News Summary
In Fiscal Year 2025, Arizona experienced significant economic growth, creating 24,285 new jobs and generating over $31 billion in investments. The Arizona Commerce Authority exceeded its job and wage goals, marking a robust recovery and development phase for various communities including Phoenix and Tucson. Governor Katie Hobbs emphasized the importance of these job opportunities for economic health, showcasing a commitment to future workforce development and transparency in economic initiatives.
Arizona has reached new economic heights in Fiscal Year 2025 (FY25), establishing a record with the creation of 24,285 new jobs. The figures, announced by the Arizona Commerce Authority (ACA), highlight a robust commitment to job creation, reflecting significant investments and expansion across the state. This fiscal year ended on June 30, 2025, marking a pivotal moment in Arizona’s economic landscape.
During FY25, companies made commitments to invest over $31 billion in Arizona communities, which is a substantial contribution to local economies. The average wage for the newly created positions stands at $95,928, setting a record for the state. These achievements not only surpassed expectations but also indicated strong fiscal health and growth potential in various sectors.
The Arizona Commerce Authority reported that its outcomes for FY25 achieved 121% of the annual projected jobs goal. The agency also exceeded its wage goals by 162% and the projected capital investment target by 791%. This impressive performance underscores the state’s dynamic labor market and favorable business environment.
Several communities throughout Arizona are experiencing economic expansions, including Apache Junction, Avondale, Tucson, Prescott, and Phoenix. These advancements involve a wide range of initiatives focusing on workforce development, startup growth, support for small businesses, and enhancements to the supply chain, contributing to a more sustainable economic structure.
The ACA has prioritized a three-pronged strategy to bolster the economy. This includes attracting out-of-state companies, expanding existing businesses, and aiding entrepreneurs in establishing new ventures. This comprehensive approach has proven effective, with the ACA successfully securing 1,360 companies since 2011, which has led to the promise of over 312,000 quality jobs and an investment total of $194 billion.
Among the various sectors experiencing growth, high-tech industries have seen notable expansions which also support local suppliers and small businesses. This thriving ecosystem demonstrates Arizona’s commitment to fostering an environment where innovation and economic progress can flourish.
The commitment to job creation and economic growth reflects the collaborative effort between state governance and local development agencies. The ACA has made significant strides in providing an unparalleled business climate and facilitating a skilled workforce in Arizona.
Governor Katie Hobbs recognized the state’s ongoing investment in its workforce, highlighting how the expansion of job opportunities is vital for the community’s economic health. With continued efforts toward workforce development and comprehensive support for business initiatives, Arizona is positioning itself as a leader in the evolving economic landscape.
Moving forward, detailed plans for future economic initiatives are accessible to the public at azcommerce.com. This transparency is aimed at fostering community involvement and keeping stakeholders informed about the ongoing progress and upcoming opportunities in Arizona.
Deeper Dive: News & Info About This Topic
- Arizona Commerce Authority: Record-Setting Economic Development
- Wikipedia: Economy of Arizona
- AZ Big Media: Arizona Economy Turbulence
- Google Search: Arizona Economy 2025
- AZ Central: Job Creation in Arizona
- Google Scholar: Arizona Economic Growth
- AZ Free News: Job Growth in Arizona
- Encyclopedia Britannica: Arizona Economy
- SRP Media: Economic Development Grants
- Google News: Arizona Economic Development
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF 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.
