Phoenix, December 15, 2025
Arizona’s economy is thriving, supported by its largest employers across various sectors. This article delves into the significant impact of companies like Banner Health, Walmart, and Amazon, which are pivotal in job creation and economic stability statewide. With a diverse industry landscape, including healthcare, retail, and technology, the state showcases a robust workforce and substantial investment, ensuring continued economic growth and opportunities for its residents.
Arizona’s Economic Powerhouses: Unpacking Top Employers
A look into the state’s largest job creators, from healthcare to retail, driving prosperity and opportunity across the Grand Canyon State.
Phoenix, AZ – The vibrant heart of Arizona, Phoenix, stands as a testament to the state’s dynamic business environment and thriving economy. This impressive growth is not merely a stroke of luck, but a reflection of the enduring spirit of Arizona AZ entrepreneurs, a commitment to innovation, and a supportive climate that allows enterprises of all sizes to flourish. Understanding the landscape of Phoenix AZ business means recognizing the significant impact of its largest employers, which serve as crucial engines of job creation and economic stability across the Grand Canyon State.
Arizona’s economy benefits from a diverse range of industries, attracting substantial private investment and fostering a resilient workforce. These leading companies not only provide employment opportunities but also contribute to the overall well-being and development of local communities, setting a strong foundation for continued economic growth. This overview highlights the key players shaping Arizona’s employment sector, showcasing the state’s capacity for sustained prosperity.
The Foundation of Arizona’s Workforce
The strength of Arizona’s economy is underpinned by a robust group of large employers that provide tens of thousands of jobs statewide. Leading this impressive list is Banner Health, which employs a substantial 46,731 individuals in Arizona. Following closely are Walmart with 37,979 employees, and Amazon, a significant online retailer, contributing 36,000 jobs to the state’s workforce. These organizations represent critical economic drivers, offering diverse opportunities across various sectors.
The top employers list for 2025 further includes Kroger Co. with 19,920 employees, HonorHealth at 17,053 employees, and Dignity Health supporting 14,667 jobs. These companies, alongside others in the top 20, collectively offer valuable insight into Arizona’s economic drivers, workforce trends, and the key industries that are shaping the state’s growth. This comprehensive understanding is beneficial for job seekers, policymakers, and business leaders alike, aiding in more strategic decision-making.
Healthcare Dominance and Innovation
The healthcare sector stands out as a particularly dominant force among Arizona’s largest employers. Leading systems such as Banner Health, HonorHealth, and Dignity Health are not only major job creators but also essential providers of critical services across the state. Other significant healthcare employers include Mayo Clinic with 11,315 employees, Tenet Healthcare employing 10,350, and Phoenix Children’s Hospital with 8,800 employees.
HonorHealth, for instance, operates as one of Arizona’s largest nonprofit healthcare systems, extending its services to approximately five million people within the greater Phoenix metropolitan area and Florence. It manages nine acute-care hospitals and boasts over 1,400 staffed beds, demonstrating its extensive reach and capacity. The system has also showcased a commitment to innovation, advancing patient care and specialized services at facilities like HonorHealth Tempe Medical Center through technology and infrastructure upgrades, including enhanced surgical robotics and inpatient hemodialysis services. Furthermore, healthcare companies in Arizona are recognized for their commitment to employee satisfaction and fulfillment.
Retail, Logistics, and Consumer Services Powering Commerce
The retail and logistics sectors play a pivotal role in Arizona’s economic vitality, reflecting robust consumer demand and efficient supply chain networks. Walmart, with its extensive network of department stores, employs 37,979 individuals. The rapid expansion of online retail is exemplified by Amazon, which has grown to become the state’s third-largest employer, providing 36,000 jobs. The presence of other major retailers such as Kroger Co. (19,920 employees), Albertsons Cos. (14,275 employees), The Home Depot (11,000 employees), and Target (10,000 employees) highlights the diversity and strength of the consumer market in Arizona. Even the quick-service restaurant industry makes a significant contribution, with McDonald’s employing 10,600 people statewide.
Beyond retail, the financial services sector also stands as a significant employer. Companies like Wells Fargo, with 13,000 employees, and Bank of America, employing 9,200 individuals, underline the state’s role as a regional financial hub. These industries collectively drive commerce, facilitate consumer choice, and underpin a substantial portion of the state’s employment.
Diverse Industries and Skilled Talent Development
Arizona’s economic breadth extends far beyond healthcare and retail, encompassing a wide array of specialized industries that benefit from a skilled workforce and strategic investments. The defense sector is represented by companies like Raytheon, employing 12,500 people in missiles and defense systems. The mining industry also remains a significant contributor, with Freeport-McMoRan employing 10,800 in copper and gold mining. In the technology space, Intel provides 9,400 jobs, signaling Arizona’s role in the innovation economy.
