10 June 2017

Time for The Golden Shovel Awards Again: Red-Hot 2017 Arizona

Annual Econdev Awards    
2017 Gold & Silver Shovel Awards: Illinois, Georgia, Arizona, Kentucky and Mississippi Awarded Gold Shovel
Geraldine Gambale, Editor, Area Development Magazine Steve Stackhouse-Kaelble Q2 2017
The work of economic development is a complicated mix of salesmanship, customer service, technical and legal expertise, communications, relationship-building, and a healthy dose of good fortune. More

Arizona — 5+ to 8 Million Population Category When it comes to economic development success stories, Arizona is a regular near the top the list of states with population counts between 5 million and 8 million. Its Gold Shovel performance is the result of major projects in finance and insurance as well as business services, mixed with a number of highly diversified manufacturing highlights.
Arizona economists are expecting a red-hot 2017, economically speaking — they’re fired up after the state celebrated a massive, multibillion-dollar announcement by Intel barely a month into the new year. But 2016 was hardly shabby, with economic growth that topped 2 percent, surpassing the nation’s 1.6 percent gain in GDP. Population in Arizona continues to rise, unemployment is dropping, and job growth ranks highly.
Here's what AZ Governor Doug Dicey had to say:
News Release June 8, 2017

Arizona Recognized As Top State For Economic Competitiveness
PHOENIX — Large-scale economic development projects in key industries, ranging from aerospace to finance to manufacturing, have earned Arizona top recognition from two prominent trade publications.
In the Site Selection magazine 2017 Prosperity Cup, Arizona was ranked the #1 most competitive state in the mountain region, and Area Development magazine http://www.areadevelopment.com/Gold-Shovel-Econdev-Awards/ has awarded Arizona a 2017 Gold Shovel Award as the top state in economic development in the five-million to eight-million population category. . .
Site Selection’s annual Prosperity Cup ranks the competitiveness of all 50 states overall and by region. Several criteria are used to calculate the final scores determining the rankings—including number of new and expanded facilities, total new jobs created, total capital investment, corporate real estate and tax climate rankings, performance in the Beacon Hill Institute’s State Competitiveness Index, and number of national career readiness certificates per 1,000 residents aged 18 to 64.
 
2016 Top Projects: Arizona*
Population: 6.93 Million

CompanyCityN/EJob CreationInvestmentIndustry
1. Raytheon Missile Systems TucsonN 1,975 $352.3 million Aerospace
2. Lucid Motors Casa Grande N 2,213 $735 million Electric Vehicles
3. ADP Tempe E 1,500 $33.8 million Business Services
4. Oscar Health Insurance Tempe E 1,250 $5 million Insurance
5. Wells Fargo Chandler E 1,200 $25 million Financial Services
6. Farmers Insurance Phoenix N 1,188 $41.3 million Insurance
7. CIOX Health Phoenix E 2,820 $15 million Business Services
8. Dexcom* Mesa E 500 $60 million Biotechnology
9. Huhtamaki Goodyear E 300 $119 million Consumer Products
10. SK Food Group Tolleson E 550 $29 million Food Products
*Represents a state/local sponsor

Gold Shovel Economic Development Awards: Sponsor Profiles
 

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