Phoenix Community and Economic Development celebrates significant economic development milestones in 2023

https://www.investinphoenix.com/news/17

<div class="ExternalClass18EFE8B29BE741BC82615AD071E61B56">Phoenix Community and Economic Development Department prioritized economic opportunity and fiscal health, leading the way in many sectors, such as manufacturing, advanced technology, and bioscience. The unemployment rate remained low while new job creation and workforce relocation to Phoenix continued. Phoenix assisted in the creation of 9,268 new jobs with an average annual salary of $75,300 and retention of 750 jobs. Additionally, $30.5 billion in total capital investment has been committed or underway.The following are notable accomplishments from January – December 2023:The department assisted 22 companies in establishing their home in Phoenix, creating 5,525 new jobs with a capital expenditure of nearly $29.3 billion and a total of 7.9 million square feet to be developed. TSMC's second fab, multiple food innovation companies, and four additional semiconductor suppliers, including MA-Tek, Organo, Hermes-Epitek and DNS Screen, chose Phoenix this past year.As part of Phoenix's commitment to retaining and assisting businesses large and small, staff performed 740 business visits throughout the year. Thirty-nine companies demonstrated their strategies to expand in Phoenix within the next year, which will result in over $1 billion in capital investment, 3,743 new jobs and 750 jobs retained. A few of the Phoenix companies that have completed or have planned expansions include Modern Industries, Blue Origin, Yellow Bird, FreightVana, AF Industrial, and Shamrock.Several areas in Phoenix are booming with growth. Central Phoenix saw significant growth with the residential projects, the Battery Lofts, The Derby, and Aspire Park Central, celebrating grand openings and bringing 776 units to the area. In other areas of Phoenix, the redevelopment of the MetroCenter Mall began, the first phase of the Paradise Valley Mall made significant progress and construction continued at Desert Ridge High Street. Additionally, Phoenix City Council approved a development agreement for Laveen Towne Center by Vestar, encompassing approximately 375,000 SF town center along the Loop 202 corridor.ASML, a key semiconductor industry supplier, is expanding to Phoenix with two new facilities. The Customer Service Center, which supports TSMC and other local semiconductor manufacturers, is operational and has created 146 new jobs. A National Training Center is currently under construction near Phoenix Sky Harbor International Airport, and ASML anticipates hiring 50 more employees. The Workforce Innovation and Opportunity Act (WIOA) work-based learning programs are a vital component of workforce development, offering individuals a practical and effective way to gain the skills and experience necessary to succeed in their chosen careers. Every year, Phoenix works diligently to grow and develop the future workforce and upskill the current workforce. This year alone, the Phoenix Business and Workforce Development team supported over 80 companies with over 1,000 open positions through virtual and in-person hiring and recruiting events. Phoenix provided over $500,000 in work-based learning contracts supporting more than 900 persons in training and workforce development.Phoenix continued leading the way in the bioscience and healthcare industry with a number of successes. SCHOTT MiniFab, a diagnostics and life sciences division of German-based SCHOTT, celebrated the grand opening of its first U.S. facility in the Cotton Center. ARENSIA Exploratory Medicine, a German-based clinical research organization, opened its first U.S. location. Novocure, a Swiss-based medical device company, opened its first western U.S. office in Midtown to be close to its collaborators, the Ivy Brain Tumor Center and Banner MD Anderson Cancer Center. The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) announced that it is expanding its presence on the Phoenix Bioscience Core campus.The year saw Phoenix's continued success and commitment to international relations and trade operations. The U.S. Foreign-Trade Zones Board released its Annual Report to Congress for Foreign-Trade Zone (FTZ) operations in 2022 and Phoenix FTZ 75 ranked #5 in merchandise received, up from #8 the previous year. FTZ 75 was #11 in exports, up from #18 the last year. Phoenix FTZ 75 was the only Arizona Zone to make the list, with more than $15 billion of merchandise received, more than $1 billion of exports, and more than 14,000 employees.Under the leadership of Phoenix Sister Cities, the City welcomed delegations from Suwon, South Korea; Medellin, Colombia; the Global Federation of Chinese Business Women; and Calgary, Canada. Outbound delegations included Suwon, South Korea; Himeji, Japan; Taipei, Taiwan and Ennis, Ireland. The City celebrated the 45th anniversary of Phoenix's relationship with Himeji, Japan, and the 35th anniversary with Ennis, Ireland.Championing to bridge the digital divide, Phoenix received a $700,000 Federal Communications Commission's (FCC) Affordable Connectivity Program (ACP) outreach grant. The grant funds are being used to educate residents about the program and assist them in completing applications to receive free or low-cost high-speed internet service. The City was the only municipal government in Arizona awarded the grant.In the spring, the Phoenix City Council approved a new home for the 2023 USL Championship Phoenix Rising FC soccer team at 38th and Washington Streets, the former Greyhound Racing Park. Phoenix Rising quickly redeveloped the site into their new facility, including fields, offices, concessions, locker rooms, and other critical improvements driving economic success to the area.Phoenix's steadfast focus on growing business, developing the workforce, and pursuit of economic success will not slow in 2024. Media Contact: Athena Sanchez, Interim Communications Manager <a href="mailto:athena.sanchez@phoenix.gov/">athena.sanchez@phoenix.gov/</a> +1 602 621 0507 </div>

Downtown from south skyline

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12/29/2023 5:36:57 PM