industries to serving as a major employment center with prevalent Deloitte Expansion segment clusters in high-tech manufacturing, biotechnology, software development, aerospace, manufacturing, and business services. The In Gilbert, Arizona, Deloitte is opening a 102,000-square-foot U.S. region's business-friendly policies have also provided the base for Delivery Center that will be supported by 2,500 employees numerous regional and corporate headquarters, including six Fortune - Deloitte 500 corporations. DEMOGRAPHICS ND 36.6 65% OF WORKERS ARE IN 2 MEDIAN AGE WHITE COLLAR LARGEST METRO OF METRO POSITIONS METROWIDE IN THE WESTERN RESIDENTS UNITED STATES 5.3m 599.0k 921.3k 1.9m $63.4k Greater Phoenix's The number of The metro area’s median Approximately 30% of 30% of Metro Phoenix population is forecast households in the household income housing units in Metro residents age 25 and Phoenix MSA is forecast is projected to reach to grow 11.3% over the Phoenix are renter- older hold a bachelor’s to grow 11.1% through $63,389 by 2023, up next five years, reaching occupied degree or higher 2023, surpassing 1.9 10.9% from 2018 nearly 5.3 million million in 2023 residents METRO EMPLOYMENT TRENDS AVERAGE ANNUAL WAGE BY OCCUPATION The Phoenix metro area encompasses a variety of industries with the majority comprised of high- Management $ tech, financial, and service industries. Some of the major employers located in the metro include 104.7k Banner Health, Wal-Mart Stores, Wells Fargo, Intel Corporation, and various local governments. Health Care Practitioners $ Greater Phoenix added approximately 86,800 jobs during the 12-month period ending in 83.7k November 2018, 19,700 of which were in the Professional and Business Services sector. Industry Breakdown Business & $ Construction Financial Operations 69.1k 6% Trade, Transportation, & Utilities Education $ Education & 47.0 k 19% Health Services 15% Construction $ 44.7k Sales $ 38.8k PHOENIX, AZ, MSA Financial Activities Transportation & $ EMPLOYMENT BY 9% Material Moving 38.8k Professional & Business Services SECTOR Office & $ 17% Administrative Support 37.9 k Government Production $ 36.9k Other Services 12% 3% Food Preparation $ Manufacturing Information & Services 25.6k 6% Leisure & Hospitality 11% 2% Source: BLS Occupational Employment Statistics Survey Source: BLS Current Employment Statistics Survey METRO EMPLOYMENT TRENDS NOVEMBER 2018 4.2% the monthly unemployment rate was down 10 bps annually Employment Trends PHOENIX MSA 12% 140,000 LARGEST EMPLOYERS State of Arizona 36,310 Banner Health 34,780 9% 70,000 Wal-Mart Stores 34,090 Wells Fargo 14,820 6% 0 City of Phoenix 13,780 Maricopa County 12,940 Arizona State University 12,720 3% (70,000) HonorHealth 11,300 Dignity Health 11,180 Intel Corporation 11,000 0% (140,000) Source: Maricopa County CAFR, June 2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* 2019* *Projected Unemployment Rate Jobs Added / Lost NOVEMBER 2018 86,800 jobs were created metrowide, a 4.2% Y-o-Y increase HEALTH CARE AND BIOMEDICAL MAYO CLINIC - PHOENIX CAMPUS 269,500 54,000 New Jobs Forecast Jobs Supported over Next Decade $8 billion 29 Major Hospitals in Economic Impact Greater Phoenix Metro Phoenix offers a strong, established health care and life sciences industry, with some of the nation’s major players, such as Mayo Clinic, Dignity Health, HonorHealth, and Banner Health contributing to the industry's $8 billion annual local economic impact. Metrowide health care employment is expected to expand 38% over the next decade through the creation of nearly 54,000 jobs. This outpaces the national growth rate of 21% over the same period, surpassing expansion in major health care hubs like Minneapolis, Philadelphia, San Francisco, and Seattle. EDUCATION ARIZONA STATE UNIVERSITY 212,500 58,300 Students Enrolled in Jobs Supported Higher Education $11.6 billion Economic Impact by ASU and MCCCD Metro Phoenix serves as the educational hub for the state of Arizona, supporting 58,300 jobs. The area is home to one of the nation's largest public universities, Arizona State University (ASU), and one of the nation's largest community college districts, the Maricopa County Community College District (MCCCD). Over 212,500 students are enrolled throughout the metro's largest institutions for higher education. ASU and MCCCD combined provide an economic impact of about $11.6 billion to the Metro Phoenix economy. TECHNOLOGY INTEL - OCOTILLO CAMPUS 83,000+ 46,400 Internet Jobs Jobs Supported Supported $1.4 billion 2,500 Economic Impact by High-Wage Tech Jobs ASU Research Park Created by Deloitte Home to over 83,000 high-tech jobs and tech giants such as Intel and Amazon, Metro Phoenix is becoming a hotbed for emerging technology companies attracted by its skilled workforce. Arizona State University's Research Park alone boasts a $1.4 billion economic impact and supports over 16,160 jobs among its more than 50 tenants. In fact, the metro's tech industry ranks among the fastest-growing nationwide, with tech companies continuing to expand their presence including USAA and Deloitte, which plans to create 2,500 high-wage tech jobs. PROFESSIONAL AND BUSINESS SERVICES STATE FARM REGIONAL HEADQUARTERS 6 No. 2 Fortune 500 Largest Job Sector Companies 19,700 372,800 Jobs Created Jobs Supported (Nov. '18 Y-o-Y) A business-friendly environment and proximity to several large economic hubs provide the foundation of Metro Phoenix's professional and business services sector. Comprising 372,800 jobs as of November 2018, this industry is the second-largest sector in the MSA. Companies in this segment include the regional headquarters of State Farm and the corporate headquarters of six Fortune 500 companies, including Avnet, Freeport-McMoRan, Republic Services, Insight Enterprises, Magellan Health, and ON Semiconductor. TOURISM $ FAIRMONT SCOTTSDALE PRINCESS RESORT 14 billion 235,000 Business Sales from Jobs Supported Tourism 44 million 1.8 million Annual Visitors Cactus League Visitors With its mild winters, world-class venues, and natural beauty, Metro Phoenix's leisure and hospitality industry supports approximately 235,000 jobs. Annually, Phoenix welcomes approximately 44 million visitors and $14 billion in business sales. Metro Phoenix hosts one of the largest supplies of lodging options in the nation, with over 490 hotels and resorts with more than 62,000 rooms. The metro is also home to multiple major sporting events including MLB's Cactus League, which drew approximately 1.8 million visitors in 2018. AEROSPACE AND DEFENSE $ $ LUKE AIR FORCE BASE 2.2 billion 3.5 billion Economic Impact by Defense-Related Luke AFB Exports Annually 5,100 Jobs Supported by Luke AFB Located in the city of Glendale, Luke Air Force Base (AFB) has a local annual economic impact of approximately $2.2 billion and supports approximately 5,100 jobs. Luke AFB will house 144 of the new F-35 joint-strike fighter jets, making it the largest pilot training base in the country. Greater Phoenix is also home to some of the nation's top defense contractors including General Dynamics Mission Systems, Northrop Grumman, Boeing, Honeywell Aerospace, and BAE Systems, which exports over $3.5 billion in defense-related equipment annually. CONSTRUCTION AND DEVELOPMENT FAB 42 HEALTHCARE CONSTRUCTION PROJECTS $7 billion $1.4 billion Investment Total Investments 10,000 2,000 Jobs Supported Jobs Created at Mayo Clinic Multinational technology corporation Intel is investing over $7 billion to Mayo Clinic plans to invest $648 million, which will nearly double the footprint complete Fab 42 in Chandler, Arizona. The cost of building was about $1.5 of its phoenix campus. To meet the demands of its patients, Mayo Clinic plans to billion to construct with the rest of the investment going towards equipment. add 1.4 million square feet of space that will improve clinical capacity, support The new facility is anticipated to be the most advanced semiconductor factory services, and nearby infrastructure. This investment also calls for increasing in the world, producing microprocessors to power data centers and hundreds the total number of licensed beds at the campus from 280 to 374 by 2023 of millions of smart and connected devices. Forecast for completion in 2021, and creating over 2,000 new jobs by 2029. Additional medical center projects Fab 42 will create approximately 3,000 permanent high-tech, high-wage jobs under construction or planned in the valley totaling nearly $1.4 billion include for equipment technicians, facilities-support engineers, process engineers, expansions at Chandler Regional Medical Center, Banner Boswell Medical and technicians. The facility will also generate 7,000 indirect positions for Center, and Mercy Gilbert Medical Center, as well as new facilities HonorHealth supporting factory operations.
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