News Summary
In Fiscal Year 2025, Arizona created 24,285 new jobs and attracted $31 billion in local investments, according to the Arizona Commerce Authority. The average wage for new jobs stands at $95,928, exceeding state goals significantly. Major projects by companies like Mayo Clinic and TSMC are set to enhance the state’s economy further. Governor Katie Hobbs emphasized the importance of these developments for workforce strength and innovation. The achievements reflect a thriving business climate and community support for ongoing projects.
Arizona has achieved remarkable success in economic development for the Fiscal Year 2025 (FY25), with the creation of 24,285 new jobs and a staggering $31 billion commitment in local investments. The notable achievements were reported by the Arizona Commerce Authority (ACA), which oversaw these developments, culminating on June 30, 2025.
The new jobs are expected to come with an average wage of $95,928, fulfilling the ACA’s goals for the year at 121% for job creation, 162% for average wage, and an impressive 791% for capital investment. Governor Katie Hobbs highlighted the significance of these developments in strengthening Arizona’s workforce and preparing for future innovations.
The ACA President, Sandra Watson, noted that Arizona’s exceptional business climate and skilled workforce continue to attract major global players in high-tech industries. There have been significant expansions in various communities across Arizona, including Apache Junction, Avondale, and Phoenix.
Major Contributions to Job Creation and Investment
Since 2011, the ACA has facilitated the establishment of 1,360 companies, resulting in over 312,000 new jobs and more than $194 billion in capital investment. This thriving economic activity has fostered workforce development, supported small business growth, and improved supply chains across the state.
Two specific projects are poised to greatly impact Arizona’s economic landscape. The Mayo Clinic is undertaking a $1.9 billion expansion that will bring 3,500 high-paying jobs in the medical and bioscience sectors. Meanwhile, the Taiwan Semiconductor Manufacturing Co (TSMC) has committed an additional $100 billion to its U.S. operations, which will lead to thousands of new advanced manufacturing jobs. TSMC’s expansion includes plans for two additional package fabrication facilities and a research and development center, along with necessary infrastructure improvements in roads and energy.
Community Support
Local business leaders express optimism about the long-term effects of these developments on job creation and overall economic growth. A recent statewide poll indicates a high level of community support for ambitious projects like Axon’s proposed headquarters, reflecting the public’s enthusiasm for ongoing economic development initiatives.
Conclusion
The achievements reported by the Arizona Commerce Authority mark a significant milestone in the state’s economic progress. With new job creation exceeding expectations and substantial capital investment, Arizona’s trajectory in economic development continues to climb, establishing the state as a competitive hub for businesses and skilled workforce alike.
Deeper Dive: News & Info About This Topic
- Investors Business Daily: Tesla Robotaxis Expand Service to Arizona
- Wikipedia: Economic Development
- Arizona Commerce Authority: Record-Setting Economic Development in FY 2025
- Google Search: Arizona Economic Development
- ABC15: Hermes Arrives in Scottsdale
- Google Scholar: Arizona Economic Development 2025
- Arizona Commerce Authority: Arizona Wins Economic Development Award
- Encyclopedia Britannica: Economic Development
Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