Educational institutions are vital partners in developing the talent pipeline necessary for these diverse sectors. Grand Canyon University, for example, employs 10,631 individuals, contributing significantly to both education and employment in the state. Furthermore, Phoenix ranks among the Top 5 U.S. cities for vocational jobs, a clear indicator of the robust educational opportunities and the availability of a skilled workforce that attracts and supports various industries. The contribution of institutions like Northern Arizona University and Flagstaff Medical Center in the northern part of the state also fosters a well-educated workforce, benefiting the entire state. Reflecting its growing prominence as a hub for innovation and entrepreneurship, Phoenix, Arizona, will serve as the official host city for the Forbes Under 30 Summit starting in 2026.
Economic Outlook and Community Engagement
The collective strength of these major employers provides a stable foundation for Phoenix AZ business and overall economic growth. Their substantial presence creates a positive ripple effect, fostering a thriving ecosystem where Phoenix small business ventures and Arizona AZ entrepreneurs find opportunities to innovate and expand as suppliers, service providers, and partners. This interconnectedness is a hallmark of a healthy, dynamic economy, where both large corporations and agile smaller enterprises contribute to the community’s prosperity.
The continued investment by these companies, alongside a focus on cultivating a skilled workforce and maintaining a business-friendly environment, suggests a positive outlook for Arizona. The state’s ability to attract and retain such significant employers speaks volumes about its economic potential and the opportunities available for those seeking personal achievement and career advancement. This balanced approach to economic development, emphasizing private sector ingenuity and community involvement, ensures that Arizona remains a competitive and desirable location for businesses and individuals alike.
Conclusion
Arizona’s leading employers are vital contributors to the state’s economic landscape, driving substantial job creation and fostering innovation across diverse sectors. From the expansive healthcare networks to the dynamic retail and technology giants, these organizations underscore Arizona’s robust capacity for sustained economic growth. Their continued presence and investment highlight the success of a business environment that values entrepreneurial spirit and offers ample opportunities for individual achievement and community development. As Phoenix and the wider state continue to evolve, supporting these economic powerhouses and nurturing a vibrant ecosystem for Phoenix small business and Arizona AZ entrepreneurs will be paramount to ensuring a prosperous future for all residents.
We encourage our readers to support the businesses that contribute to Phoenix’s thriving economy and to stay engaged in the ongoing dialogue about the community’s economic future.
Frequently Asked Questions
What are the largest employers in Arizona?
The largest employers in Arizona for 2025 include Banner Health with 46,731 employees, Walmart with 37,979 employees, and Amazon with 36,000 employees.
How many employees does Banner Health have in Arizona?
Banner Health employs 46,731 individuals in Arizona.
Is Amazon a major employer in Arizona?
Yes, Amazon is a significant online retailer and the third-largest employer in Arizona, contributing 36,000 jobs to the state’s workforce.
What role does the healthcare sector play in Arizona’s employment?
The healthcare sector is a dominant force in Arizona’s employment, with major employers like Banner Health, HonorHealth, Dignity Health, Mayo Clinic, Tenet Healthcare, and Phoenix Children’s Hospital providing critical services and numerous jobs.
Is Phoenix a good city for vocational jobs?
Yes, Phoenix ranks among the Top 5 U.S. cities for vocational jobs.
Key Features of Arizona’s Top Employers (2025)
| Rank | Employer | Industry | Arizona Employees | Geographic Scope |
|---|---|---|---|---|
| 1 | Banner Health | Healthcare | 46,731 | State-level |
| 2 | Walmart | Department stores | 37,979 | State-level |
| 3 | Amazon | Online retailer | 36,000 | State-level |
| 4 | Kroger Co. | Grocery stores | 19,920 | State-level |
| 5 | HonorHealth | Healthcare | 17,053 | State-level |
| 6 | Dignity Health | Healthcare | 14,667 | State-level |
| 7 | Albertsons Cos. | Grocery stores | 14,275 | State-level |
| 8 | Wells Fargo | Financial services | 13,000 | State-level |
| 9 | Raytheon | Missiles and defense systems | 12,500 | State-level |
| 10 | CVS Health | Retail pharmacies | 12,000 | State-level |
| 11 | Mayo Clinic | Healthcare and healthcare education | 11,315 | State-level |
| 12 | The Home Depot | Home improvement stores | 11,000 | State-level |
| 13 | Freeport-McMoRan | Copper and gold mining | 10,800 | State-level |
| 14 | Grand Canyon University | Higher education | 10,631 | State-level |
| 15 | McDonald’s | Fast-food restaurants | 10,600 | State-level |
| 16 | Tenet Healthcare | Healthcare | 10,350 | State-level |
| 17 | Target | Department stores | 10,000 | State-level |
| 18 | Intel | Technology services | 9,400 | State-level |
| 19 | Bank of America | Financial services | 9,200 | State-level |
| 20 | Phoenix Children’s Hospital | Healthcare | 8,800 | State-level |
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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.
