(The Center Square) – Rankings and data continue to show that Maricopa County has benefited from economic development in recent years.
Site Selection magazine The report assessed the total amount of investment, job creation, and projects between the beginning of 2023 and spring 2024, and gave each county a total point rating to rank it first in the U.S. for economic development. Maricopa County came out on top, followed by Harris County, Texas, home to Houston. Franklin County, Ohio, home to Columbus, and Fulton County, Georgia, home to Atlanta, also ranked high.
“Maricopa County's top ranking this year is a testament to the talent of Greater Phoenix's economic development community and the decades of planning that have brought us to this point,” Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said in a statement to The Center Square. “This recognition is furthered by the fact that a variety of impactful, cutting-edge industries chose our county thanks to our strong workforce development network, a testament to effective, smart growth that provides long-term benefits to businesses and residents alike.”
Meanwhile, the Arizona Chamber of Commerce credited the Arizona Commerce Authority with helping to spur growth in the state, saying it has played a major role in attracting businesses to the state rather than nearby competitors Texas and California.
The ACA was recently continued following opposition in Congress over the legality of the business attraction. An inspector general's report raised questions about the purchase of Super Bowl tickets for the CEO Forum. Attorney General Chris Mays later said the purchase violated state law. Gift Clause, This sparked opposition from the governor. Katie Hobbs In January.
Several restrictions have been added to ensure that the ACA will not violate the gift clause in the future, and will remain in place until at least 2029.
“This ranking is a testament to the success of the Arizona Commerce Department, which has a proven track record as one of the leading state economic development agencies in the nation,” the organization's president and CEO Danny Seiden said in a statement to The Center Square. “Lawmakers and the Governor deserve credit for extending the ACA for another five years, ensuring that it and economic development agencies across the state have the tools to attract more high-quality, high-paying jobs. As long as we continue to maintain our momentum and pursue public policies that enhance our competitiveness, our region is well positioned for continued growth.”
This development goes beyond just companies looking to set up base in the state. Centre Square According to Internal Revenue Service data from 2021 to 2022, Arizona's rapid population growth contributed $3.7 billion to the state's total revenue. Notably, the state's population grew by 36,841 people, with more people choosing to come to the Grand Canyon State rather than relocating to California.
