News Summary
The Greater Phoenix Economic Council (GPEC) has achieved the Mac Conway Award for Economic Development Excellence for the ninth consecutive year. This prestigious recognition from Site Selection Magazine highlights GPEC’s significant contributions to economic growth, including the relocation of 50 companies, generating over 6,600 jobs and more than $2 billion in capital investments in fiscal year 2024. GPEC celebrates reaching its 1,000 locate mark in the same year, marking a significant milestone in its mission to transform Greater Phoenix into a leading hub for innovation and economic opportunity.
PHOENIX – The Greater Phoenix Economic Council (GPEC) has been awarded the Mac Conway Award for Economic Development Excellence for the ninth consecutive year, recognizing its significant contributions to the area’s economic growth. The prestigious award, presented by Site Selection Magazine, highlights GPEC’s outstanding performance among leading economic development organizations across the United States.
GPEC has attained this recognition since 2016, based on criteria that include total project numbers, total investment amounts, job creation, and per-capita metrics within each category. In the fiscal year 2024 alone, GPEC successfully facilitated the expansion or relocation of 50 companies to the Greater Phoenix area, generating over 6,600 jobs and resulting in more than $2 billion in capital investments.
Among the notable companies that participated in these developments are CarbonCapture, Dutch Bros, Lego, and Fender Musical Instruments. These expansions not only bolster the local economy but also showcase the region’s appeal to a variety of industries.
In a milestone achievement, GPEC celebrated reaching its 1,000 locate mark in fiscal year 2024 and marked its 35th anniversary in October. The Arizona Association for Economic Development also recognized GPEC as the Large Organization of the Year at the 2025 EDDE Awards this past April.
GPEC’s President and CEO highlighted the organization’s mission to transform Greater Phoenix into a hub for innovation and economic opportunity. Over its tenure, GPEC has played a key role in aiding more than 1,000 companies, resulting in the creation of nearly 190,000 jobs and securing upwards of $69 billion in capital investment for the regional economy.
Regional Economic Landscape
The Greater Phoenix region is currently experiencing one of the lowest unemployment rates in the U.S. at 2.9%, demonstrating a steady decline in unemployment figures. Additionally, inflation rates in the area have decreased, placing the region fifth lowest among 21 metropolitan areas tracked nationally.
To further enhance its economic development strategy, Arizona has launched the Future48 Workforce Accelerator, a semiconductor-focused initiative at GateWay Community College. The accelerator, backed by a $13 million investment from the Arizona Commerce Authority, is set to be completed by 2026, aiming to support the growing demands of the semiconductor industry in the region.
Significantly, Sunlit Fluo & Chemical Co. Ltd. has inaugurated its first U.S. manufacturing facility in Arizona, representing a $100 million investment and forecasting the creation of over 50 initial jobs. In addition, the sustainable solutions manufacturer Rehrig Pacific has opened a new 264,000-square-foot facility in Buckeye, AZ, which is projected to generate 115 full-time positions.
Collaboration for Growth
Both GPEC and state officials have emphasized the vital importance of collaboration among industry, education, and government sectors in advancing workforce development and economic growth in the region. This collaborative approach aims to ensure that the workforce is equipped with skills that meet the evolving demands of local industries, particularly in high-growth sectors such as technology and manufacturing.
As GPEC continues to lead initiatives that promote economic development and job creation, its recent accolades only reinforce its commitment to making Greater Phoenix a competitive player in the national and global economy.
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Additional Resources
- AZ Big Media: GPEC Recognized as Top Economic Development Organization
- PR Newswire: Integro Bank CEO Club Hosts GPEC CEO
- Business Wire: Idealab Arizona Announces Partnership with SOM
- Axios: Greater Phoenix Sets the Pace for U.S. Economic Growth
- Business Facilities: Greater Phoenix Arizona Semiconductor Workforce Accelerator
- Wikipedia: Economic Development
- Google Search: Greater Phoenix Economic Council
- Google Scholar: Economic Development in Phoenix
- Encyclopedia Britannica: Economic Development
- Google News: GPEC
